In a major boost for African trade, the United States (US) Senate has overwhelmingly voted to extend the African Growth and Opportunity Act (AGOA) through to December 2028.
The upper chamber passed the legislation by an overwhelming 90–6 margin, giving businesses across the continent much-needed certainty as the current agreement was set to lapse at the end of this year. AGOA gives 32 sub-Saharan African countries duty-free access to the lucrative US market for thousands of products.
While the Senate’s decisive vote marks a huge step forward, the bill isn’t across the finish line just yet. It now moves to the House of Representatives for approval before heading to the President’s desk to be signed into law.
–ChannelAfrica–