Wired Africa

Compact with Africa: Germany is willing to boost investments in the continent

The German initiative to mobilize the G20 in favor of Africa, the Compact with Africa program is the very illustration of German pragmatism. Beyond helping to intensify investment to create direct jobs in Africa, it is one of the elements of Germany’s strategy to limit the temptation for young Africans to emigrate.

Compact with Africa is open to all African countries that aim to mobilize international funding for development programs on the continent. To date, 10 African countries have joined: Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Rwanda, Senegal, Togo, and Tunisia.

© AXEL SCHMIDT / POOL / AFP

So it was the presidents of these countries who arrived in Berlin on Monday to take stock and see where we stand with the establishment in African countries of a framework conducive to business and financial sector development, all in partnership with the IMF, the World Bank, and the African Development Bank. Two types of meetings are on the agenda: the first one on institutional exchanges chaired by Angela Merkel, a second, more business oriented, one on exchanges with the leaders of German companies that are members of the Afrika-Verein association, such as Volkswagen, Siemens or Commerzbank.

Picture Source: RFI

Amine Benkeroum

A 26 yo geek from Morocco, who loves innovation, startups, new technologies and meet smart people to improve my skills and build new technologies.

Web developer, with +2 years experience in web development for big European companies, founder of Wired.Africa.

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