As African leaders converged on Germany’s capital earlier this week to attend the G20 ‘Compact for Africa’ meeting, the African Union (AU) chief called for “positive competition” from Europe in the continent, which would be more welcome than its criticism of Chinese investments for saddling poor countries with huge debts. There was a need for “positive competition”. There is no monopoly anywhere… Everyone has a place,” he said. The ‘Compact for Africa’ that brings together the G20 and 13 African countries, with support from organizations including the World Bank and International Monetary Fund, aims to mobilize more private, sustainable investments in African countries. While welcoming Scholz’s praise of Africa’s potential and his call for investment, an African diplomat who did not wish to be identified also added that “at the moment Europe needs Africa more than Africa needs Europe.”

Source: The North Africa Journal November 25, 2023 07:13 UTC