The German G20 Presidency proposed a "Compact with Africa� (CWA) to get going private investment in Africa with a special focus on infrastructure. The initiative offers �a menu of options� to ostensibly move away from a one-size-fits-all policy but Robert Kappel and Helmut Reisen doubt that the proposed instruments suit the needs of African economies. They offer an in-depth analysis of the CWA�s three sections and propose an alternative approach that puts structural transformation towards reducing inequalities and unemployment on top of the economic policy agenda.