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AU Urges EU-Africa Collaboration on Digital Investment
(MENAFN) The African Union (AU) on Monday urged stronger collaboration between Europe and Africa in digital investments, warning against adopting a “narrow-minded” approach and protectionist measures.
AU Commission Chair Mahmoud Ali Youssouf, speaking at the opening of the 7th EU-Africa Summit in Luanda, Angola, emphasized that the continent requires “more investment in innovation, technology, artificial intelligence, and, in broader terms, in the digital economy.”
He highlighted that nations like China and the US are channeling “hundreds of billions of dollars ... in artificial intelligence,” underscoring Africa’s need for financial backing. Youssouf added, "Because developing together will certainly be more beneficial to all of us, instead of the narrow-minded positioning in terms of protectionism and also selfishness."
European Commission President Ursula von der Leyen also addressed the summit, observing that the “global environment has become harsher” since the previous meeting in 2022, but stressed that the bond between Africa and Europe “has only grown closer.”
She pointed out that Europe remains Africa’s principal trading partner and investor, providing "240 billion euros in 2023 alone," with potential for further growth.
Von der Leyen further stated, “This continent has everything it takes to deliver prosperity at home and to shape the global economy of tomorrow,” highlighting that Africa possesses “60% of the world’s best solar resources.”
AU Commission Chair Mahmoud Ali Youssouf, speaking at the opening of the 7th EU-Africa Summit in Luanda, Angola, emphasized that the continent requires “more investment in innovation, technology, artificial intelligence, and, in broader terms, in the digital economy.”
He highlighted that nations like China and the US are channeling “hundreds of billions of dollars ... in artificial intelligence,” underscoring Africa’s need for financial backing. Youssouf added, "Because developing together will certainly be more beneficial to all of us, instead of the narrow-minded positioning in terms of protectionism and also selfishness."
European Commission President Ursula von der Leyen also addressed the summit, observing that the “global environment has become harsher” since the previous meeting in 2022, but stressed that the bond between Africa and Europe “has only grown closer.”
She pointed out that Europe remains Africa’s principal trading partner and investor, providing "240 billion euros in 2023 alone," with potential for further growth.
Von der Leyen further stated, “This continent has everything it takes to deliver prosperity at home and to shape the global economy of tomorrow,” highlighting that Africa possesses “60% of the world’s best solar resources.”
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