This article seems incisive:

The growth in China’s exports to Africa was driven by several factors, including the increasing difficulty of selling to the U.S., as well as expanded exports of solar power equipment. China shipped more automobiles and auto parts to African countries as well.

Some African trading partners are unhappy with simply importing large amounts of factory-made goods from China, prompting Beijing to work on increasing local production in African countries and creating local jobs. Chinese truck maker Shaanxi Automobile Group in May started up an Algerian truck assembly plant through a local joint venture. State-owned Beijing Automotive Industry Corp., or BAIC, opened a passenger vehicle assembly plant in South Africa in July.

China tripled its offerings of grants and interest-free loans to Africa as Xi sought to dispel fears that borrowers would fall into so-called “debt traps” — as was the case with Sri Lanka, which was forced to hand Beijing control of a key port last year. Such assistance comprised $15 billion, or about a quarter of a $60 billion aid package Xi pledged to the continent on Monday, compared to $5 billion in another package of the same value China offered three years ago.

These articles suggests US is worried, finally. But I feel It’s probably too little too late. As African nations (mainly dictators) have already signed on to the China model. That’s what US get for calling them “Shit-holes”

But even with this new US agency it won’t be as easy as it sounds. “The Chinese model is bigger and quicker, if you’re a government in Africa and want to build infrastructure before the next election you probably will still go with the Chinese,” Moss concedes.