The committee met to study Canada’s Africa strategy, hearing from H.E. Ben Marc Diendéré, Ambassador and Special Envoy for Africa; Ryan Clark and Susan Steffen, directors general from the Department of Foreign Affairs, Trade and Development; and Lori Kerr, CEO of FinDev Canada.
Ambassador Diendéré said his role has raised Canada’s profile at the African Union and opened doors for trade missions in sectors like energy, mining and agriculture, but he stressed Canada needs more resources and interdepartmental coordination to help Canadian companies compete on the continent, where many other nations are already active. He argued that Africa now expects investment rather than aid, and recommended focusing on priority countries and creating “champions” on the ground, while acknowledging that Canada cannot replace U.S. assistance but can be creative with blended finance.
Ryan Clark explained that most Canadian aid in Africa has gone to social programs, with limited risk of displacing private investment, and that the strategy aims to use more blended finance to mobilize private capital, for example through sovereign loans in South Africa to support energy transition. He noted that international assistance can help improve governance around critical minerals to reduce barriers for Canadian mining companies.
Susan Steffen added that progress on opening new diplomatic posts in Zambia and Benin is under way, and that the department will measure the strategy’s results through its departmental performance reports.
Lori Kerr said FinDev Canada has invested over $1 billion in sub-Saharan Africa, focusing on financial industry, agribusiness and sustainable infrastructure, and that it uses blended finance to de-risk private investment, citing a $75-million Canadian investment that helped leverage a $1.5-billion climate adaptation fund. She noted FinDev does not crowd out private capital, follows strict environmental and social standards including on child labour, and that its francophone African portfolio is about 7% due to the opportunity set, not a lack of French-speaking staff.
The committee then debated a motion to study clauses 460 to 462 of Bill C-15, with one member questioning why only division 27 was included and not division 18; the mover said she would find an answer.
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