Contrary to the truncated representation of Africa dominant in Canada, and particularly in government bodies and sometimes in the media, the continent is making progress in many essential areas, including its integration into the international community. In addition, economic growth is taking place there as well as advanced technologies. Finally, major works are providing it with the infrastructure that has been so lacking until now.
Deprived until very recently of the representation to which it is entitled in world affairs, Africa, through the African Union, was recently admitted to the G20. Two more of its countries have just joined BRICS + 5.
In addition, the continent’s presence on the boards of directors of the World Bank and the Monetary Fund has been increased. Finally, Africa benefits from renewed cooperation with all the powers of the world, including the United States, China, the European Union and some of its member countries, India, Japan, the Gulf countries, etc. I would add that its main financial institution, the African Development Bank, benefits from a more than favorable evaluation from its 82 shareholder countries and evaluation agencies, which grant it the AAA rating, the highest on the world market.
On the economic and commercial front, the deployment of the African Continental Free Trade Area has begun and several countries on the continent are already applying the rules and obligations that will prevail in what will, tomorrow, be the largest integrated market in the world. Finally, since we have to choose, eleven of the twenty countries with the strongest economic growth in the world in 2024 are African.
In the crucial areas of communications, energy, transport and urban development, Africa is currently benefiting from considerable investments.
For example, the Americans are participating, at a high level, in financing the Lobito corridor, to the tune of 2.3 billion dollars. A major communication route of 1,300 kilometers, the corridor will allow, for the first time, to cross the continent from east to west. Note that, according to Bloomberg, the volume of payment defaults for major works is, in Africa, the lowest in the world.
As with all regions of the planet, the continent’s results are not only positive. But, on this Africa Day, it is appropriate to celebrate its progress, which is important, and to ask ourselves how Canada can, once again, contribute effectively and sustainably within the framework of a win-win partnership.