challenge
Supporting transparency and trade in Africa
challenge
Supporting transparency and trade in Africa
The African Growth and Opportunity Act (AGOA) underpins U.S. trade with sub-Saharan Africa. AGOA has been extended and reauthorized on four occasions, most recently in 2015 until 2025. AGOA provides exports from sub-Saharan Africa preferential access to the U.S. market. The U.S. also provided preferential access for sub-Saharan Africa exports under its Generalized System of Preferences (GSP), a program that applies to exports from most developing countries.
By enabling increased trade, AGOA supports local businesses and their integration into the global economy. AGOA has also stimulated foreign investment in sub-Saharan Africa, often by companies taking advantage of the new market access opportunities back in the U.S. For instance, U.S. retailers such as Gap, Target, and Old Navy source goods in Africa for export to the U.S.
Software techfortrade is a UK charity specifically focused on bridging the divide between emerging technology and international trade and economic development. They directly support early-stage businesses using innovative and disruptive digital technology to create opportunities that facilitate trade and alleviate poverty. They have recently launched a '3D4D' project, seeking to find and fund emerging ideas and businesses that use 3D printing technologies to help tackle poverty.