The U.S. African Development Foundation (USADF) and the Government of Benin renewed a five-year, $10 million partnership on Wednesday, April 12, 2023.
Under the partnership, USADF and Benin’s Ministry of Small and Medium Enterprises and Employment Promotion (MSMEPE) will each give $5 million over five years to help small and medium-sized businesses (SMEs) become more competitive, access lucrative markets, and improve their production and incomes. USADF President and CEO Travis Adkins, U.S. Ambassador to Benin Brian Shukan, Benin Minister of Small and Medium Enterprises and Employment Promotion the Honorable Modeste Tihounté KEREKOU, Benin Minister of Foreign Affairs the Honorable Aurélien A. Agbénonci, all attended the MoU signing. “This renewed partnership with the Government of Benin reaffirms our commitment to promoting youth and women’s entrepreneurship, improving food security, and increasing revenue generation in the country, particularly in high-priority areas,” said Travis Adkins, President and CEO of USADF. “By investing in small producers and SMEs, the backbone of the nation’s economic growth, we not only create jobs and improve livelihoods, but we also contribute to the nation’s overall economic development.” USADF and the Government of Benin have invested over $14 million in 115 agricultural producer groups and agro-businesses to date. “The renewal of the strategic partnership is an important link in the rich cooperation that has always existed between the United States and Benin. The signature of the MoU cements the US’ continued commitment to the government of Benin to develop SMEs, women’s entrepreneurship, and farmer organizations working to produce and export,” said Minister Modeste Tihounté Kerekou, Minister of Small and Medium Enterprises of Benin. “We are pleased with the quality of the relations that have always prevailed between our organizations, based on our common commitment to continue working for the well-being of the Beninese people.” Over the past several years, USADF has focused on securing strategic partnerships with African governments which has allowed it to maximize its impact and reach across the continent. In 2023, USADF plans on investing $56.84 million in Africa, of which $18.2 is leveraged funds from African governments, other U.S. government agencies, and the private sector to implement grassroots development projects and create pathways to prosperity.