May 19, 2020

Gaddafi death - what's next for Africa?

African Business Review
Africa news
african union libya
gaddafi
Bizclik Editor
2 min
Gaddafi death - what's next for Africa?

Libya officials are said to be planning a secret burial for their leader Muammar Gaddafi, who was captured and shot yesterday.

Officials said the dictator was captured by rebel gangs and loaded on to a vehicle in his birthplace, Sirte. He was reportedly shot in crossfire between rebels and supporters and died on his way to hospital of gunshot wounds to the head.

There is speculation over whether the 69-year-old will be buried at sea like Osama Bin Laden to stop any potential grave being turned into a shrine for the former ruler who reigned for 42 years.

Jubilatory scenes in Libya carried on late into the night as citizens celebrated Gaddafi’s death, while there are hopes for a democratic election within the next two years.

 

Read more from the WDM content network:

Attracting and keeping online shoppers in Africa

Africa's highest paid sports stars

Setting the standard for corporate sponsorship

Technology giant Siemens re-organises to excel in African industry sector

 

To read the latest issue of African Business Review, click here

 

But Gaddafi’s financial influence in Africa, exercised through the African Union of which he had a major role in its formation, may feel the negative impact of his death.

Kathryn Sturman, an AU expert with the South African Institute for International Affairs told the BBC that Colonel Gaddafi's death will initially have a detrimental effect on the AU’s finances.

"It's the end of an era for the AU. Libya was one of the big five (along with South Africa, Nigeria, Egypt and Algeria) financial contributors of the organisation. It paid 15 percent of its budget, and also the membership fees of countries in arrears, like Malawi," Sturman said.

"The new government in Libya is not goingto be well disposed to the AU (which opposed the Nato-led intervention in Libya)."

African Business Review is now available on the iPad. Click here to download it.

Share article

Jun 11, 2021

G7 Summit guide: What it is and what leaders hope to achieve

G7
Sustainability
G7Summit
EU
3 min
Business Chief delves into what the G7 is and represents and what its 2021 summit hopes to achieve, in terms of sustainability and global trade

Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration. 

 

Who are the G7?

The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like. 

The merry band comprises:

  • Canada
  • France
  • Germany
  • Italy
  • Japan
  • The United Kingdom
  • The United States

Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.

 

Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda. 

 

When was the ‘G’ formed?

Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s. 

 

Why does the G7 exist?

At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted. 

 

The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability. 

 

It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations. 

 

Where is the 2021 G7 summit?

This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall. 
 

What will be discussed this year? 

After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”

 

The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values. 

 

According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.” 

 

Share article