When Group of 20 (G-20) leaders meet in Hamburg this week, they will rally around a maritime image: a reef knot. The sailors’ knot is the symbol of Germany’s G-20 presidency and it reflects the ties among the countries. Like the knotted rope, their world is interconnected — and increasingly so.
"Our task is to shape the interconnected world," is how Chancellor Angela Merkel has underlined the focus of Germany’s G-20 presidency agenda.
To strengthen the benefits of interconnectedness and to ensure that more people reap its benefits should be the common goal. Pan-global development can only succeed if all continents share in such development. For Africa, this means the continent has to make progress on its development pathway.
Africa is still home to many of the world’s fastest-growing economies. However, unless these countries find ways of financing economic infrastructure, they will not be able to make full use of their potential.
Germany has made the partnership with Africa a priority of its presidency. In June, key G-20 and African decision-makers came together in Berlin to increase investment in African countries, help boost jobs and provide prospects for the continent’s young generation.
A central pillar of this effort is the Compact with Africa, which provides a framework for supporting private investment, including in infrastructure.
Germany has proposed that, with the G-20’s political backing, African governments, international organisations and bilateral partners prepare comprehensive, country-specific investment compacts to boost private-sector investment. The main aim is to lower the level of risk for private investments by improving economic and financial conditions and strengthening institutions.
Over time, the resulting increase in investment is set to boost growth and productivity, create jobs and raise living standards, as envisioned in the AU’s Agenda 2063 programme.
Germany views the Compact with Africa as a long-term process. It is open to all African countries that are interested in sustainably improving their investment environment. Only if the African countries "own" the initiative will it be a success.
G-20 member SA has shown how private investments can be attracted if the right conditions are in place. Through its renewable energy independent power producers programme, SA has attracted more than R200bn over the past few years, stimulating economic growth and employment in line with its vision of a "green economy". About a quarter of this capital has come from international investors. Germany has supported this effort though public and private investments.
But what works well in SA still needs to take root in other parts of Africa.
Germany and SA are natural partners in helping others on this path. The two countries share the same goals. They both know the benefits of free trade, and regional integration. They know they benefit from stability in their neighbourhoods. They know one of the factors determining a country’s long-term stability is sustained and inclusive economic growth.
To promote such growth in Africa, the German government is pursuing a comprehensive strategy. Supporting regional efforts for more peace and stability on the continent is a crucial part of the partnership.
Germany aims to help strengthen democratic institutions, supporting projects ranging from security sector reforms, migration management and mediation to the promotion of the rule of law.
It knows sustainable growth also requires innovation. That is why German scientists are co-operating with partners from more than 35 African countries in more than 500 research and education establishments.
The G-20 has to ensure globalisation benefits everyone.
Ensuring stability, improving viability for the future and accepting responsibility are the key pillars of Germany’s G-20 agenda, which will shape the discussions at the Hamburg summit. The key to building a better common future lies in co-operation – even when the going gets tough.
• Streicher is charge d’affaires at the embassy of the Federal Republic of Germany in Pretoria.
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