German Chancellor Olaf Scholz, right, welcomes Akinwunmi Adesina, President of the African Development Bank, at the G20 Investment Summit – German Business and CWA countries on the sidelines of a compact with Africa in Berlin, Germany, Monday, Nov. 20, 2023. -level conference investment summit where high-ranking representatives of German companies from African Compact partner countries meet to explore investments within the framework of the G20 partnership with Africa. Marcus Schreiber/APGerman Chancellor Olaf Scholz, center, and European Commission President Ursula von der Leyen, front second left, arrive at the G20 Investment Summit – German Business and CWA Countries on the sidelines of a compact with Africa in Berlin, Germany, on Monday, Nov. 20, 2023. African Compact partner countries at the high-level investment summit meet high-ranking representatives of German companies to explore investments within the framework of the G20 partnership with Africa. Marcus Schreiber/AP
German Chancellor Olaf Scholz, second right, and French President Emmanuel Macron, right, arrive at the G20 Investment Summit – German Business and CWA countries on the sidelines of a compact with Africa in Berlin, Germany, Monday, Nov. 20, 2023. High-level summit investment summit sees high-ranking representatives of German companies from African Compact partner countries meet to explore investments within the framework of the G20 partnership with Africa. Marcus Schreiber/AP
German Chancellor Olaf Scholz, second right, and French President Emmanuel Macron, right, arrive at the G20 Investment Summit – German Business and CWA countries on the sidelines of a compact with Africa in Berlin, Germany, Monday, Nov. 20, 2023. High-level summit investment summit sees high-ranking representatives of German companies from African Compact partner countries meet to explore investments within the framework of the G20 partnership with Africa. Marcus Schreiber/AP
Overview of the G20 Investment Summit – German Business and CWA countries on the sidelines of a Compact with Africa on Monday, November 20, 2023 in Berlin, Germany. At the high-level conference Investment Summit African Compact partner countries meet with high-ranking representatives of German companies to explore investments within the framework of the G20 partnership with Africa. Marcus Schreiber/AP
German Chancellor Olaf Scholz, front, and French President Emmanuel Macron, front right, arrive at the G20 Investment Summit – German Business and CWA Countries on the sidelines of a compact with Africa in Berlin, Germany, Monday, Nov. 20, 2023. High-level summit investment summit sees high-ranking representatives of German companies from African Compact partner countries meet to explore investments within the framework of the G20 partnership with Africa. Marcus Schreiber/AP
BERLIN (AP) — The German government on Monday pledged to invest 4 billion euros ($4.37 billion) in African green energy projects by 2030, with Chancellor Olaf Scholz saying Africa’s countries will benefit more from their wealth of raw materials. Should be picked up.
Scholz discussed the pledge at a press conference at the G20 Compact with Africa summit taking place in Berlin. He did not mention any specific projects but said materials used in green energy should be processed in the African countries where they come from.
“This creates jobs and prosperity in these countries,” Scholz said. “And German industry finds reliable suppliers.”
The Compact with Africa is based on an initiative launched by Germany during its presidency of the Group of 20 leading rich and developing countries. Its objective is to improve economic conditions in the participating countries to make them more attractive for foreign private investment.
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Scholz said Germany should become a long-term and reliable partner of African countries.
“Africa is our partner of choice when it comes to deepening our economic ties and moving towards a climate-neutral future together,” he said.
According to German news agency dpa, the Compact with Africa countries include Egypt, Ethiopia, Benin, Burkina Faso, Ivory Coast, Ghana, Guinea, Democratic Republic of Congo, Morocco, Rwanda, Senegal, Togo and Tunisia.
Asked about China’s strong presence in Africa, several African leaders said the continent is open to other partnerships.
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“Maybe China was bolder, maybe they had more foresight and maybe they trusted the potential in Africa,” said Moussa Faki, chair of the African Union Commission.
“The African continent is open to various partnerships,” he said. “Our wish is that you trust us, impose fewer conditions and create conditions together. ,
“It is our responsibility to improve governance, and so this shared approach, I am sure of it, can allow a greater capital that can be invested in the continent,” Faki said.
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Source: www.bing.com
