Traditionally strategies aimed at accelerating economic development in Africa have focused on strengthening domestic resource mobilization and attracting more external capital to fill the large financing gaps faced by the continent. Much less attention has been paid to the illicit export of Africa’s capital – capital flight. This approach has perpetuated Africa’s dependence on external financing while ‘normalizing’ the plunder of Africa’s wealth through unfair trade and illicit financial flows.
Germany’s assumption of the G20 presidency kicked off on 1 December 2016 with a concerted presentation of its priorities, as the multilateral economic and financial forum looks towards its Hamburg Summit of July 2017. Of note among these priorities is the Compact with Africa through which Germany seeks to intensify partnerships with Africa
Africa has recently gained a lot of attention in international politics, particularly in Germany and the European Union. However, various unknowns on the African continent and Africa’s complex interdependence with world politics leave many question marks for inter- and transnational cooperation. It is certain that sustainable development in Africa will only be achieved through structural political and economic Transformation.
Just at the time that the world signed a landmark development compact – the 2030 Agenda – and climate change agreement, the slogan ‘Take our country back’ or ‘Make America great again’ became the clarion anti-establishment call in parts of Europe and the US. The liberal international order, especially of the last 25 years, is considered by many analysts to be under threat and Germany is regarded by some as a bastion against its decline.