With the visit of the German Chancellor, Olaf Scholz, to Nigeria amidst his ongoing tour of Africa, development organisation, ONE, has appealed to the interlocutors to not only meet verbally at eye level, but to make concrete offers.
The organisation urged Scholz to work to create incentives for investment in Africa and fill the much-vaunted “partnership at eye level” with life.
Director of ONE Germany, Stephan Exo-Kreischer, in a statement, said: “Words alone are not enough. Scholz rightly emphasises that investments in Africa are synonymous with investments in our own future. However, the idea of ‘partnership at eye level’ must not be allowed to degenerate into a mere political phrase.
“For all too often, the major industrialised nations have let Africa down. No wonder many African countries are turning away from the West. It is time that partnership-based cooperation with African states was not just mentioned in Sunday speeches but backed up with concrete action.
“This also includes the fact that Africa urgently needs increased and improved development financing. Africa definitely needs to be heard more than it has been so far. Investing in Africa is also investing in our own future.”
Director of ONE Nigeria, Stanley Achonu, therefore, called on Chancellor Scholz to advocate for development financing and greater African representation.
“Chancellor Scholz spoke out in favour of the African Union’s inclusion in the G20, which has just happened. But that is not enough: Africa must also be represented in financial institutions. In essence, Africa’s progress hinges on access to equitable and affordable investments that foster the development of homegrown solutions to both local and global challenges.
“Moreover, African nations must be included in global decision-making bodies on issues that impact them, thereby granting them control over their own destinies. The chancellor should clearly show his leadership on these issues by actively listening to the concerns of the countries of the global South and promptly translating them into concrete actions,” Achonu said.
ONE urged Germany to fulfil its share of the $80 billion commitment announced by G7 Development Financial Institutions (DFIs) in 2021 to support economic growth in Africa while supporting the call for increased African representation in global decision-making bodies.
Additionally, ONE added that Germany should lead in championing the reform of Multilateral Development Banks (MDBs), advocating for greater flexibility, resolving unfair debt systems, and facilitating more accessible finance, potentially yielding over $1 trillion in funding.
READ ALSO FROM NIGERIAN TRIBUNE
and then