On Monday, the German government made a significant commitment, pledging to invest 4 billion euros (approximately $4.37 billion) in green energy projects across Africa by the year 2030.
This announcement was made during a news conference held during the G20 Compact with Africa summit in Berlin. While specific projects were not detailed, German Chancellor Scholz emphasized the importance of processing the materials used in green energy within the African nations where they originate.
Scholz highlighted that this approach generates employment and prosperity within these countries and ensures a reliable supply chain for the German industry.
The Compact with Africa initiative, originally launched by Germany during its G20 chairmanship, focuses on enhancing the economic conditions of participating countries to make them more appealing for foreign private investment.
Scholz expressed Germany’s commitment to establishing enduring and dependable partnerships with African nations.Africa stands as our preferred partner in deepening economic ties and embarking on a journey towards a sustainable, climate-neutral future,” he emphasized.
The group of Compact with Africa countries comprises Egypt, Ethiopia, Benin, Burkina Faso, Ivory Coast, Ghana, Guinea, the Democratic Republic of Congo, Morocco, Rwanda, Senegal, Togo, and Tunisia, as reported by the German news agency, dpa.
Responding to inquiries about China’s significant presence in Africa, various African leaders expressed openness to forging alternative alliances.
“Perhaps China displayed greater audacity, a broader vision, and a deeper trust in Africa,” remarked Moussa Faki, the chairperson of the African Union Commission.
He went on to say, “The African continent welcomes diverse partnerships. Our desire is for you to place your trust in us, reduce the imposition of conditions, and work together to create favorable conditions.”
Faki emphasized, “Enhancing governance is our responsibility, and with this shared vision, I am confident it can attract significant capital for investment in the continent.”