Between 2014 and 2020, the European Union has spent €74 million on the establishment of the continental free trade area, which if it becomes effective could restore Europe's position as a privileged partner on the continent.
Redefining the Africa-Europe partnership
But as the sixth EU-AU summit approaches, Europe is no longer the continent's priority partner, outpaced by emerging powers, due to the complexity of financing procedures, hence the need to redesign the Africa-Europe partnership. Business Africa welcomes Christopher Dembik, an economist.
The AU summit's economic resolutions
Strengthening resilience in terms of nutrition and food security on the African continent is the objective of the African Union for the year 2022. To get Africa out of its food dependency, leaders proposed investing in agri-food systems, exploiting the continent's arable land and revising partnerships by focusing on concrete mega projects.
Tanzania and Burundi dream of a railway line
Tanzania and Burundi are strengthening their ties, with the two East African countries aiming to build a railway line that will link the port of Dar es Salaam to other countries such as the Democratic Republic of Congo. The authorities of both countries reassure that the financing will probably not exceed 900 million dollars.