Browsing: US Africa Trade

CCA president and chief executive officer Florizelle Liser said the forum allowed over 2,200 participants to network.

“CCA looks forward to partnering with the US Chamber to jointly convene the private sector as part of the Summit’s Africa Business Forum, which will help drive progress towards a trade and investment relationship that unlocks opportunity and growth for both the U.S. and Africa,” Liser said.

The US-Africa Leaders Summit will build American and African shared values and hopes to foster new economic engagement. It will also reinforce the two regions’ commitment to democracy and human rights. Among the issues to be discussed are mitigating the impact of COVID-19 and future pandemics and working collaboratively to strengthen regional and global health.

Climate change is another matter of concern that needs a response by respective governments. Nevertheless, Biden said he was hopeful the summit would be a success.…

As of 2017, the trade initiative had created over 300,000 jobs in sub-Saharan Africa, many of which were in the apparel sector.
We recently carried out a Kenya country case study on the implementation of AGOA in the 2000 to 2016 period. We found that in this period, Kenya’s total exports to the US grew by US$443.2 million (or 405 per cent) from US$109.4 million to US$552.6 million. By 2020, the figure had risen to US$569 million, with most of the country’s exports coming from eligible products.
Looked at differently, in the nine years before the trade programme (1992 to 2000), Kenya’s average annual exports to the US were US$101 million. In the nine years after (2002 to 2010), average annual exports to the US rose to US$305 million. They rose further on average to US$557 million in the 2012 to 2020 period.…

The East African Community (EAC) business conglomerates are anxiously awaiting the Joe Biden administration to come into power. It is hoped that a Biden administration will revive negotiations and implementations of the already signed EAC-US Trade and Investment Partnership.

While Trump continues to taint his administration’s short rule with prompting rioters to even invade Capitol Hill the ‘law body’ of the country, leaders from the EAC have gone ahead to congratulate Joe Biden for his election win.

It is clear that businesses in Africa see Biden as a beacon of hope that will reignite the Trump dampened US trade ties with the regional bloc.

Consider the Trade and Investment Framework Agreement (TIFA), a trade pact that covers and governs ‘the framework for expanding trade and resolving outstanding disputes between countries, was agreed between US and EAC partner states in June 2012 but was never implemented.’

However, since 2016, the negotiations …

The US and China, two of the world's biggest superpowers, are currently in the midst of a trade war. The battle centres around the uneven trade deficit between the two countries. While Africa may not be a direct participant of the war, there is a risk of the continent getting caught in the crossfire. 

The Titans At War  

In 1995, the US-China trade deficit stood at around $45 billion in favour of China. By 2018, the trade deficit had reached approximately $420 billion.  

The ballooning deficit triggered a response from the American administration which accused China of unfair trade practices and intellectual property theft.  Both parties threw words, tariffs and tweets in each other's direction. Truce talks have provided periodic calm periods in between the storm. Both economies have suffered in the process recording significant declines in exports, income and local business activity. The rest of

US Election 2020

It’s vote o’clock for the US again as Americans go to the polls scheduled for November 3, 2020, to select the country’s next president. The run-up to the US elections is always a dramatic campaign that is interesting to watch. This year the match pits incumbent president and Republican candidate Donald Trump against the Democrats pick Joe Biden. While the voting may be confined to American soils, the outcome of the elections has far-reaching implications for Africa and the rest of the world.

What Does the US Election Have To Do With Africa?

Being a world superpower, the outcome of the US elections directly or indirectly affects the African continent.

The US has no fixed foreign policy towards Africa and thus foreign policy is largely dependent on the inhabitant of the white house. How the US provides aid and trades with Africa has changed significantly with the …