In an announcement on Monday, German Chancellor Olaf Scholz stated that African nations ought to gain more from their abundance of raw resources, pledging the German government to invest 4 billion euros ($4.37 billion) in green energy projects throughout the continent until 2030.
During a press conference on the G20 Compact with Africa summit that was held in Berlin, Scholz talked about the promise. He stated that the resources used in green energy should be processed in the African countries from which they originate, without mentioning any particular initiatives.
According to Scholz, “This brings prosperity and jobs to these countries.” “And the German industry has access to trustworthy suppliers.”
The effort that started the Compact with Africa was made by Germany when it was the chairman of the Group of 20 major rich and developing countries. It seeks to strengthen the participating nations’ economies to increase their allure to foreign private investment.
According to Scholz, Germany should establish itself as a dependable, long-term partner with African nations.
“We choose to work with Africa to strengthen our economic ties and move towards a future free of climate change,” he declared.
Egypt, Ethiopia, Benin, Burkina Faso, Ivory Coast, Ghana, Guinea, the Democratic Republic of the Congo, Morocco, Rwanda, Senegal, Togo, and Tunisia are among the nations that are part of the Compact with Africa, according to German news agency dpa.
When asked about China’s significant influence in Africa, a number of African leaders responded that their continent was amenable to new alliances.
The head of the African Union Commission, Moussa Faki, stated, “Perhaps China was more audacious; perhaps they have better vision; and perhaps they trusted the potential in Africa.”
He went on, “The African continent is open to different partnerships.” “We want you to put your faith in us, to set fewer demands, and to work with us to create the circumstances.
“I am confident that this shared vision will enable a significant amount of capital to be invested in the continent. Improving governance is our responsibility,” Faki stated.
