ABSTRACT
This chapter explores what reforms are required within the system of multilateral institutions in order to enable them to redefine the circumstances and efforts to support African countries in their transformation agendas. It looks beyond the myth that multilateralism can solve the problems thrown up by globalisation. The environment in which African countries are seeking their transformation has always been rapidly changing. African leaders accept that several actions must be taken to shape globalisation so as to ensure fair economic distribution, adequate social conditions, and appropriate environmental management. While the history of multilateralism has been largely punctuated by disappointment for Africa, there is no doubt that global partnerships can provide the impetus for tackling the key socio-economic development challenges facing the continent. The rise of the Global South as a major source of foreign investment in Africa has altered the direction of financial flows and the nature of development cooperation.
