BusinessWeek has learnt that on top of the existing tight protocols on governance required of African governments to remain as AGOA beneficiaries, the US also wants more adherence to Environment, Social and Governance (ESG) standards from the African corporates wanting to do business with the world’s richest market.
AGOA, which provides preferential trade access to the US for participating African countries, expires in 2025 and is currently undergoing talks towards renewal. At the US Africa Leaders’ Summit held in Washington D.C. last month, senior US government representatives, including members of Congress held high level talks with senior officials from more than 40 African governments on laying the ground rules for renewal.
