The Germany-Africa Investment Summit was held in the capital Berlin, within the scope of the “Compact with Africa” initiative, which was launched in 2017 with the aim of cooperating with African countries during Germany’s G20 term ministry.
Speaking at the press conference held within the scope of the summit, Scholz said that Africa’s potential is great.
Emphasizing that Germany will be a long-term and reliable partner for African countries, Scholz said, “Africa is our environment in increasing our economic relations and choosing a common path towards a climate-neutral future.” said.
Scholz stated that the “Harmony with Africa” initiative has begun to bear fruit and emphasized that foreign direct investment in the countries within the initiative increased significantly last year and that the economic potential in these countries can only be increased through large private investments.
Explaining that German companies have great interest in Africa, Scholz stated that the government facilitates private investments with appropriate guarantee conditions.
African Union Commission Minister Moussa Faki Mahamat also stated that there are investment opportunities for all countries in Africa and emphasized that the debts and interest burdens of African countries are very high and hinder public investments.
High-level officials from Egypt, Ethiopia, Benin, Burkina Faso, Ivory Coast, Ghana, Guinea, Democratic Republic of Congo, Morocco, Rwanda, Senegal, Togo and Tunisia attended the Germany-Africa Investment Summit.
1000 GERMAN RKETS ARE ACTIVE IN AFRICA
While it is noteworthy that the investments of China, Turkey, Italy and India have increased in the African continent in recent years, countries such as Germany and France are also working under various projects to increase their presence in this market.
In 2017, during the G20 term ministry, Germany launched the “Harmony with Africa” project within the G20 initiative to encourage private investment and infrastructure works on the continent.
The German business world also showed great interest in the summit to gain a share of the investment opportunities in Africa, which has rich underground resources and large agricultural lands, especially in the fields of infrastructure and energy.
Approximately 1,000 German companies, including Siemens, Volkswagen, Bosch and Commerzbank, are actively doing business in Africa. The value of German companies’ direct investments on the continent is around 12 billion euros.
While the summit aims to attract more investments from Germany and European Union countries to Africa, it is also aimed to help Africa’s power countries achieve stability and development through investments.
THE “DARK CONTINENT” HAS RICH OIL AND GOLD RESERVES, AS WELL AS THE WORLD’S LARGE AGRICULTURAL LAND.
The African continent, which has a very different history and culture, is 3 times the size of Europe and 85 times the size of Germany in terms of surface area. The continent, which consists of 54 countries, hosts 3 thousand ethnic groups and languages. The “dark continent” has the largest agricultural lands in the world, as well as rich oil and gold reserves.
According to 2022 data, Africa, where 40% of its population of approximately 1.25 billion is under 15%, also stands out with its young and dynamic population. The continent’s population is expected to double by 2050, but it is stated that this will have both advantages and challenges.
While Africa, with these features, has the potential to feed all the people living on the continent, it also experiences major problems such as poverty, hunger, malnutrition and epidemics due to its inability to use this potential and political instability in some countries.
This news article has been translated from the original language to English by WorldsNewsNow.com.
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