The third G20 Compact with Africa (CwA) peer-learning workshop was successfully held on the sidelines of the 3rd German-Africa Business Summit in Accra, Ghana from 11 to 13 February.
The main objective of the CwA peer-learning event was to “take stock of how country teams have been working”, said Dr. Edward Brown, senior director of policy engagement at the African Center for Economic Transformation (ACET). The G20 Compact with Africa (CwA) initiative was started in 2017 to promote private sector-led development and improve the investment environment in Africa.
This third peer-learning event was jointly hosted by ACET and the G20 Africa Advisory Group co-chairs. The event provided a platform for CwA countries to learn from the good practice of other Compact countries. According to ACET director and senior advisor Rob Floyd, this was the “first time Compact country teams have come together to talk about how the Compact works at the country level”.
The event brought together leaders of development finance institutions focused on Africa, including the African Development Bank, the International Finance Cooperation (IFC) and the World Bank. Development partners such as Germany, Canada, the Netherlands and Mexico were also represented by their ambassadors to Ghana and other Compact countries.
The CwA was initiated under Germany’s G20 Presidency to promote private investment in Africa, including in infrastructure. In line with this, the peer-learning event hosted a number of private sector players as well as state institutions promoting the role of private investment including the Ghana Investment Promotion Centre, Germany’s Federal Ministry of Economic Cooperation and Development, the UK’s Department for International Development and Germany’s KfW Development Bank.