Germany encourages more German investment and trade in Africa

Addis Ababa, December 11, 2022 (FBC) – Attending the 4th German-African Business Summit (GABS) 2022, held at the Sandton Convention Center in Johannesburg, Ambassador Dr. Muktar Kedir seized the opportunity to meet with various government officials and business people and exchange views on mutually beneficial matters.

Speaking at the summit, Robert Habeck, Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action of the Federal Republic of Germany, highlighted that “So far, German investment in Sub-Saharan Africa amounts to less than 1% of all global German Direct investment; in light of this, the German government encourages more German investment and trade on the continent.”

In his statement, Ebrahim Patel, South African Minister of Industry and Trade, emphasized that “Africa requires increased inward investment in productive sectors, particularly manufacturing and infrastructure; support for the transition towards green industrialization; improved market access for goods and services; and these partnerships will also bring great benefit to Germany.”

The two day panel discussions deliberated on key areas of cooperation between the country and the continent on bilateral trade and investment flow, green hydrogen and industrialization, health innovation, science and technology, scientific exchange, technical training, and education.