In recent years, German Africa policy has focused strongly on leveraging private capital to achieve development goals on the continent. The economic consequences of the Covid-19 pandemic have further increased the need for private capital. This also increases the role of promoting employment-intensive foreign direct investment (FDI) in development cooperation, which in turn relies on strong local partners and economic cycles.
However, FDI inflows to Africa plummeted in 2020 in the wake of the global Covid crisis and the significant decline is estimated to continue until 2022. In addition, African firms and investors are themselves under pressure from the temporary collapse of national and international markets and the disruption of trade links. At the same time, the multiple social challenges and the acute consequences of climate change on the continent require that FDI promotion also considers a growing responsibility for inclusion and environmental sustainability in order to successfully create dignified jobs..
How can the promotion of foreign direct investment from Germany and Europe be made more socially and ecologically sustainable? What are the greatest challenges here and to what extent must development cooperation improve or even reposition itself? What role do a growing African middle class and local economic development in general play in this?
These and other questions were the focus of the discussion to which Ottmar von Holtz MP, the German Africa Foundation and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH invited.
Welcome and Closing Remarks:
Ottmar von Holtz MP, Chairman of the Bundestag parliamentary group Bündnis’90/Die Grünen in the Committee for Economic Cooperation and Development.
Regina Honu, CEO, Soronko Academy, Ghana
Elsie Kanza, Head of Regional Agenda on Africa, World Economic Forum and Fellow of the Robert Bosch Academy 2021
Dr Sabine Müller, Director General Africa Department, GIZ
Kizito Odhiambo, Founder and CEO, agriBORA
Dr Stefan Oswald, Head of Department “Marshall Plan with Africa; Flight and Migration”, Federal Ministry of Economic Cooperation and Development (BMZ)
Sabine Odhiambo, Deputy Secretary General, German Africa Foundation