Africa: Will the AU be ready to join the G20?
Indian Prime Minister Narendra Modi on Sunday called for the African Union (AU) to become a member of the G20, the club of the world’s richest countries due to meet in India in September.
«We have invited the African Union with the idea of granting it permanent membership» of the G20, Narendra Modi said at the B20 business forum being held ahead of the G20 summit on 9 and 10 September.
In December, US President Joe Biden had already expressed the wish that the African Union should join the G20 as a permanent member, assuring that «it will happen».
This burning desire to bring the AU into the G20 deserves to be elucidated.
These days, the great powers are jostling for political and economic influence in Africa.
In recent years, Africans have become accustomed to seeing their leaders honoured with invitations to attend a series of Africa-themed summits held around the world, often advertised as win-win partnerships.
Africa is expected to be the second fastest-growing region in the world after Asia in 2023-24, demonstrating the continued resilience of its economy despite multiple global shocks.
But, according to the 2023 edition of the African Development Bank’s report entitled “African Economic Outlook 2023 – Mobilising Private Sector Finance for Climate and Green Growth”, projected growth will depend on global conditions and the continent’s ability to build economic resilience.
The report, launched in May 2023, forecasts that Africa will consolidate its recovery from the impact of the COVID-19 pandemic, with GDP growth of 4.3% in 2024, up from 3.8% in 2022. Some 22 countries will record growth rates in excess of 5%.
The report focuses on Africa’s natural capital to finance the fight against climate change and green growth.
Africa has an abundance of renewable and non-renewable natural resources, write the authors. It has 30% of the world’s mineral resources and 65% of the world’s uncultivated arable land; its forests are the most productive in the world in terms of timber and carbon retention. It is also endowed with a large amount of solar, wind and hydroelectric energy.
Only one African country, South Africa, is currently a member of the G20, which brings together 19 of the world’s largest economies plus the European Union, representing 85% of global GDP and two-thirds of the world’s population.
Based in Addis Ababa, the capital of Ethiopia, the AU has 55 member countries, totalling three trillion dollars in GDP.
Will the AU be ready to join the G20?
Discussions are expected to take place within the institution to examine all the contours of this membership.
Pedro Okalamar
