The US has identified energy as an opportunity to grow its exports into sub-Saharan Africa.
In her keynote address at the 6th Powering Africa Summit (PAS) in Miami last week, Export-Import Bank of the United States (Exim) board member Judith Pryor said Exim could further trade and investment opportunities for US exports of American-made goods and services that would help increase energy access across sub-Saharan Africa.
Power Africa is a US government-led partnership that brings together the collective resources of more than 170 public and private-sector partners to double access to electricity in sub-Saharan Africa, where 70% of the population lacks electricity.
“With six of the 10 fastest growing economies in the world and more than one billion consumers, Africa is poised to play a pivotal part in the global economy. Sub-Saharan Africa is a priority region for Exim, and since May 2019, the agency has authorised more than 40 deals to sub-Saharan Africa, totalling more than $5 billion,” she said.
Exim is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of US goods and services.