Prosper Africa and the African Export-Import Bank (Afreximbank) have entered into a strategic partnership to enhance trade and investment between the United States and Africa. The Memorandum of Understanding (MoU), signed on January 17, 2025, outlines key areas of collaboration focused on sectors such as creative industries, critical minerals, emerging technologies, and textile manufacturing.
The MoU highlights several important initiatives, including facilitating access to capital, providing technical and advisory support for creative business deals, and developing small and medium-sized enterprises (SMEs) in agribusiness and textiles. Other key areas of collaboration are the Creative Africa Nexus and strategic event partnerships. Together, Prosper Africa and Afreximbank aim to achieve shared goals, such as expanding trade through the African Growth and Opportunity Act (AGOA), increasing job creation, enhancing access to capital, and promoting cultural exchange between the U.S. and Africa.
British A. Robinson, Prosper Africa Coordinator, emphasized the importance of such collaborations, stating that the partnership with Afreximbank will help achieve significant economic growth and improve people’s lives across both regions. Kanayo Awani, Afreximbank’s Executive Vice President for Intra-Africa Trade and Export Development, underscored that the partnership will unlock new opportunities for trade, investment, and sustainable growth, ultimately benefiting African businesses and spurring innovation in the creative economy.
An Implementation Team will be formed to oversee the execution of the MoU and review progress periodically
This partnership marks a milestone in enhancing the economic relationship between the U.S. and Africa, with a focus on inclusive growth and mutual prosperity.
