Bonn. German development agency GIZ hosted a panel discussion Wednesday evening on private-sector cooperation and sustainable growth in Africa. Experts discussed strategy and sustainability.
Old ideas with new packaging - that’s how Julia Leininger described intentions that call for for strengthening development in Africa through private investment. The German development agency GIZ hosted a panel discussion on Wednesday evening with the title “Old neighbor, new partner - opportunities for growth with Africa”. The role of private investments in Africa was the main topic of the evening. It was part of a series of discussions “Bonn und die Welt” (Bonn and the world).
Speaking about the opportunities and risks of such strategies were Julia Leininger of the German Institute for Development Policy (DIE), Amadou Diallo from DHL Global Forwarding, and Gerald Guskowski from GIZ. The evening was moderated by GA political reporter Lutz Warkalla.
For Julia Leininger, the key part of the strategy is getting the benefits of investment to the wider society. Private investment is urgently needed in Africa. More important, however, is where those investments are going. Amadou Diallo feels there is not enough incentive for German businesses. Part of the problem is local and regional decision-makers in Africa who don’t present their countries in an attractive enough way. Apart from this, it is extremely difficult for African companies to become competitive in the free economy.
Organizations can help best by sharing know-how, which enhances the sustainability of the financial cooperation, explained Gerald Guskowski. Through the work of the G20, a good framework of conditions for strengthened financial cooperation has been achieved.
Diallo believes it is important to single out the innovators and use their influence, relying on successful countries which have a strong pull. Leininger says the clock is ticking because in addition to the known challenges that are faced, there are new problematic trends such as urbanization, digitalization and climate change. And increasing consumption in Africa creates a dynamic that affects the whole world. As a result, food could also become scarce in Europe and Asia.
(Orig. text: Hannah Rüdiger | translation: Carol Kloeppel)