Achieving inclusive and sustainable growth and jobs creation are critical to achieving the 2030 Agenda for Sustainable Development in Africa. Industrialization and investments have a multiplier effect to economic growth, jobs creation and interconnection of markets.
While both Europe and Africa share common threats in terms of security and migration, tapping into the huge potential provided by sustainable investments and industrialization will enable Africa to create the jobs needed for its young population. Over half of Africa’s population is under 25 and this is set to more than double in size by 2050. A narrow window of opportunity exists for Africa to harness a demographic dividend and use industrialization and investments to trigger inclusive growth and jobs.
Africa has an enormous potential for industrialization. With its mineral, hydrocarbon and water resources, a climate that is favorable to agriculture and its young and dynamic population, Africa can successfully become competitive, boost productivity and move on an upward path of sustainable development and prosperity.
To achieve this, it is very important to reinforce development cooperation programs with effective instruments that are supportive of private sector investment and industrialization.
2017 is a crucial year to drive home the message that increased investment and industrialization will unlock the potential for sustainable and inclusive growth, job creation and poverty reduction in Africa. A series of events in 2017 – from the G7 and G20 Summits in May and June respectively to the 5th Africa-EU Summit in November – have placed Africa high on the international agenda. These Summits are expected to confirm and further strengthen engagement and action with and within Africa as well as to define longer-term orientations with the continent, a region of opportunity and a fast-developing market that will be home to two billion people by 2050.’
In this context, “Global Africa” is being launched in Malta as a new space for policy dialogue, cooperation and exchange on African social, political and economic developments. Global Africa aims to facilitate Africa related initiatives and interaction with civil society, enterprise, cultural organizations, parliaments, government agencies, media, political organizations and educational establishments at the national, regional and international level. Global Africa’s approach is to encourage creative thinking, innovation and foresight and to seek partnerships with a wide range of stakeholders.