Harare, (New Ziana) — Governments and institutions from Africa and Europe have been urged to deepen cooperation, strengthen policy predictability, and accelerate value chain integration to unlock sustainable economic growth.
Leaders of the private sectors from the two continents made the call in a communique on Monday through a Joint Business Declaration issued at the African Union-European Union Business Forum (AEBF2025) in Luanda, Angola ahead of the seventh AU-EU Heads of State Summit taking place on Tuesday.
The summit marks 25 years of AU-EU partnership and coincides with Angola’s 50th independence anniversary, being held under the theme “Promoting peace and prosperity through effective multilateralism.”
“Business support organisation leaders from Africa and Europe have issued a call for stronger partnerships, enhanced predictability in the business environment, and deeper value chain integration to realise sustainable economic growth across both continents.
“The Joint Business Declaration, announced on 24 November at the AU-EU Business Forum (AEBF2025) in Luanda, Angola, is presented on the occasion of the seventh Heads of States AU-EU Summit taking place on 25 November,” read the communique.
The high-level gathering is co-chaired by Angolan President João Lourenço and European Council President António Costa with the European Commission represented by its president, Ursula von der Leyen, while Mahmoud Ali Youssouf, chair of the African Union Commission, leads the AU delegation.
The business organisations emphasised that increased predictability, coordinated investment, and active private sector participation are essential to fully harness continental opportunities.
Since 2021, nearly €80 billion has been mobilised under the Africa-Europe Investment Package, supporting renewable energy, health, agribusiness, transport, research, education and digital infrastructure.
Dr Amany Asfour, co-chair of the Business Declaration Committee and president of the Africa Business Council, said the partnership should now prioritise shared value creation.
“We need equal win-win partnerships that empower our African private sector, including SMEs, women and youth, and focus on investment geared towards value addition, job creation and the sharing of know-how,” she said.
The declaration also underscores the importance of aligning with the EU’s Global Gateway strategy and the African Union’s Agenda 2063, noting that Africa’s industrialisation and local processing of raw materials should be central to future cooperation.
Benoît Chervalier, president of the Africa Committee of Business Europe and co-chair of the committee, said stronger integration between companies across both regions would assist in boosting competitiveness.
“This process should be undertaken in a pragmatic, flexible and agile manner which would help to integrate African and European businesses into regional and global value chains,” he noted.
The business leaders called for structured, transparent and inclusive mechanisms enabling companies, large and small, to co-design, co-finance and co-implement trade and investment initiatives tied to the African Continental Free Trade Area (AfCFTA).
Central to the proposal is improved access to finance as the declaration urges the establishment of a unified and simplified system, particularly for small and medium enterprises (SMEs), to access EU financial instruments including guarantees, blended finance, reimbursable grants, venture capital and other investment tools under the Global Gateway Investment Hub.
Participants also stressed the need for joint efforts to enhance the business environment, build human capital, expand sustainable infrastructure and digital connectivity, and strengthen political and financial risk-mitigation systems.
Both continents agree that investment should deliver long-term development dividends, local value creation, stronger industries, and decent employment, if the AU-EU partnership is to remain credible and transformative.
The Joint Business Declaration will be formally submitted to heads of state during the summit, where leaders are expected to outline next steps in reshaping economic cooperation between Africa and Europe.
New Ziana
