According to the Population Reference Bureau, Africa’s population will more than double by 2050, from 1.2 billion people to 2.5 billion. Africa already suffers from food, energy and job shortages, and its current population makes up about 17 percent of the world’s population. However, with this current growth, its population would balloon to an estimated 20 percent. As a result, Europe realizes that African development is going to have a large impact on the 21st century and that action is necessary. This action includes the Marshall Plan to mobilize African development.
Although Africa struggles with the aforementioned shortages, it withholds 15 percent of global oil reserves. In addition, 40 percent of gold reserves and 80 percent of platinum reserves are located there. The largest expanse of agricultural land in the world is also in Africa. Based on this, Germany is spearheading the Marshall Plan initiative to mobilize African development and promote private investment on the continent. This is part of the G20 (EU in conjunction with 19 other countries). Africa currently relies on donors and other countries for support, but this new initiative will help Africa become more self-sufficient.
With the predicted population explosion, Africa must create more jobs and opportunities. To do so, the G20 needs private investment to make Africa appealing to potential investors. Other changes that will support this initiative include protecting human rights, strengthening the economy and implementing good governance. Through this, the G20 also needs to address and solve problems in Africa. These problematic elements consist of trade, arms sales to crisis areas and illicit financial flows. This will require strong international cooperation and partnerships between developed and developing countries.
The Marshall Plan includes ensuring food and water security, bolstering infrastructure, embracing digitalization, increasing access to energy, health care and education in Africa. To accomplish this, the G20 also plans to give Africa a seat on the U.N. Security Council. This will provide the country with heightened authority in international organizations and negotiations.
G20 Partnership Pillars
Partnership pillars that the Marshall Plan is prioritizing are promoting private investment, developing infrastructure and improving economic growth. Analyzing pre-existing initiatives will promote private investment. Promotion will also include tailoring country-specific measures to improve the framework, involving business and financing. Africa will develop infrastructure by expanding on pre-existing initiatives and sharing any knowledge on infrastructure investment and how to manage it and natural resources. Finally, the creation of an initiative to promote employment via skills development and training (Initiative for Rural Youth Employment) will improve economic growth.
Related initiatives include AU’s Agenda 2063, the Addis Tax Initiative, the Programme for Infrastructure Development in Africa (PIDA), the Sustainability, Security and Stability in Africa Initiative and the EU’s European External Investment Plan (EIP). For the Marshall Plan to succeed, it must fit in with the other initiatives and fill in gaps to promote change in Africa. Supporting organizations of the Marshall Plan include the African Union, the EU and the NEPAD Agency.
As of 2018, the cabinet has already passed the Marshall Plan to mobilize African development; however, it has not taken any further action yet. Experts worry that the plan could become obsolete if people have unrealistic expectations of what it will cover. A common misconception is that the plan will automatically secure peace and create jobs and growth for Africa. It is working towards that, but there is no guarantee. If action follows soon and private investment grows, Africa will be well on its way to self-sustainability.
– Nyssa Jordan