The United States has surpassed China as Africa's largest foreign direct investor in 2023, marking the first time it has held the lead since 2012. This shift is driven by the global competition for critical minerals essential for technology and a strategic move by the US to counter China's influence.

• The US invested $7.8 billion across Africa in 2023, compared to $4 billion by China, according to the China Africa Research Initiative of Johns Hopkins University.
• The US International Development Finance Corporation (DFC), established in 2019 under former President Trump, is spearheading American investments with a stated mission of “countering China’s presence in strategic regions.”
• Rwandan mining company Trinity Metals received a $3.9 million grant from the DFC, and now sends tungsten and tin to Pennsylvania for processing, demonstrating direct supply chain links to the US.
• Economists like Sepo Haihambo emphasize that African nations must assert their national interests in negotiations and seek diverse frameworks beyond simple cash-for-minerals deals, including production-sharing agreements and local equity participation.