Germany has announced that it will provide 4-billion Euros towards investment in Africa up to 2030.
Germany Chancellor OLAF SCHOLZ says the financial commitment is expected to support Compact With African countries in counseling and promotion of private investment synergies to achieve sustainable environment for attracting trade and investment.
Mr. SCHOLZ announced the financial commitment during the official opening of the 5th Compact With Africa -CWA- Conference in Berlin Germany where President HAKAINDE HICHILEMA is among Heads of State and Government attending the high level meeting.
He also pledged Germany’s continued partnership through the CWA with member African countries.
Mr. SCHOLZ also announced that the Democratic Republic of Congo has officially joined the G20 CWA and expressed hope that Zambia, Angola and other African countries present at the conference officially join.
President HICHILEMA is attending the Conference at the invitation of Mr. SHOLZ, making it Zambia’s inaugural presence at the CWA high level meeting since inception in 2017.
And Sub-Saharan Africa Initiative of Germany Business -ASAFRI- Chairman THOMAS SCHAEFER noted the need for political will for African countries to improve trade and investment.
Mr. SCHAEFER said the German business community is keen on helping Africa achieve economic development that goes hand in hand with social development.
President HICHILEMA is due to participate in an active discussion on investment at the Conference.