From May 1 to 5, 2023, Prosper Africa led a high-level U.S. institutional investor delegation to Cairo, Egypt, to attend the Africa Private Equity and Venture Capital Association (AVCA) Annual Conference and explore investment opportunities. The delegation, organized in partnership with the U.S. Agency for International Development (USAID) and MiDA Advisors, a global advisory firm, brought executives and investors from U.S. pension funds and financial service providers managing over $1 trillion in assets to Egypt.
The delegation is participating in sessions at AVCA, the largest global Africa-focused private capital gathering. They will also participate in structured pitch sessions with a shortlist of asset managers that can deploy their capital at scale and facilitate financial, social, and environmental returns. The trip is expected to delivere on one of the commitments that the U.S. Government made at the U.S.-Africa Leaders Summit in December 2022. It is part of a package of $15.7 billion in two-way trade and investment commitments that were made in the Summit’s Business Forum Deal Room.
With the trillion-dollar investment gap in Africa, the engagement of the $20-trillion U.S. institutional capital community is essential in fueling progress and achieving Africa’s development priorities, including the climate transition. Prosper Africa provided the investor delegation with advisory services and market insights on the perceived and actual risks of investing in Africa, support in cultivating relationships with trusted local partners, and tools to assess a viable pipeline of deals across Africa.
The delegation was the first of five separate investor delegations that Prosper Africa planned to organize to the African continent in 2023 alone. Future delegations were planned for Botswana, Nigeria, South Africa, and Morocco. Previous Prosper Africa Institutional Investor Delegations had visited Senegal, South Africa, Kenya, and Morocco.
“These delegations demonstrate the U.S. Government’s priority to spearhead two-way trade and investment on the continent, while at the same time providing U.S. pension funds representing millions of American workers credible returns in rapidly growing economies,” said Scott Cameron, Acting Coordinator for Prosper Africa.
Collectively, U.S. investors managing over $2 trillion in assets had visited the continent through Prosper Africa delegations.