Which contribution of the European aid to the emergence of the private sector in Africa?
Against the backdrop of the Covid-19 pandemic, which has slowed down African growth, the continent is now looking towards revival. This revival will involve supporting and boosting the private sector which is the continent’s main generator of jobs and a real driving force behind sustainable growth in Africa.
In order to unleash its full potential, the continent must address a certain number of challenges that hinder the development of its businesses: access to financing, implementation of guarantee mechanisms, improvement of the business climate, support and training of entrepreneurs, creation of ecosystems of female entrepreneurs, etc.
All these areas offer a privileged field for bilateral cooperation between Africa and Europe which is one of the main contributors to the African private sector. The European Development Finance Institutions (EDFI) are planning to launch a plan to support African micro, small and medium-sized enterprises to the tune of at least 4 billion dollars by the end of 2021.
This year, marked by an unprecedented global crisis, prompts us to question and rethink the mechanisms of this European aid to the emergence of the African private sector as well as the monitoring tools available to donors to meet the needs of the continent.