AFRICA – EU RELATIONS IMPACT AND CHALLENGES OF AFRICA DEVELOPMENT

ABSTRACT 

In this study we examined EU-Africa Relations, Impact and Challenges of Africa Development. The work looked at the rapids increase of European Union-Africa Friendship with lens examination to find out and ascertains its implications and benefits for Africa development. The research profile answers to some basic questions: If this friendship and association is of major benefits to the Africa continents and the region generally and also to determines if the relationship has attracted more and high volume of Direct Foreign Investment to Africa First has the Economies Partnership between the two blocs contributed to trade advancement, Africa Market improvement and balance of trade among the two associates? We implored the dependency theory as our theoretical framework in analysising facts and figures in the cause of this research work. This theory was used because of its strengths to highlight cooperative abilities and actions between nations and quicken understanding of international frame of inter relationship. This research work is made and only secondary sources of data collections were used. This led to only generation of qualitative and quantitative data involved. At the end of the full analysis of all data and figures available the study proof as follows: One, the Relationship between EU-Africa has leads to the increase in the volumes of trade between the two partners with Africa experiencing higher rates. Two, there is a substantial increase in the rates of Foreign Direct Investment with Africa benefiting most beneficial. The study also proved that Africa continent has enjoyed more economic activities that have added to its economic growth and social development. And so, its advice that Africa should focus and root on this more economic activities with the European Union so that Africa can achieve more on this relationship. By this Africa will able to mobilize more Direct Foreign Investment and fund toward it development the rate of economic activities between her and EU in order to attract more FDI and trade deals. Further, Africa should cultivate, and compete for, foreign direct investment inflows to bridge their domestic saving-investment gap and therefore augment the available funds to finance development process through bilateral investment agreements like their developing countries counterpart in other regions.