USAID and Prosper Africa have joined forces with the National Alliance for Black Business to strengthen trade ties between the United States and Africa by connecting Black entrepreneurs across the Pan-African diaspora.
Representing the former parties, USAID Counselor Clinton White signed the Memorandum of Understanding (MOU) at the 124th National Black Business Conference in Atlanta, Georgia, aimed to empower Pan-African Diaspora businesses and drive measurable development outcomes.
The partnership focuses on crucial aspects of transcontinental trade and investment, with a particular emphasis on supporting Black-owned businesses. Key objectives include improving access to capital for internationally active Black enterprises, providing specialized training for global expansion, and facilitating networking events, business matchmaking, and trade missions to connect Black entrepreneurs across the Pan-African diaspora.
USAID Counselor Clinton White, representing both USAID and Prosper Africa, emphasized the significance of this alliance, stating, “Prosper Africa unlocks innovative solutions that enable this underserved and underleveraged economic Diaspora to fulfill its potential as a bridge to African economies.”
The National Alliance for Black Business, co-founded by Dr. Ken L. Harris, Charles H. DeBow, III, and Mayor Johnny Ford, views this partnership as a historic milestone. Dr. Harris, also the President/CEO of The National Business League, highlighted the collaboration’s potential to bridge gaps between the U.S., Africa, and the broader Pan-African diaspora, fostering sustainable development and economic empowerment.
A key component of this initiative is the U.S.-Africa Trade Desk, a platform connecting over 20,000 U.S. retail buyers with African suppliers. This innovative approach is expected to boost African exports to the U.S. by $300 million within 18 months, benefiting various sectors including specialty foods, coffee, tea, and macadamia nuts.
The partnership between Prosper Africa, USAID, and the National Alliance for Black Business represents a significant step towards creating a more inclusive and prosperous global economy. By focusing on Black-owned businesses and fostering connections across the Pan-African diaspora, this initiative aims to unlock new opportunities, drive economic growth, and strengthen ties between the United States and Africa.
