Yellen talks up US involvement in Africa
South Africa was the biggest beneficiary of this arrangement last year. And since 2021, the US has helped close more than 800 trade and investment deals in Africa - totaling $18 billion .
Prosperity in Africa also requires promoting more trade within the continent. As Africa’s middle class grows, the continent will become a bigger market for its own goods and services. Africa’s infrastructure gap is estimated at over $100 billion annually. To invest in global infrastructure, the G7 has announced a Partnership for Global Infrastructure and Investment. This initiative aims to mobilise $600 billion into a variety of quality infrastructure projects by 2027 - including in Africa.
Strengthening Africa’s digital economy has the potential to unlock innovation, particularly by leveraging the talents of young workers that are early adopters of technology.
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