Time for a new deal with Africa

Apr 20, 2023 | Business | 0 comments

On Tuesday, the French Council of Investors in Africa (CIAN) organised a forum in Paris with the theme “Time for a new deal with Africa”. The African continent is a major supplier of energy to the European Union and possesses many raw materials and rare metals that are crucial for the energy transition and are highly sought after globally.

Anthony Nkinzo Kamole, Director General of the Democratic Republic of Congo’s (DRC) National Investment Agency, believes that global development cannot happen without Africa. He emphasised the importance of the DRC in this development, particularly in the coltan, phosphate, and potash industries.

To achieve industrialisation, the DRC is relying on its “Industrialisation Master Plan”, which costs $58 billion and focuses on the agri-food sector, energy, and infrastructure. European partners will be involved in these projects.

In Senegal, the government is actively reforming the business environment to create better conditions for companies. An international forum on investment called Invest in Senegal is planned for July to identify new prospects for both the public and private sectors.

Delegations from Niger, Chad, and the Congo also attended the conference, all agreeing on the need for a paradigm shift to ensure local production and better wealth redistribution.

Overall, African countries are open to partnerships in the era of the New Deal, provided they are mutually beneficial.