Togo to be one of the first to benefit from US' Prosper Africa new program to replace AGOA

Economic governance
Tuesday, 13 August 2019 13:20
Togo to be one of the first to benefit from US' Prosper Africa new program to replace AGOA

(Togo First) - Prosper Africa is the name of the new program developed by the Trump administration and which is set to substitute the African Growth and Opportunity Act (AGOA) by 2025. This new program aims to boost trade and investments between Africa and the US.

As a beneficiary of the AGOA, Togo will be part of the first nations to benefit from the new program. According to the Togolese communication cell, this was revealed by Phil Bryant, Governor of Mississippi, during a recent visit in Togo. 

The decision to integrate Togo at the early stages of the program aligns with the country’s vision for growth, through its national development plan to be specific. This plan, it should be noted, depends greatly (65% of funds needed which equals nearly XOF3,000 billion) on private investments.

Regarding Prosper Africa, Tibor Nagy, US deputy State secretary in charge of African Affairs, had said during a tour in Africa that “it will greatly benefit countries fostering private sector and innovation.” According to him, the program should enable African producers access the US consumption market of more than 300 million people having a combined purchasing power of $13,000 billion.

Séna Akoda

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