U.S.-Africa Trade Desk Secures $56 Million South African Table Grape Deal, Benefiting U.S. Consumers and Boosting U.S.-Africa Trade

New York, NY – The U.S.-Africa Trade Desk (USATD) has secured a $56 million deal to bring 700 containers—amounting to 1,260,000 crates—of South African-grown table grapes to the United States. This landmark agreement, the first of its kind for the USATD, is a joint venture between Prosper Africa and Afritex Ventures, designed to connect African agricultural suppliers with U.S. buyers.

The signing took place at the Africa Pavilion during the Summer Fancy Foods Trade Show, a significant event that underscores the growing economic ties between the two continents. This deal promises to stabilize product prices for U.S. consumers during the domestic off-season, a period typically marked by a 35% increase in commodity prices. Financing for the deal was arranged through a structured trade facility by EAS Advisors and Scipion Capital, ensuring firm off-take prices and minimizing market volatility for African producers.

Shipping of the table grapes will begin in the first week of November 2024 and continue through April 2025, perfectly timed to fill the gap in the U.S. growing season. The USATD will oversee the entire transaction, providing a seamless, end-to-end solution that aligns U.S. retailer needs with African production capabilities.

“I am excited to not only celebrate USATD’s first ever deal, but also the first time ever that South African grape producers have had the ability to directly export to U.S. retailers at scale,” said British A. Robinson, Coordinator of Prosper Africa. “Prosper Africa is proud to work with African companies to help them leverage the African Growth and Opportunity Act (AGOA) and facilitate their partnerships with US buyers, who want to diversify their suppliers and find top quality products for their consumers.”

Gavin van der Burgh, Chief Commercial Officer of USATD, added, “We are pleased to share the news of our successfully concluded transaction with a leading US retailer to fill a large gap in the key commodities market. Through this deal, we have harnessed the agro export potential of African nations.”

In a related development, USATD signed a Memorandum of Understanding (MOU) with Baylis Emerging Markets to further boost trade and investment between the United States and Africa. Franklin Amoo, CEO and Managing Partner of Baylis and a member of the President’s Advisory Council for Doing Business in Africa (PAC-DBiA), noted, “The minimal-risk nature of this deal has opened the door to more partnerships, including our new structured financing partnership with USATD.”

Prosper Africa facilitated the collaboration, demonstrating its commitment to advancing deals, promoting market opportunities, and strengthening U.S.-Africa trade and investment.

About the U.S.-Africa Trade Desk

A joint venture between Prosper Africa and Afritex Ventures, the U.S.-Africa Trade Desk aims to facilitate at least $300 million in export sales between Africa and the United States by 2025. It connects African suppliers with U.S. retailers, offering a secure supply chain from Africa to the U.S., consolidating logistics, insurance, and track and trace technology. Initially focusing on specialty food products, the initiative seeks to mentor and scale African suppliers for success in the U.S. market, supporting U.S. retailers in diversifying their sourcing with high-quality, sustainable products from Africa.

About Prosper Africa

Prosper Africa is a U.S. Presidential-level national security initiative created to significantly boost trade and investment between the U.S. and Africa. It leads innovative approaches to U.S.-Africa trade relations, transforming how business is conducted with Africa.

About Baylis

Baylis Emerging Markets is an Africa-focused investment manager specializing in manufacturing and telecommunications opportunities across the continent. With a hands-on approach, Baylis partners with management from the field to the factory floor to create value in promising assets, aiming to generate financial returns while improving environmental standards and creating sustainable jobs. Baylis seeks to facilitate the efficient financing of Africa’s industrialization through the deployment of global capital into African markets.