By GRACE CHAILE
THE European Union (EU) is set to invest €150 billion in large-scale projects across Africa as part of its Global Gateway strategy.
This initiative aims to boost the continent’s green and digital transformation.
Henrik Hololei, Hors Classe Adviser to the European Commission, stated that the Global Gateway strategy represents the EU’s commitment to accelerating partner countries’ green and digital transitions while bridging the global investment gap.
Mr Hololei explained that the strategy encompasses sustainable projects in digital infrastructure, transport, energy, and climate sectors.
He added that the strategy also emphasised strengthening education, research, and health systems in collaboration with partner nations.
Global Gateway highlighted a distinctly European model of partnership, focusing on mutual respect and cooperation to achieve shared objectives with international partners like Zambia and Zimbabwe.
Mr Hololei said EU, through team Europe, plans to mobilise up to €150 billion, demonstrating a dedicated effort to support Africa’s development.
He said this included financing key projects such as the €113 million grant for the rehabilitation of the Kariba Dam.
Expanding investments, the EU is involved in projects like the Lobito Corridor, designed to connect Zambia to Angola’s Port of Lobito. This corridor aimed to be a modern, efficient, and sustainable infrastructure model for Africa.
He said the Lobito Corridor had the potential to enhance various sectors including agriculture, energy, and digital services, while creating job opportunities and stimulating economic growth.
Mr Hololei stressed that EU’s Global Gateway strategy underscored a commitment to building resilient and sustainable infrastructure through effective partnerships,by working together, significant progress would be achieved in Africa’s development.
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