7-9 July 2017. Hamburg. The G20 Summit in Hamburg, Germany, ended with a much-anticipated focus on Africa championed by German Chancellor Angela Merkel.
The G20 Leaders’ Declaration included the launch of the G20 Africa Partnership, listing rural employment and renewable energy initiatives as well as priorities for the first seven countries participating in the “Investment Compacts” with G20 nations.
The G20 Africa Partnership builds on existing regional and international strategies in order to ensure alignment, coherence and ownership, including the efforts of the G20 Initiative on Supporting Industrialisation in Africa and LDCs launched in 2016.
As a core element of the G20 Africa Partnership, the G20 launches the initiative “Compact with Africa. in the finance track. The initiative aims at creating a favorable business envi- 3 ronment and supporting private investment, including in infrastructure, through investment Compacts with interested African countries. The country-specific investment Compacts combine individually agreed commitments by the bilateral and multilateral partners, forming a comprehensive and effective package to improve the framework for sustainable private investment.
- Compact partners comprise individual African countries, the involved International Organisations (African Development Bank, International Monetary Fund, World Bank Group), as well as interested G20 members and other partner countries and institutions. The initiative is demand-driven and focuses on country-specific circumstances and priorities. Cote d’Ivoire, Ethiopia, Ghana, Morocco, Ruanda, Senegal and Tunisia have presented their commitments and visions for investment Compacts at recent G20 meetings. Further countries have already indicated their interest in joining the initiative.
- The Compacts aim at improving the macroeconomic, business and financing frameworks for private investment (both domestic and foreign) through national and concerted action of all stakeholders on the priorities of the African countries, including in the form of capacity building measures.
The G20 leaders needed to “walk the talk” on Africa, particularly in the areas of health, technology, and the financial commitments necessary to truly deliver on a “Compact with Africa.” India’s Narendra Modi
12-13 June 2017. Berlin. The German Federal Ministry of Finance hosted the “G20 Africa Partnership – Investing in a Common Future” conference which provided backing for the G20 Africa Partnership and the Compact with Africa and presented Africa in all its modernity and variety to policy-makers and private investors.
A total of 800 guests, including 11 heads of state and government as well as more than 30 ministers, accompanied by 178 journalists present, were involved in the deliberations. At the center of the conference was the G20 “Compact with Africa“ initiative aimed at improving the conditions for investment in Africa.
- The G20 Africa Partnership Conference provided a platform for Government representatives as well as experts and private sector stakeholders to emphasize their commitment and exchange views on possible measures to support private investment.
- The conference brought together a wide variety of high-level stakeholders including the Heads of State and Government of Côte d’Ivoire, Egypt, Ghana, Guinea, Italy, Mali, Niger, Rwanda, Senegal and Tunisia. Participants emphasized that the G20 Africa Partnership and its related initiatives can be of importance in supporting African leadership and responsibility in national development efforts to achieve sustainable economic 5 development and inclusive growth.
- Much attention was given in particular to the “Compact with Africa” initiative as finance ministers from all Compact countries, Côte d’Ivoire, Ethiopia, Ghana, Morocco, Rwanda, Senegal and Tunisia attended the meeting. We welcome the announcement of additional bilateral contributions in support of the reform programs by several G20 countries and other partners, as well as strong interest shown by investors in particular countries and sectors.
G20 Compact with Africa
A key focus of the German G20 presidency in the financial sector is the deepening of global partnerships. A particular focus is on the African continent. Investment partnerships on the same level and better networked initiatives of the G20, international organizations and the African countries themselves should contribute to sustainable development and improved employment opportunities on the ground. to watch video
G20 Africa conference
On 12 and 13 June 2017, the Africa Conference of the German G20 Presidency took place in Berlin. A total of 800 guests, including 11 heads of state and government as well as more than 30 ministers, accompanied by 178 journalists present, were involved in the deliberations. At the center of the conference was the G20 ” Compact with Africa ” initiative aimed at improving the conditions for investment in Africa. to watch video
The G20 African Conference ” Investing in a Common Future ” marks a reorientation of international development cooperation. The conference was opened by Federal Chancellor Dr. Angela Merkel, the President of the African Union Alpha Condé as well as Federal Minister of Finance Dr. German politician. to watch video
The second day of the G20 African Conference is marked by parallel dialogues. The key issues focus on improved framework and financing conditions for investments and the promotion of energy investments, which contribute to more climate protection and sustainable development. The introductory symposium was opened by Bundesbank President Dr. Jens Weidmann. to watch video
The second day of the G20 African Conference was marked by various discussions. In numerous formats the conference participants were able to discuss possible forms of cooperation. Within the scope of a structured dialogue, high-ranking experts met private investors at Roundtable. to watch video
Think Big for Small Small and Medium Enterprises as Pillar for Future-oriented, Sustainable Growth B20 CROSS-THEMATIC GROUPSMALL AND MEDIUM ENTERPRISES (SMEs)POLICY PAPER 2017
The paper is the outcome of eight months of intense discussions and hard work among 129 CTG members from 23 countries and diverse economic sectors. In five teleconferences and physical meetings in Berlin and Paris the SME CTG under the leadership of Chair Rudolf Staudigl, CEO Wacker Chemie AG, developed three highly relevant recommendations to the G20:
- Facilitating SME Participation in Cross-Border Trade – G20 members should facilitate SME access to cross-border trade and global value chains (GVCs) by systematically including their voice and needs in trade agreements, by capacity building, and by easing business travel.
- Building Digital Capacities and Capabilities – G20 members should facilitate SME access to the digital economy by strengthening digital infrastructure outside industrial centers, leveraging support for international multi-stakeholder initiatives on ecommerce, and enhancing the knowledge base on SME needs.
- Advancing Financial Inclusion – G20 members should ensure the implementation of the G20/OECD High Level Principles on SME Financing, the G20 Action Plan on SME Financing and the G20 High Level Principles on Digital Financial Inclusion, in particular by strengthening financial market infrastructure, enhancing access to diversified financial instruments, and advancing digital financial technologies.
This post was originally published at PAEPARD by François Stepman. It has been republished here with permission.