The European Commission wants a free trade deal with Africa. As Africa’s population is set to double by 2050, the EU is hoping to turn the demographics to its advantage. Some 60 per cent of the population is under 25. The EU will help finance vocational training for 7,50,000 people over the next two years. The EU is Africa’s biggest investor. Most of it has gone to Egypt, Kenya, Morocco and South Africa.

The aim is to create up to 10 million Africa-based jobs in the next five years. The EU wants to shift from a donor-recipient kind of relationship, a traditional one based on development aid and humanitarian aid, to a partnership based first and foremost on political partnership. The plan is a partnership of equals with African counterparts, which will be increasingly built on private enterprise. The EU is launching an Africa Union alliance for sustainable investments and jobs. This will be a major priority for its work in the years ahead.

Areas like agriculture, renewable energy and transport are priority sectors amid plans to provide electricity for some 30 million people and road access to another 24 million. An external investment platform will be created that will multiply available funds. The funds will be sourced from the EU budget, the European Investment Bank, the European Bank for Reconstruction and Development, member state development banks and the private sector.