Afutrade_Final-1

Connecting US Companies to African Markets

Why Africa

You shouldn’t be asking yourself “Why Africa?” you should be asking yourself “Why am I not in Africa?”

With one of the fasting growing economies accompanied with the diversities of an entire continent, Africa is the next frontier to help take your business to the next level.

  • Six of the 10 fastest growing economies in the world are in Africa.
  • International Monetary Fund (IMF) projects that over the next five years, 12 out of the 20 fastest growing economies will be in Africa.
  • US trade to Africa over the past decade has tripled.
  • Consumer spending in Africa is expected to reach $1.4 trillion by 2020, up from 860 billion in 2008.
  • Programs like Trade Africa and Power Africa under the president’s doing business in African campaign makes it easier than ever for US companies to take advantage of opportunities.
  • Demand is growing across sectors from infrastructure to mining to retail.
  • In the past 5 years, Ex-Im Bank has authorized more than $5 billion for US exports to Sub-Saharan Africa, exceeding the Bank’s authorizations of $4 billion for the region approved over the previous decade.
  • US Congress has reauthorized the Export Import Bank of the US (Exim Bank) through 2019.
  • US Department of Commerce has doubled its presence in Sub-Saharan Africa, opening new offices across the region.
  • Oversees Private Corporation (OPIC) has committed over $1 billion in financing and insurance in Sub-Saharan Africa through 2018.