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With the Compact with Africa, the G20 countries have introduced a new concept for African economic development that is meant to strengthen self-responsibility and involve private capital. So far, however, only Germany has been active regarding the Compact. We heard what the target groups think of the concept at the G20 Compact with Africa conference in Berlin in late October.

Under their German presidency, the G20 adopted the Compact with Africa Hamburg/Germany in 2017. In late October 2018, Germany’s Federal Chancellor Angela Merkel invited G20 members to a conference in Berlin/Germany to discuss the details of the Compact, praising the concept as “modern development co-operation”. But what do the target groups think of it? 

Strengthening trade

As a continent, Africa consists of 53 sovereign states that have developed very differently over the last few decades. According to Hans Peter Lankes of the World Bank, the decline in commodity prices has above all pulled the fragile countries into a downward trend in terms of both politics and the economy. On the other hand, there are prosperous African countries that can boast high growth rates. There, a large number of small and medium-sized businesses already exist that have set up manufacturing processes for processed goods. “Processing depends on trade,” Lankes explains. In contrast to the trend of declining foreign direct investment, the Compact with Africa states have been able to record rising investments.

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