EU Africa Summit- A Silent Slap On Chinese Geopolitics

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The EU African Summit has some major targets to achieve. The event is to take place today in Brussels. Everyone is vying for the African pie now; more so as China eyes making this continent also grateful and indebted to it.

But plans to organize a more conducive summit have been firming for the last two years between Europe and Africa. There are plans to unveil six initiatives at the Summit, including three investment packages, as part of what EU calls a ‘Prosperous and Sustainable Partnership’.

 There is obviously sense of power at play, but not as stark and bad as China’s mind over sovereignty control. In a public statement, EU Commission President Ursula Von der Leyen has confirmed that investments will be the ‘heart’ of the summit. Africa should be feeling happy and elated. But it needs to move ahead with caution as well.

 

The promising Global Gateway is said to be comprised of an investment plan worth more than €150 billion for Africa. France is playing its own games of being the savior. Obviously, Macron wants to show he cares and that secures his future presidency too.

Redirecting Special Drawing Rights to Africa has been one of French President Emmanuel Macron’s projects. Insiders say that the French EU Council presidency has made a concerted push on SDRs. The $450 billion Special Drawing Rights were issued by the International Monetary Fund in 2021. It is worth noting that a large chunk of this was allocated to EU member states; and reallocation to Africa was a French push, to help it cover costs of the Covid pandemic.

The latest is also good news for Africa. However, European investment in vaccine production sites in Africa has come through. Signs of a progressing pharmaceutical production industry in Africa is also becoming real. While South Africa is becoming reliant and produced its first batch of Moderna vaccines recently; help from outside will be needed for it to come at par with other countries in handling its Covid-19 onslaught.


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