{"id":166965,"date":"2026-03-06T16:01:27","date_gmt":"2026-03-06T16:01:27","guid":{"rendered":"https:\/\/www.one.org\/us\/?p=166965"},"modified":"2026-03-06T16:06:12","modified_gmt":"2026-03-06T16:06:12","slug":"africa-americas-next-growth-market","status":"publish","type":"post","link":"https:\/\/www.one.org\/us\/stories\/africa-americas-next-growth-market\/","title":{"rendered":"Africa is America’s Next Growth Market, if Congress Acts"},"content":{"rendered":"\n

Africa is one of the world’s fastest-growing consumer markets, with a population projected to double to 2.5 billion by 2050. For American businesses and workers, that’s enormous opportunity. But our economic rivals aren’t waiting\u2014they’re actively pursuing these markets while the United States risks being left behind.<\/p>\n\n\n\n

At the start of President Trump’s second term, his administration outlined a development strategy<\/a> centered on commercial diplomacy, attracting American business and catalyzing private investment in Africa. The goal, as senior officials have made clear, is to increase U.S. exports and investments, facilitate market access, and drive mutual prosperity. It’s the right vision. But turning that vision into reality requires congressional action.<\/p>\n\n\n\n

Congress should act on three priorities:<\/strong> Restore funding for the African Development Fund<\/a>; pass a long-term modernization of the African Growth and Opportunity Act<\/a>; and help fill the 35 vacant ambassador posts across the continent.<\/p>\n\n\n\n

Restore ADF Funding<\/h3>\n\n\n\n

First, Congress must restore funding for the African Development Fund. This institution provides affordable financing to low-income African countries for infrastructure, governance, and market-building projects that create stable environments for American companies to compete.<\/p>\n\n\n\n

U.S. funding for the ADF was eliminated in the recent budget<\/a>, putting important projects at risk. ADF financing has improved road and transport networks across East Africa, connecting landlocked economies to global markets and reducing logistics costs that burden American exporters. Every dollar from the U.S. generates approximately $10 in direct project investment. With U.S. contributions totaling just $197 million last year, this represents a modest investment with strong returns.<\/p>\n\n\n\n

Congress has proven that market-oriented development tools work. The bipartisan creation of the U.S. International Development Finance Corporation<\/a> and the Millennium Challenge Corporation<\/a> has strengthened governance and mobilized billions in private investment. The DFC alone has a $43.5 billion portfolio, with Africa as its second largest regional market. These aren’t handouts\u2014they’re strategic investments that open doors for American businesses.<\/p>\n\n\n\n

Extend AGOA<\/h3>\n\n\n\n

Second, Congress must pass a long-term modernization of the African Growth and Opportunity Act. AGOA has anchored U.S.-Africa economic relations<\/a> for over two decades and supports 450,000 American jobs through U.S.-Africa trade. But the program’s recent one-year extension doesn’t provide the certainty businesses need to make sustained investments.<\/p>\n\n\n\n

A modernized, long-term AGOA can deepen supply chain integration, expand market access, and strengthen partnerships with African countries while opening new export opportunities for American businesses and workers. The business community on both sides of the Atlantic needs more than stopgap measures\u2014they need predictability to plan, invest, and grow.<\/p>\n\n\n\n

Fill Embassy Vacancies<\/h3>\n\n\n\n

Finally, the United States cannot compete economically without a strong diplomatic presence. The American Foreign Service Association reports 35 U.S. ambassadorial vacancies across Africa<\/a>. More than half of our diplomatic posts on the continent. That includes our representation to the African Union.<\/p>\n\n\n\n

Ambassadors and fully staffed embassies advocate for American companies, facilitate investment, and counter economic competition from China and Russia. African leaders consistently signal a preference to partner with the United States. But when we fail to show up, our competitors fill the vacuum, displacing American influence and undermining our strategic interests.<\/p>\n\n\n\n

Congress should urge the administration to fill these vacancies, and the Senate should move promptly to confirm nominees.<\/p>\n\n\n\n

At a moment of intensifying global competition, the United States cannot afford to cede ground in one of the world’s fastest-growing markets. African economies represent opportunity for American businesses, workers, and exporters\u2014if we’re willing to compete for it. And in fact, an overwhelming majority of Americans believe in our oversees investments \u2013 recent polling by ONE<\/a> found that 75% of Americans (across the political spectrum) support \u201cUS investments abroad that help people in other countries and benefit the US economy.\u201d<\/p>\n\n\n\n

By restoring funding for the African Development Fund, passing a modernized long-term extension of AGOA, and confirming ambassadors across the continent, Congress can transform commercial diplomacy from a policy aspiration into a durable strategy. The administration has outlined the vision. Now Congress must provide the tools to make it work for American businesses, American workers, and American competitiveness.<\/p>\n\n\n\n

Rodney Kazibwe<\/a> is ONE’s Director of US Government Relations.<\/em><\/strong><\/p>\n\n\n\n

<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Africa is one of the world’s fastest-growing consumer markets, with a population projected to double to 2.5 billion by 2050. For American businesses and workers, that’s enormous opportunity. But our economic rivals aren’t waiting\u2014they’re actively pursuing these markets while the United States risks being left behind. At the start of President Trump’s second term, his […]<\/p>\n","protected":false},"author":42,"featured_media":163887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[28],"tags":[80,112,430],"topic":[48,50],"contributor":[557],"one_content_audience":[],"one_content_type":[],"one_content_tone":[],"class_list":["post-166965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-africa","tag-development","tag-trade","topic-policy","topic-trade-and-investment","contributor-rodney-kazibwe"],"acf":[],"yoast_head":"\nAfrica is America's Next Growth Market, if Congress Acts - ONE.org US<\/title>\n<meta name=\"description\" content=\"Africa is poised to become one of the world\u2019s biggest growth markets. 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