The Africa Roundtable N°3
Publications: The Africa Roundtable N°3
November 30, 2023
Following the invitation of the Ministry of Economy, Planning & International Cooperation, the third edition of The Africa Roundtable took place in Dakar, Senegal from November 30 until December 2 2022. Around 30 decision-makers from Europe and Africa met to discuss collaborative plans of action for a just green transition, energy and agriculture, subsequent to COP27.
The preceding edition of The Africa Roundtable in May 2022 in Berlin had focused on economic recovery, financial inclusion and pandemic preparedness. During this first edition on African soil, green recovery was central to the debate in Dakar. Participants had made very clear that recovery efforts need to not only target economic losses, but be in line with climate goals. Preparedness transcends the issue of pandemics and is crucial to climate action. Hence, to take up the issues of green recovery and climate finance, the third edition in Dakar was held under the credo “Europe and Africa: Together for a Just Green Transition”.
More Concessional Finance
Development finance institutions need to tailor packages that respond to the actual and self-determined needs of African markets and governments. Ratings of African economies need to accurately reflect the realities of these countries, which can be achieved through more dialogue, data sharing and transparency.
Change the Narrative
We ask for financial support for young entrepreneurs in Africa. Furthermore, we call on all sectors to join forces to raise awareness and present Africa’s potential as an attractive investment location. Private investors must be supported through information, transparency, and reliable public guarantees.
We call for pragmatic and context-dependent solutions to electrification and climate action. Natural gas and oil must be understood as an affordable and available resource for Africa’s development and as a bridge technology while simultaneously diversifying portfolios towards renewables.
Overall, agriculture needs to be revitalized as a business sector and made more attractive as a career. Open fertilizer supply chains to farm African soil profitably must be secured. Furthermore, an AU-EU agricultural platform should be established to prevent trade disruptions and food crises in the future.
Bi- and Multilateral Relations
We call for COP27 to be followed by action, or the relationship between the two continents might be seriously damaged. The bi- and multilateral relations must be deepened in order to create new projects between African and European states.
Stephanie Igunbor, email@example.com
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