41. Gateway to growth: How the European Green Deal can strengthen Africa’s and Europe’s economies
- Author:
- Michaël Tanchum
- Publication Date:
- 01-2022
- Content Type:
- Policy Brief
- Institution:
- European Council on Foreign Relations (ECFR)
- Abstract:
- In much of Africa, growth is being driven by “green energy innovation ecosystems”, which combine telecoms, digital platforms, solar power, and the internet of things. European companies and states risk losing out on business opportunities and political influence if they fail to integrate their services and infrastructure into these emerging ecosystems. China and other economic and geopolitical rivals will become African states’ main partner if Europeans stand aside from this key growth trajectory. The EU can: assist on offering world-class data regulation and supporting the construction of data centres; support the construction of other infrastructure, such as for 5G; and help roll out off-grid solar power generation and electric vehicle manufacturing. Europeans should work in joint ventures with African firms as this model is proven to create value added that China’s investments often fail to produce. The EU should merge its nascent Global Gateway international connectivity programme with the European Green Deal. The objectives of both require similar levels of investment in African infrastructure and they can unlock the investment potential of European public-private partnerships.
- Topic:
- Foreign Policy, European Union, Economy, Innovation, and Green Deal
- Political Geography:
- Africa, Europe, and Sub-Saharan Africa