Redefining Africa-Europe Partnerships for Shared Prosperity

..............𝑎𝑠 𝑅𝑡 𝐻𝑜𝑛 𝐵𝑒𝑛𝑗𝑎𝑚𝑖𝑛 𝐾𝑎𝑙𝑢 𝑝𝑟𝑜𝑝𝑜𝑠𝑒𝑠 𝑡ℎ𝑒 𝑐𝑜𝑛𝑐𝑒𝑝𝑡 𝑜𝑓 𝑛𝑒𝑎𝑟-𝑠ℎ𝑜𝑟𝑖𝑛𝑔 𝑎𝑠 𝑎 𝑠𝑜𝑙𝑢𝑡𝑖𝑜𝑛 𝑡𝑜 𝑏𝑜𝑜𝑠𝑡 𝐴𝑓𝑟𝑖𝑐𝑎'𝑠 𝑒𝑐𝑜𝑛𝑜𝑚𝑖𝑐 𝑔𝑟𝑜𝑤𝑡ℎ

On June 24th, the deputy speaker for the Nigerian House of Representatives, the rt Hon Benjamin Kalu, delivered a powerful speech at the EU-Africa Roundtable in Brussels. 

In his address, he presented a bold African perspective on redefining the partnership between Africa and Europe for shared prosperity. 

He proposed the concept of "near-shoring" as a solution to boost Africa's economic growth and reduce migration, by bringing European technology and industries closer to Africa’s raw materials.

As the world continues to face economic challenges, it is more important than ever for Africa and Europe to join hands in creating mutually beneficial partnerships. 

Rt Hon Benjamin Kalu's proposal of "near-shoring" is a prime example of such a partnership. 

This concept involves bringing European industries and technologies closer to Africa's raw materials, thereby creating a symbiotic relationship between the two continents.

One of the major benefits of near-shoring is its potential to promote Africa's economic growth. 

By investing in value-added industries and infrastructure in Africa, the EU can help create job opportunities and support the growth of local economies. 

This will not only benefit Africans but also open up new markets for European businesses, leading to shared economic prosperity.

In addition, near-shoring can also address the issue of migration. The Deputy Speaker highlighted the need to transform migration challenges into economic opportunities. 

By investing in Africa's economic development, the EU can create a conducive environment for its citizens, thereby reducing the need to migrate in search of better opportunities. 

This not only benefits both continents but also has a positive impact on the global economy.

Rt Hon Benjamin Kalu also emphasized the need for an African-led, EU-supported security framework. In order to foster economic growth, it is crucial to have a stable and secure environment. 

By supporting and working closely with African institutions, the EU can help create a more secure and conducive environment for investments, ultimately leading to shared prosperity.

Furthermore, the Deputy Speaker called for fairer credit ratings for African institutions. This is a crucial step in providing African countries with access to much-needed financing for their development projects. 

By acknowledging the progress and potential of African institutions, the EU can support and encourage their growth, ultimately leading to a thriving African economy.

Another vital aspect of Rt Hon Benjamin Kalu's proposal is investment in world-class universities and institutions across Africa. 

By investing in education and research, the EU can help bridge the skills gap and promote innovation in Africa. 

This will not only boost the continent's economic growth but also create a more competitive and productive workforce.

Let me conclude by saying that Rt Hon Benjamin Kalu's address at the EU-Africa Roundtable highlighted the crucial role of collaboration between Africa and Europe in achieving shared prosperity. 

The concept of near-shoring presents a unique opportunity for both continents to work together towards economic growth and reducing migration. 

With the EU's support, Africa can unlock its full potential, paving the way for a stronger and more prosperous partnership between the two continents. 

It is time for Africa and Europe to join hands and redefine the partnership for a better future for all.

𝓘𝔂𝓴𝓮  𝓜𝓫𝓪

s.ʟ.ᴀ ᴅᴇᴘᴜᴛʏ sᴘᴇᴀᴋᴇʀ ʜ.ᴏ.ʀ