President Lourenço,
Chairperson Youssouf,
Distinguished guests,
It is a privilege to open this Africa–Europe Summit with the Business Forum, a gathering that represents the heartbeat of our partnership. Businesses are not only drivers of trade, investment, and economic activity—they are engines of opportunity. They create livelihoods, transfer skills and knowledge across borders, and build the foundations of the jobs and industries of the future. Today’s forum is therefore about strengthening the ties that connect our companies, our economies, and ultimately our people.
Since our last Summit in 2022, the global landscape has become more turbulent. Yet despite the challenges, the relationship between Africa and Europe has continued to deepen. Europe remains Africa’s largest trading partner, accounting for one-third of the continent’s total trade. In 2023 alone, European investment in Africa reached EUR 240 billion, confirming our role as the continent’s top investor. But we believe that together, we can achieve far more.
Africa holds immense potential to shape the global economy in the decades ahead. The continent possesses 60% of the world’s most productive solar resources at a time when global demand for clean, low-carbon energy is rapidly accelerating. Africa also has around 30% of global mineral reserves—resources vital to the green and digital industries of tomorrow. The opportunities are tremendous, but unlocking them requires purposeful investment: investment that retains value locally, supports industrial growth, strengthens regional supply chains, and creates sustainable jobs. This is the type of partnership Europe is committed to—one built on equality and shared benefit.
At the centre of this vision is Global Gateway. When the initiative launched, we committed to investing EUR 150 billion in Africa by 2027. Today, I am pleased to say we have already mobilised more than EUR 120 billion, placing us firmly on track. Global Gateway’s power lies not only in public financing but in the ability of governments, development banks, and private companies from both continents to work toward common goals. That is why we are expanding opportunities for private-sector involvement.
Just this October, we launched the Global Gateway Investment Hub, a platform that allows companies to present project ideas, access support, and collaborate directly in implementation. Many of you asked for earlier involvement in the process, and we heard you. This Hub is an answer to that call.
Ladies and Gentlemen,
Today I want to highlight three additional ways we are making it easier for businesses to invest, operate, and grow across Africa.
First: improving access to finance.
Africa has the resources it needs for rapid growth—a young, dynamic population and abundant natural capital. What is often missing is affordable financing for infrastructure, innovation, and job creation. Through Global Gateway, we are helping de-risk investments, provide guarantees, and reduce financial barriers for projects in markets that might otherwise be overlooked.
Take digital connectivity as an example. Only about 10% of Africans currently have access to reliable high-speed internet, and even where it exists, it is often too costly. Yet wider digital access triggers positive ripple effects: faster business growth, improved public revenues, better services, and higher investor confidence. This is why Global Gateway is prioritising private investment in digital infrastructure. We are extending new data cables to East and West Africa and deploying the MEDUSA system linking Europe and North Africa. These investments create value across both continents.
Second: empowering entrepreneurs.
Africa is one of the most entrepreneurial regions in the world, full of creativity, innovation, and ambition. But many startups struggle to grow beyond their early years due to limited access to infrastructure, markets, and financing. As one female entrepreneur in South Africa expressed, the barriers are rooted in a lack of access—not in the absence of talent.
With Global Gateway, we are working to close these gaps by providing seed funding, mentorship, training programmes, and connections to local and regional value chains. When young, high-potential businesses have the tools to scale, they generate high-quality jobs, attract investment, and accelerate innovation.
Third: supporting regional integration.
For a startup to become a scale-up, it needs space to grow. It needs new customers, diverse supply chains, access to skilled talent, and entry into neighbouring markets. When borders create barriers, growth is stifled and innovation stalls. But when companies can expand across regions, integration becomes a powerful engine of prosperity.
Europe knows this from its own experience with the Single Market. We have seen local firms expand internationally, supply chains become more efficient, and industries gain global competitiveness. That is why the European Union has supported the African Continental Free Trade Area (AfCFTA) from the very beginning. The African Development Bank estimates that a fully implemented AfCFTA could increase Africa’s income by USD 450 billion. That represents immense opportunities—not only for Africa, but for global markets as well.
Distinguished guests,
These are just some of the steps we are taking together to strengthen economic cooperation. But to move even further, we need continued engagement from you—the innovators, investors, and industry leaders shaping Africa’s and Europe’s economic futures. We want to understand the challenges you face, the sectors you see potential in, and the opportunities you believe we can unlock together.
Let us turn shared ambition into concrete action.
Thank you, and I wish you a productive and inspiring Forum.
