According to a White House Fact Sheet, these deals have an estimated total value of $5.7 billion, bolstering economic growth and fostering shared prosperity on both continents.

Since 2021, the U.S. Government has successfully closed over 900 deals across 47 African countries, amounting to a total estimated value of $22 billion in two-way trade and investment.

The Corporate Council on Africa and the Government of Botswana hosted the U.S.-Africa Business Summit on Wednesday, July 12, where the announcement occurred.

The White House said the event showcased the significant progress in advancing trade and investment relations between the United States and Africa.

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A key initiative contributing to its success is the Partnership for Global Infrastructure and Investment (PGII), established as the Administration’s flagship infrastructure program.

Officials said the PGII had played a vital role in advancing and scaling several public and private investments across the African continent, aligning with shared priority areas such as sustainable energy, health systems, food security/agribusiness, digital connectivity, infrastructure, and finance.

During the summit, officials announced that the Biden-Harris Administration had made substantial progress in delivering on the commitments made by business and government leaders.

The commitments, totaling $15 billion, have been complemented by an additional $8 billion in private sector commitments and $1 billion in U.S. Government commitments announced during Vice President Kamala Harris’s visit to Ghana, Tanzania, and Zambia in March 2023.

Notable achievements highlighted during the most recent summit included the efforts of various agencies to facilitate trade and investment. The Export-Import Bank of the United States (EXIM) authorized approximately $1.6 billion in transactions supporting exports to Africa, mainly focusing on renewable energy projects.