Sec. 132. Enhancing United States-Africa trade and investment for prosperity
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It is the policy of the United States to increase United States investment in Africa and to promote and facilitate trade between the United States and Africa, focused on key countries and sectors, that supports mutual economic growth and development outcomes, long-term development of markets, and the strategic interests of the United States. The President shall establish an office, to be known as the Prosper Africa Office, and assign it to a bureau within the United States Agency for International Development to coordinate the activities of the United States Government related to increasing trade and investment between the United States and Africa, which should include representation from relevant agencies as designated by the President.
The office established pursuant to paragraph
(1)shall— identify priority countries or sectors as appropriate for United States foreign investment in countries in Africa and sectors and countries that support United States economic growth and promotes trade based on the analysis required under subsection (c); coordinate activities and implementing mechanisms, including at United States embassies in Africa, to carry out the policy set forth in subsection (a), including by— providing program support and guidance to implement the policy in subsection (a); providing information and analysis to United States companies and investors in countries and sectors identified in subparagraph (A); and serving, as needed, as an information clearinghouse for the United States Government for businesses, investors, and civic organizations, and others in the United States seeking information related to investing in Africa, and connecting them with teams at United States embassies overseas; and identify barriers to trade and investment in priority countries and sectors, and identify concrete actions to address them, including strengthening programs and activities aimed at improving the enabling environment in those countries. The office established under paragraph
(1)shall be led by an Executive Director who shall be designated by the Administrator of the United States Agency for International Development, and who shall— coordinate interagency efforts related to paragraph (2); identify, not later than 90 days after the release of the analysis required under subsection (c), a list of priority countries for the purposes of carrying out this section; plan, coordinate, and oversee the policies, activities, and programs of United States Government agencies, in the United States and in overseas missions, involved in promoting or facilitating trade and investment activities between the United States and Africa and development and coordination of relevant activities meant to improve the enabling environment; identify and provide information about investment opportunities, market information, and United States Government programs to support trade and investment activities in priority countries and sectors identified pursuant to paragraph (2)(A); and not less than 4 times per year, convene a committee consisting of the directors from each agency designated under subparagraph
(B)to provide strategic guidance and coordination for the policy, programs, and activities of the office. The President shall designate Federal departments and agencies to participate in support of the policy set forth in subsection (a), and direct the head of each designated agency to— designate an employee to serve as a focal point for the agency’s respective activities related to subsection (a), who shall coordinate the relevant activities of the agency and liaise with the Executive Director designated pursuant to subparagraph (A); and designate an employee to serve at United States embassies in priority countries identified pursuant to subsection (b)(2)(A). In order to carry out this section— the Executive Director shall have the authority, as appropriate, to hire employees and contractors in a manner that is consistent with existing hiring authorities of USAID to support the execution of efforts described in paragraph (3)(A), and shall be supported, as appropriate, by staff detailed from any Federal department or agency designated pursuant to paragraph (3)(B); and the Chief of Mission in relevant Sub-Saharan and North Africa countries— shall take an active and direct leadership role in promoting, supporting, and facilitating activities pursuant to this section; shall designate a Foreign Service Officer, Foreign Commercial Service Officer, or other direct hire person under Chief of Mission authority to lead an interagency team to support activities pursuant to this section, who shall— conduct assessments of market conditions and business operating environments; identify investment opportunities; foster relationships and communications between United States investors and businesses and African businesses and individuals within their country of responsibility; and carry out other duties as necessary; and is authorized to hire locally employed staff with relevant experience to support the activities of the office established pursuant to this subsection. Not later than 180 days after the date of the enactment of this Act, and every 4 years thereafter until 2031, the Executive Director shall commission and publish a study every 4 years of the investment environment in Africa that incorporates the following elements: An analysis of which markets are the most promising for private investment. An analysis of African markets that identifies which industries and sectors United States firms have an advantage in comparison to other sources of foreign direct investment. An analysis of perceived and actual barriers to United States private investment, including— significant legal and regulatory constraints to foreign investment and business operating environments; reputational risks; investor information gaps; and access to and affordability of capital, labor markets, currency volatility, and infrastructure. To produce the study required under paragraph (1), the Executive Director is authorized to engage the services of a qualified United States private sector consultant or subject matter expert. The Administrator of the United States Agency for International Development shall submit each study required under paragraph
(1)to the appropriate committees of Congress and shall make the study publicly available. The Executive Director shall determine the priority countries and sectors for purposes of subsection (b)(2)(A)(i) based on the findings of the report required under this subsection. The office shall, to the extent practicable, promote and facilitate investments in small and medium enterprises, including by establishing and supporting relationships between United States Government institutions, philanthropic institutions, and private lenders to mobilize blended finance for small and medium enterprises in Africa. The office shall seek to support and facilitate investments in Africa by United States citizens and residents who identify as members of the African diaspora. The Executive Director shall consult with the President’s Advisory Council on African Diaspora Engagement in the United States (referred to in this subsection as the Council ) established by Executive Order 14089 on issues relating to increasing, developing, and sustaining investments in Africa by United States members of the African diaspora. The Executive Director shall consult with the Chairman and Ranking Member of the appropriate committees of Congress in developing recommendations to the President of not less than 3 persons for appointment to the Council who have significant relevant experience in the fields of trade, private investment, economics, international development, or other relevant fields. The Council shall publish an annual report on investment in Africa by United States members of the African diaspora and barriers to increased investment by the diaspora. The Executive Director shall organize public meetings throughout the United States with members of the African diaspora community that— provide a forum for communication, education, and information about investment opportunities; and as appropriate, may be coordinated with local civic, community, and business organizations. The Executive Director, in coordination with the respective Chiefs of Mission at designated United States embassies, shall seek to strengthen the business-enabling environment in Africa by— identifying barriers to United States investment on a country-by-country basis; identifying existing development and technical assistance programs that can serve to eliminate the barriers identified under paragraph (1); ensuring Country Development Cooperation Strategies and Regional Development Cooperation Strategies incorporate programs and activities focused on addressing specific barriers to private sector investment identified under paragraph (1); and providing policy advice and technical assistance to select African countries to develop and improve regulatory and legal structures, taxation and customs regimes, policy frameworks, and other relevant structures and practices to improve the operating environments for businesses and eliminate other barriers to competition.
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Sec. 132
Enhancing United States-Africa trade and investment for prosperity
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