South African President Cyril Ramaphosa reinforced co-operation between the governments of South Africa and Germany on bilateral and global issues at the G20 Investment Summit and the G20 Compact with Africa Conference in Berlin. He underscored the critical importance of German investment to South Africa’s efforts to stimulate sustainable and inclusive economic growth, the Presidency said on 31 October.
Investment was needed in hard infrastructure such as roads and broadband connections in developing countries if they were to prosper in the new digital economy and attain the Sustainable Development Goals, speakers said at the World Investment Forum’s Global Leaders Investment Summit on 24 October. But stable regulatory and fiscal regimes were a precondition of attracting such investment.
The Cotonou Agreement, signed in 2000, regulates relations between the EU and the 79 African, Caribbean and Pacific countries, but it is set to expire in 2020. Negotiations for a new treaty have been under way since the end of September. “But these are not self-fulfilling,” warns Evita Schmieg from Germany’s German Institute for International and Security Affairs.
The African Union declared 2018 the year of combating corruption in Africa, and the chairperson of the African Union Advisory Board on Corruption, Bégoto Miarom, revealed that 40 nations had already signed the convention on anti-corruption. They were now collectively looking to implement strategies and share information that could be effective across the continent.
Domestic public resources are identified as fundamental for development financing. One of the ways in which countries can mobilise these resources is by increasing tax revenues, yet this remains a key challenge for some. What can be done?
The 18th International Anti-Corruption Conference ended with a strong call to countries to renew their commitments to the fight against corruption. Martin Bille Hermann, Denmark’s state secretary for development policy, urged countries to endorse the High-Level Segment Joint Statement, adding that it would act as a tool that activists and watchdogs could use to hold their governments, organisations, and businesses to account.
GEGAfrica Event Report, October 2018
Africa is already tapping into the possibilities created by digitalisation and the mobile revolution. At the same time, three quarters of the African population lack access to the internet. “In simple terms, insufficient emphasis on this area will result in missed economic opportunities for the next generation of African people and businesses,” says Mukhisa Kituyi, UNCTAD secretary-general.
The 18th International Anti-Corruption Conference (IACC) will take place from 22-24 October in Copenhagen, Denmark under the theme “Together for development, peace and security: now is the time to act”. The ambition is to move the fight against corruption from words to action.
The GEGAfrica project has been funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies.