USTDA’s Enoh Ebong on how to deepen US-Africa trade relations

In 2021, the Biden administration announced plans to increase two-way trade and investment between the United States and Africa. The United States Trade and Development Agency (USTDA) is a key player in implementing these strategies. CNBC Africa's Godfrey Mutizwa recently sat down with Enoh Ebong, the USTDA Director, to discuss her impressions following a regional visit. Ebong emphasized the importance of the new U.S. strategic strategy that focuses on developing high-quality infrastructure to facilitate capital mobilization and financing. This strategy aligns perfectly with USTDA's mission, which centers around supporting infrastructure development in vital sectors such as clean energy, ICT, and transportation. During her visit, Ebong engaged in strategic dialogues with government counterparts, focusing on addressing infrastructure challenges. This included discussions on transportation and logistics, digital infrastructure, and mobilizing capital. The goal was to structure projects effectively to ensure they are implemented, financed, and sustained successfully. The USTDA has a robust portfolio in Africa, with the capacity to catalyze $17 billion in financing. However, one of the challenges hindering the release of capital is the lack of clear project pipelines and connections to relevant financiers. Ebong stressed the importance of building these connections to ensure the flow of capital and maximize returns. The USTDA is also committed to facilitating the export of U.S. goods to Africa. Ebong highlighted the significance of creating an enabling regulatory environment to enhance investment appetite. The agency works on technical assistance and feasibility studies, aiming to streamline approval processes for products such as medical devices and pharmaceuticals. Moreover, Ebong emphasized the importance of supporting Small, Medium, and Micro Enterprises (SMMEs), particularly those owned by diverse and disadvantaged groups. The USTDA is focused on providing these businesses with access to opportunities and fostering growth. When discussing the African Continental Free Trade Area (AfCFTA), Ebong expressed optimism about its potential and the opportunities it presents for U.S.-Africa trade. She highlighted the USTDA's role in promoting digital connectivity and regional partnerships to advance the AfCFTA's implementation. In terms of regional trade prospects, Ebong noted that the USTDA is active across sub-Saharan Africa, with a strong presence in various regions. While each region offers unique opportunities, the agency is equally engaged in West, East, and Southern Africa. Looking ahead to the upcoming summit called by President Biden in December, Ebong shared that the USTDA will play a significant role, particularly in the digital infrastructure space. The agency expects the summit to strengthen partnerships and create a conducive environment for collaborative efforts. In conclusion, Ebong expressed excitement about the potential for deepening the relationship between the U.S. and Africa, as well as the specific partnerships formed during her visit to South Africa. She highlighted the shared values and vision that emerged during the strategic dialogues, underscoring a genuine commitment to working together and achieving common goals. As Ebong departs South Africa, she is energized by the possibilities for collaboration and growth between the U.S. and African nations. The discussions and agreements reached during her visit have set a solid foundation for future partnerships and mutual benefits.