Canada Risks Missing Out On Africa's Trade Boom Under Mark Carney

(MENAFN- The Conversation) At the G20 summit in South Africa in November, Prime Minister Mark Carney announced several new initiatives, including talks toward a Foreign Investment Promotion and Protection Agreement (FIPA) with South Africa.

But when asked about prioritizing Africa's economic opportunities for Canada, Carney said Africa is not among his government's early priorities because other regions offered“the most immediate return.” That remark was at odds with what many Canadians and African partners have been urging Canadian officials to do: treat Africa as a core partner in Canada's economic diversification plan, diplomatic and geopolitical future.

Read more: Why Canada must seize the moment and launch its long-awaited Africa strategy

Shortly after Carney's remarks, in December, the Senate's Standing Committee on Foreign Affairs and International Trade released a landmark report entitled Canada–Africa: Seizing a Strategic Opportunity. It urged the federal government to engage Africa now with resources, ambition and a concrete action plan or risk being left behind.

Together, these two developments reveal a central tension shaping Canada's Africa policy at the moment - and precisely when Africa's global standing is rising.

Why this matters now

Africa's demographic and economic trajectory is unmistakable. The continent's working-age population is expanding faster than any other region, 12 of the world's 20 fastest-growing economies are in Africa and the African Continental Free Trade Area (AfCFTA), which aims to create one of the world's largest integrated markets, is already in motion.

This demographic dividend and market potential matter not only to African states, but to countries like Canada seeking new trade diversification partners and growth opportunities.

Against this backdrop, the Senate's report provides 21 recommendations - including the need for a detailed Africa Strategy action plan with timelines and resources, regular high-level dialogue with the African Union, support for AfCFTA implementation, strengthened trade commissioner services and enhanced diaspora engagement. It urges the government to match its promises with real resources and commitment.

Canada's Africa Strategy

The government's March 2025 Canada's Africa Strategy was widely welcomed as a positive step toward a more coherent foreign policy on Africa. It articulates goals for shared prosperity, security and mutual co-operation, acknowledging Africa's growing place in the world.

My own earlier analysis on Canadian engagement in Africa highlighted that Canada's new strategy offered a foundation to rethink how it builds partnerships across the continent - not simply viewing Africa as a development recipient, but as a region of strategic partnership and economic opportunity.

I also noted how Canada could learn from China's long-term engagement model, particularly its emphasis on sustained relationships, infrastructure and market access, while offering a distinct, values-based alternative.

Delivery is the real test

Canada's Africa Strategy articulates a necessary vision, but follow-through remains limited. That gap is visible in Canada's broader policy signals.

Even after the launch of the strategy, Africa remains marginal in Canada's trade and economic planning. The 2025 federal budget identified priority trade markets in Europe and Asia, but not Africa, despite stated support for the AfCFTA. Such inconsistencies suggest lingering hesitation in committing political capital to Africa.

Diplomatic choices reinforce this impression. Limiting Carney's G20 trip to South Africa alone missed an opportunity to signal a continentwide vision.

A short stop in another regional hub would have underscored Canada's recognition of Africa's diversity and strategic importance. Instead, the narrow itinerary conveyed a constrained reading of Africa's geopolitical and economic landscape. African governments notice these signals, especially at a time when they are actively diversifying external partnerships.

None of this means Canada lacks opportunities. The nuclear co-operation agreement with South Africa signed at the G20 has real potential. A future FIPA could offer greater certainty for Canadian investors in South Africa. And although tentative, the reference to AfCFTA engagement at the G20 is significant.

But for these opportunities to lead to real outcomes, Canada needs a more deliberate and sustained approach backed by resources and political commitment.

Africa's expanding consumer market

Why does this matter for Canadians? Africa has a young and fast-growing population, a burgeoning middle class and an expanding consumer market. Canadian firms, from clean technology and education to agribusiness and services, can benefit if supported at the right time with the right tools.

Diplomatic influence from a continent of 54 countries also flows from consistency and commitment; not intermittent engagement.

For the first time, the G20 in South Africa was a reminder that Africa is no longer peripheral to global politics. African markets are diverse, fast-changing and increasingly central to the global economy. This requires Canada to look past short-term returns, acknowledging Africa's critical role in its economic future and investing resources to that end.

Other countries like China, Turkey, Brazil and Gulf states have already recognized this reality. Every year Canada delays, it risks losing ground that will be hard to reclaim.

Read more: African nations can do more to benefit from ties with China, the world's second-strongest economy

Time to act

Despite the strategy's imperfections, Canada now has a plan for engaging with Africa. But a plan is only as good as its implementation.

The Senate report is timely and calls for committing real resources, expanding diplomatic and trade support structures and elevating Africa in Canada's foreign policy narrative well beyond occasional summits. It means sustained leadership attention from the prime minister and senior ministers.

If Canada seizes this moment with purpose, resources and political will, it can build genuine partnerships that benefit both Canadians and African partners. The Senate's report aligns with the view that Africa is not a charity case; it is a strategic frontier for trade, innovation and geopolitical influence. Delivery must be the priority going forward, or Canada will be left behind.

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