German Chancellor, Angela Merkel, has urged the private sector to take advantage of Africa’s economic potential and invest in the continent.
Speaking at the German-Africa summit in Berlin, she said areas such as Africa’s renewable energy is a viable venture that businesses can consider investing in.
“Africa has so much market potential, but we need to make better use of it,” Merkel said at the conference.
Expansion of renewable energy investment “is of enormous importance for us to achieve our global climate goals,” the German chancellor added.
The Berlin summit brought together leaders of 12 African nations that are part of the Compact with Africa initiative, some of whom tuned in virtually.
At the meeting, Chancellor Merkel promoted economic cooperation with Africa and stressed the importance of containing the spread of Covid on the continent.
She said during her trips to Africa she realized that it is a “continent of opportunities and ideas” and a “continent with promising growth markets and with many, many committed young people.”
The leaders also talked about the Covid-19 situation in Africa.
Merkel said keeping the health emergency under control was essential for economic recovery, and that it would require an increase in global vaccine production and a “fair distribution of vaccines.”
She also called on boosting Africa’s vaccine production. Her statements follow those made by Stefan Liebing, the head of the Africa Association of German Business, who also called on the German government to help African countries with vaccine supplies.
“We should work bilaterally and give more vaccines to Africa,” Liebing was quoted as saying by Redaktionsnetzwerk Deutschland (RND).
German vaccine maker BioNTech said this week that it is seeking to establish an mRNA vaccine production facility in Africa.
The company said it is working with partners to “evaluate how to establish sustainable mRNA manufacturing capabilities on the African continent to supply African countries with vaccines.”
Moussa Faki, the head of the African Union Commission, has praised Merkel for the initiative, saying the outgoing chancellor succeeded in giving “an important impetus to Germany’s presence in Africa.”
By Jamila Akweley Okertchiri