Summit: Unlocking Africa's economic potential

29 November 2021. This event is independent from the EABF organised by the European Commission and the African Union.

The fourth edition of the EU-Africa Business Summit, held in a new hybrid format, discussed the most critical economic challenges shaping the shared future of both continents by bringing influential business leaders, policymakers and experts together.

• The EU is Africa’s largest trade and investment partner, and the main supporter of the African Continental
• Free Trade Area (AfCFTA) with €72.5 million mobilised by the end of 2020. EU-27 Foreign Direct Investment (FDI) stock in Africa was
• €222 billion, compared to €42 billion from the US and €38 from China. In 2018, the EU-27 accounted for 32% of Africa’s total trade, whereas China accounted for 17% and the US 6%

The recording of the selected sessions below can be replayed here: https://www.eu-africasummit.eu/euabs2021/

WELCOMEREPLAY

Jutta Urpilainen
European Commissioner for International Partnerships

Albert Muchanga
Commissioner for Trade and Industry of the African Union Commission

Ricardo Mourinho Felix
Vice President of European Investment Bank

Arnaud Thysen
Director General
European Business Summits

EXCLUSIVE INTERVIEW WITH PHIL HOGANREPLAY

Phil Hogan
Former EU Commissioner for Agriculture

Jerry Fisayo-Bambi
Africanews

AGRICULTURE/ AGRIBUSINESS: A STRONGER AGRICULTURE FOR A FAIRER RURAL DEVELOPMENT

The African agriculture sector must transition toward agribusiness. Globally competitive agriculture will enable Africa to benefit from its natural resources, develop its rural areas and provide opportunities for future generations. To this end, the European Union is assuming its role to support Africa realise its agri-food potential.

In agriculture and agribusiness there is an urgent need for public policies to attract investments and to implement climate smart policies. Innovative financial instruments such as the EU External Investment Plan (EIP) and its specific investment window on agriculture can support job creation for the youth notably in the cocoa sector.

Furthermore, innovative technology and data can help farming communities to thrive through better market access and by enabling products to be sold at higher post-harvest prices. This, in turn, will help generate greater interest from young people in the opportunities offered by the agricultural sector. Cooperation between Africa and the EU is essential to transform African agriculture and feed the growing population.PLAY

Phil Hogan
Former EU Commissioner for Agriculture

Godfrey Bahiigwa
Director of the Agriculture Department, African Union Commission 

Iliass El Fali
Advisor to OCP’s Chairman & CEO and former COO, OCP GROUP

Daniel Nahon
Professor, Aix-Marseille University

Samira Rafaela
Member of the European Parliament

Willi Schulz-Greve
Head of Unit DG Agriculture and Rural Development (AGRI), European Commission

GREEN TRANSITION: CIRCULAR ECONOMY AND INTERNATIONAL COOPERATION: FAVOURING RENEWABLE AND SUSTAINABLE ENERGY SOURCES

2021 is a crucial year for Climate Action. The UN Climate Change Conference of the Parties (COP26) and the 15th Conference of the Parties to the Biodiversity Convention will both address the biggest challenges of the 21st century, Climate change and the Green transition. A stronger partnership between the EU and Africa will maximise the benefits of the Green transition and the circular economy, ensuring that both continents’ economic recovery is well-integrated and aligned to the 2030 Agenda and the African 2063 Agenda Fighting climate change and accomplishing a clean and just energy transition are the biggest challenges of the 21st century. Africa’s energy industry is facing extraordinary circumstances. An ongoing energy transition and new efforts to decarbonize the world are weighing on oil demand. The shale revolution is exacerbating these pressures. New technologies are rapidly developing, including green hydrogen production systems. Finally, the Covid-19 pandemic has wrought havoc on markets around the world, accelerating and intensifying existing trends. The session will address the results of the UN Climate Conferences and provide a framework not only for moving forward in a post-COVID-19 context, but excelling in it.

Federico Maria Grati
Head of Agroenergy Services, ENI

Patrick Child
Deputy Director General, DG ENVI

Steven Stone
Deputy Director, Economy Division UNEP

Shada Islam
Brussels-based commentator and analyst

EXCLUSIVE INTERVIEW WITH PATRICK CHILD, DEPUTY DIRECTOR GENERAL, DG ENVI

REPLAY

Partick Child
Deputy Director General, DG ENVI