Africa Commission initiatives showing positive results
A number of the initiatives recommended by the Africa Commission back in 2009 have been instrumental in supporting growth and employment in Africa, according to a new report from the Foreign Ministry.
The African Guarantee Fund has been particularly successful in guaranteeing commercial bankers’ loans to small and medium-sized businesses, while a fund has been successfully developed to support sustainable energy in the African Development Bank.
“In many ways, the Africa Commission was a trailblazer in some of the areas I think should have more focus in aid development,” said the foreign minister, Kristian Jensen.
“The private sector should drive growth and employment, while development funds should be used as a catalyst for that. The commission’s focus on youth was well spotted, and we will use the experiences from its initiatives to focus more on the youth and their potential when we produce a new development strategy.”
A youthful approach
The Africa Commission was launched by the former prime minister, Anders Fogh Rasmussen, in 2008 in order to help Africa benefit more from globalisation.
In 2009, it released its ‘Realising the potential of Africa’s Youth’ report, which included ten policy recommendations and five initiatives geared towards strengthening private sector-led growth and employment while promoting Africa’s participation in globalisation.
In just a few years, the African Guarantee Fund has become active in 35 countries and made it possible for 850 smaller companies to obtain a loan.
The news comes just a couple of months after Akinwumi Adesina, the president of the African Development Bank, visited Copenhagen in early June.