Why the West cannot afford to fall behind in Africa

The West’s relationship with Africa matters. The world’s oldest continent, today Africa is also its youngest, with 60% of its population under the age of 25. Its huge potential for growth is underscored by the fact that Africa is home to a staggering 8 of the 15 fastest growing economies in the world. With its population set to double by 2050, investing in the economic power of this young population will be absolutely key to the success of the future. I’m pleased to see Governments, including the UK, begin to lean into our partnerships with Africa but is it enough and is it too late?

In recent years the bandwidth of major western countries has understandably been stretched. In a time of increased uncertainty, strategic competition, and the return of war in Europe, it is of course entirely right that the attention of major democracies is directed at these significant geopolitical challenges. However, I want to put forward an argument that these challenges must not mean that we fall behind with the African continent.

Lest we forget that as our own economies have battled with the challenges of Covid-19, Russia’s illegal invasion of Ukraine and soaring energy prices, the effects of these have often been felt hardest by African nations. Following the pandemic, the number of people living in poverty in Africa is estimated to be at least 485 million, which is over 40% of the continent’s total population. Moreover, millions of people in the Horn of Africa are currently facing or at risk of starvation, as a prolonged drought and rising grain prices has led to a major humanitarian catastrophe in the region.

But the argument for a renewed focus on engagement with African nations goes far beyond a moral argument – though investing in development and responding to humanitarian crises is indeed the right thing to do.

As a trading nation, our success depends on global markets. A strong African economy and healthy workforce is good news for British people as well as Africans. As the US-Africa Leaders Summit and the UK-Africa Investment Summit have demonstrated, there are significant opportunities that exist for co-created economic partnerships, which promise mutual economic benefit. Africa’s GDP is set to reach $3.2 trillion in the next five years with exciting opportunities existing in key industries of the future, including tech.

Working in the private sector, I’ve seen the hugely integral role investing in international development and emerging economies plays in successful business. Gone are the days when international development was regarded as a charitable wing that sat firmly in the Corporate Social Responsibility Team. From H&M and Deloitte to HSBC and IKEA, successful global businesses know that as a trading nation our destiny is intertwined with that of our international partners. And among our international partners, I firmly believe that Africa is key.

To harness these opportunities, and to ensure we support African populations currently facing severe crises, what is required is a long-term and strategic approach to engagement. Major western countries should both think critically about how to ensure that development support is best harnessed to respond to current crises but also work to build long-term economic partnerships for the future. Both the UK and the US have already made some progress on this via innovative frameworks such as the Just Energy Transition (JET) Partnership to decarbonise South Africa’s economy, or bilateral initiatives like the UK-Kenya Strategic Partnership. However, in the coming years more should be done to ensure that Africa remains a priority for continued investment to ensure that African economies are able to recover, grow and prosper.

We should also not forget that when we fail to engage, it creates a space for others to fill. This could not be more clear than in Africa, where China has increasingly become the lender and development partner of first resort. China has been investing huge sums into Africa since 1977. They saw the huge potential in the continent and have gone at it with a vengeance, gaining a foothold in the region (and building up significant debt) over the past four decades.

The West cannot afford to fall behind as other countries, including hostile states, will be only too keen to step up and fill our void.

This has not only had a detrimental impact on democratic governance in some African countries, but also made it harder to generate support for global priorities, as we saw when nearly half of all African nations at the UN chose to abstain on the motion to condemn Russia’s invasion of Ukraine. And while we should always stress African agency in determining their own global roles, we would undoubtedly do well to make common cause with African nations who want an alternative to Chinese investment and who want partnerships that prioritise both economic development and strong democratic governance.

As we redefine our international role, there is a golden opportunity for Britain to lead on effecting change which will benefit generations to come, and Africa will be central to this. Both Britain and the US are true development superpowers when we use the brilliant tools at our disposal – of trade, aid and diplomacy – to champion our values at home and abroad. We urgently need to reset our relationship with Africa. The private sector stood up long ago and realised the importance of the continent to global affairs and trade. The West cannot afford to fall behind as other countries, including hostile states, will be only too keen to step up and fill our void.