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EU–Africa Summit: Leaders Pledge €150 Billion Investment Package by 2027

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Luanda, Angola – African and European leaders gathered in Luanda for the 7th European Union–African Union Summit, where the European Commission reaffirmed its long-term commitment to strengthening political and economic ties with Africa. The meeting was marked by a renewed focus on investment, energy sustainability, and cooperation in an increasingly unstable global environment.

By Tina Musonza

European Commission President Ursula von der Leyen opened the Summit with a call for deeper collaboration between the two continents, noting that rising global trade barriers and geopolitical tensions demand coordinated responses.
“In this new reality, Africa and Europe are called to answer the very same questions,” she said. “We must work together to create local jobs and diversify our economies.”

At the heart of the Summit was the EU’s flagship Global Gateway initiative, which aims to mobilise €150 billion for Africa by 2027. Von der Leyen announced that more than €120 billion has already been committed toward the target.
“We are well on track. At a time when other major investors are rethinking their global engagement, Europe’s commitment to Africa is here to stay,” she said.

Energy investment emerged as a central theme, with leaders highlighting the continent’s vast renewable potential contrasted with limited global investment. Despite global clean energy spending reaching $2 trillion last year, Africa received only 2% of that financing.
“Every person should have access to clean energy; every continent should enjoy cheap energy,” von der Leyen said, urging greater international support for renewable projects.

The Summit also reinforced Europe’s position as Africa’s largest trading partner, accounting for one-third of the continent’s trade volume. Key initiatives discussed included progress on the Lobito Corridor and continued support for the African Continental Free Trade Area (AfCFTA), both seen as critical to boosting regional trade and local value chains.

Closing her address, von der Leyen stressed the importance of unity:
“The case for Africa and Europe to join forces is overwhelming. Let us find new ways of doing so. Let us walk this path together.”

EU Council President António Costa echoed this sentiment, framing 2025 — which marks both 25 years of EU–AU partnership and the 50th anniversary of Angola’s independence — as a year of strategic opportunity.
“As we stand shoulder to shoulder, we draw on the valuable lessons of our shared history, with renewed ambitions focused firmly on the future,” he said.

Costa highlighted shared challenges, including climate change, digital transformation, and irregular migration, insisting that only multipolar cooperation can provide sustainable solutions.
“In our partnership, Africa’s greatest asset is its youth,” he said. “With Europe’s experience, technology, and investment, we can turn today’s challenges into tomorrow’s opportunities.”

He pointed to significant progress under the Global Gateway Africa–Europe Investment Package, noting that renewable energy projects alone have mobilised €15.5 billion through the “Scaling Up Renewables for Africa” campaign.
“We are powering Africa’s clean energy future,” Costa said.

On peace and security, he reaffirmed the EU’s support for African-led responses, highlighting more than €1 billion provided through the European Peace Facility. Education and knowledge-exchange programmes remain central to the partnership, with Costa emphasising that, “Together, we are building new bridges.”

The commitments made in Luanda mark a decisive moment for EU–Africa relations. With substantial investment pledged and flagship projects already underway, leaders expressed confidence that the partnership is positioned to reshape economic and developmental trajectories on both continents — anchoring shared prosperity in an increasingly interconnected world.

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