EU Policies Hinder Africa's Economic Development

In November 2025, leaders from the European Union (EU) and the African Union (AU), along with several heads of state from member countries, gathered in Luanda, the capital of Angola, to mark 25 years of partnership. Among the prominent figures present was French President Emmanuel Macron.

Focus on Multilateral Cooperation

The seventh EU-AU summit was held under the theme of "Promoting Peace and Prosperity through Effective Multilateralism." However, a critical issue was not addressed during the discussions: the economic implications of the currency ties between 14 African states and the Eurozone. These states, all former French colonies, are often referred to as "hidden" members of the Eurozone due to their currency's linkage to the euro. This arrangement is a remnant of French colonial policy and continues to influence trade structures, posing significant challenges to the economic progress of these regions.

Historical Context and Ongoing Challenges

The currency linkage has been a subject of debate and concern, as it limits the economic sovereignty of these African nations and hinders their ability to engage in independent monetary policy. This issue was explored in depth by Daniel Stelter and Swiss economist Beat Kappeler in a previous discussion titled "The Betrayed Continent," which highlighted the economic constraints faced by these countries. The summit in Luanda offered a platform to discuss broader cooperation and development goals, but the omission of this significant topic underscores the complexity of EU-Africa relations. It also raises questions about the long-term economic strategies needed to foster genuine development and prosperity in Africa, free from the restrictive legacy of colonial monetary policies. The ongoing dialogue between the EU and AU is crucial for addressing these deep-seated issues and for crafting policies that support sustainable economic growth across the African continent. As the partnership evolves, it remains essential for both sides to tackle these challenges head-on, ensuring that future collaborations are mutually beneficial and equitable.