DAVOS — British Robinson, the Coordinator of the Prosper Africa Initiative, stands as a beacon of hope for fostering economic prosperity and partnership on the African continent. As the driving force behind this pivotal initiative, Robinson is dedicated to unlocking Africa’s vast potential and advancing mutual prosperity through trade and investment.
In an exclusive interview conducted by TRENDS on the sidelines of the recently concluded World Economic Forum 2024 in Davos, Robinson offers a compelling glimpse into the mission and impact of the Prosper Africa Initiative. With a steadfast focus on catalyzing private-sector investment and promoting two-way trade, Robinson elucidates the strategic vision driving Prosper Africa’s efforts to harness Africa’s dynamism and market potential on the global stage.
Against the backdrop of Africa’s formidable challenges and opportunities, Robinson shares the remarkable progress achieved by Prosper Africa in recent years. From closing hundreds of new deals to catalyzing billions of dollars in two-way trade and investments, Robinson paints a picture of tangible impact and transformative growth.
The conversation transcends mere economic discourse as Robinson delves into Prosper Africa’s multifaceted approach to addressing Africa’s pressing infrastructure, climate, and healthcare challenges. With a keen awareness of the continent’s evolving needs and realities, Robinson articulates a vision grounded in partnership, sustainability, and inclusive growth.
Moreover, in navigating geopolitical dynamics and global competition, Robinson sheds light on Prosper Africa’s role vis-Ã -vis China’s Belt and Road Initiative (BRI) and the imperative of aligning investment with Africa’s long-term interests and aspirations.
Robinson’s underscores the importance of investing in people, fostering resilience, and building capacity to navigate the complex landscape of political instability and uncertainty.
Excerpts:
Q: What is the Prosper Africa Initiative, and what’s your mission in the region?
A: Prosper Africa is the US government’s signature initiative to boost private-sector investment in Africa through two-way trade and investment.
We collaborate with the global investment community to increase and highlight Africa’s extraordinary market potential and dynamism.
Africa boasts many assets. President Biden committed to the continent last year through the Africa Leadership Summit, where many deals and partnerships were announced. The African Leadership Summit put Prosper Africa on the stage.
In 2023, we closed 547 new deals with an estimated value of about $4.2 billion in two-way trade and investments. It represents an increase of about 70 percent over the results from 2022.
Q: In terms of infrastructure, because that’s one of Africa’s biggest challenges, is the Prosper Africa organization doing something to boost its infrastructure?
A: Yes, we’ve identified investors and are actively working to bolster Africa’s infrastructure.
Q: One of Africa’s many challenges is that only companies or countries within the region have exploited its resources to enhance themselves, leaving Africa at the same development stage. Will Prosper Africa do it differently?
A: Our new approach prioritizes the well-being of the people we invest in. Job creation and focusing on the youth are significant components of our strategy.
Q: Considering that one in four people on the planet by 2030 will be in Africa, how does Prosper Africa address this demographic shift?
A: We emphasize the importance of caring for the youth and the environment, as well as upholding high investment standards, to ensure sustainable development.
Q: To what extent is Prosper Africa a response to China’s Belt and Road Initiative (BRI)?
A: It’s a national security initiative aimed at providing supportive and positive assistance to the continent, ensuring our efforts are beneficial and not exploitative.
Q: With climate change being a critical issue, what investments is Prosper Africa pursuing in this field?
Addressing climate change is essential for any investment in Africa, given its significant impact on the continent. We aim to leverage investments to combat and mitigate the effects of climate change.
Q: What initiatives has Prosper Africa undertaken in the healthcare sector?
A: We’re looking into investments in healthcare, from manufacturing and packaging to potentially supporting vaccine initiatives, to prepare for the transition from infectious to noncommunicable diseases.
Q: And with political instability in Africa rising again in 2023, how is this affecting your work?
A: Despite political instability, we persevere, understanding that challenges are part of the process. Africa’s experiences are no different from those of other regions facing similar issues.