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Monday, 08 May 2017

EU-Africa Business Forum

The European Commission (EU), confirmed that the EU-Africa Business Forum held a consultation with African business leaders. The EU announced its €4.1 billion External Investment Plan (EIP) ahead of the 2017 Africa-EU Heads of State Summit, at a Dialogue co-hosted by Africa investor (Ai) in Durban, South Africa on 3 May 2017. The EIP was announced for the first time in Africa and will exist to encourage investment in Africa and to strengthen partnerships that contribute to the attainment of the Sustainable Development Goals (SDGs). The facility is expected to leverage more than €44 billion of investments between now and 2020 and it will also facilitate blended finance instruments that catalyse EU and African private sector development. The invitation-only EU-Africa Business Forum CEO Dialogue, co-hosted with Ai, was designed to engage African and European business leaders on the EU’s commitments and initiatives to foster private sector development in Africa. The dialogue’s objectives were to; announce the External Investment Plan; initiate a consultation with the private sector on recommendations for the EU-Africa Business Forum that will take place early June in Brussels and provide critical insights that will be shared with European and African Heads of State during the Summit in Abidjan in November 2017. The dialogue also aimed to advance a more permanent, sustainable Business Development for Africa Platform; to act as an advisory mechanism, between European and African business leaders as well as the European Union.

Source: African investor