More investments in Africa could see the Biden administration reduce China and the EU’s dominance in trade with Africa

The US is optimistic that if the Africa Continental Free Trade Area (AfCFTA) is implemented the right way, it could help the continent solve most of its industrial challenges and attract more foreign investment.

In a press statement released by the White House during the Dec. 13-15 US-Africa Business Summit in Washington, the Biden Administration expressed confidence in Africa’s transformation journey.

“Africa’s integration into global markets, demographic boom, and continent-wide spirit of entrepreneurship and innovation present an extraordinary opportunity for the US to invest in Africa’s future,” it reads.

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