US Strengthens Commercial Ties with Africa through Landmark Deals and Partnerships
In a significant move to bolster economic cooperation, the United States has reinforced its commercial ties with Africa through a series of high-level engagements and landmark deals. Senior Bureau Official Troy Fitrell’s recent visit to Abidjan, Côte d’Ivoire, from May 12-14, marked a pivotal moment in this endeavor. Fitrell participated in the Africa CEO Forum and the AmCham Business Summit, where he underscored the US government’s commitment to expanding economic opportunities and shared prosperity across the continent.
The AmCham Business Summit, themed "Strengthening U.S. Business Partnerships with Africa," brought together business executives, international organizations, and senior government officials to discuss ways to deepen commercial relationships between the US and Africa. As the summit’s keynote speaker, Fitrell unveiled the State Department’s new Commercial Diplomacy Strategy for Sub-Saharan Africa, highlighting the US’s strategic focus on fostering long-term, mutually beneficial partnerships.
Several notable deals were announced during the summit, including a memorandum of understanding (MOU) between VAALCO Energy, Inc. and PETROCI to explore potential oil and gas opportunities in Côte d’Ivoire. Sun Africa and the Government of Côte d’Ivoire also formalized an MOU to transform the country’s power sector, while Yaatra Ventures signed an MOU with Société Ivoirienne de Raffinage (SIR) to establish a national refinery. These agreements, valued at over $550 million, demonstrate the growing interest of American companies in Africa’s dynamic markets.
Other significant partnerships include a $45 million MOU between Aerostar Dynamics, Inc. and the Agence de Developpement Economique de la Region du Poro (ADER-PORO) to provide high-quality drones and training, as well as an MOU between NTELX and Scanning Systems to enhance freight transport visibility and security. The U.S. Chamber of Commerce’s U.S.-Africa Business Center also reinvigorated its MOU with the Chamber of Commerce and Industry of Côte d’Ivoire to strengthen commercial relationships between the two countries.
These developments are part of a broader effort by the US to increase its economic engagement with Africa. Since January 2025, several American companies have signed significant deals with African countries, including Citi’s support for a landmark dual-currency bond transaction in Côte d’Ivoire and Cybastion’s partnerships with Angola Telecom, the Government of Gabon, and the Government of Guinea to advance digital transformation and cybersecurity initiatives.
The US-Africa commercial partnership is poised for significant growth, with a focus on mutual benefit and cooperation. As Fitrell emphasized, the US is committed to expanding economic opportunities and shared prosperity across the continent. With these landmark deals and partnerships, the stage is set for a new era of economic cooperation and development between the US and Africa.
