• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Germany advances as major player in Pan-African trade and investment

5 years ago
in Business, highlights, Home, latest News
2 min read
0 0
0
74
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

“Investment and Trade for Africa’s Economic Development” – a public webinar held on Wednesday – targeted opportunities for cross-border collaboration between Africa and Germany; the African Export-Import Bank announced its plans to sign a Memorandum of Understanding with German car manufacturers to establish an automotive industry in Africa.

The Germany-Africa Business Forum (GABF), Africa Oil & Power (www.AfricaOilAndPower.com) and the African Energy Chamber co-hosted the webinar, as part of a GABF cooperation-focused series.

The Germany-Africa Business Forum (GABF) hosted its second installment of its German-African cooperation-focused webinar series on Wednesday, aimed at outlining the opportunities for sustainable FDI between Germany and the African continent.

The panel comprised H.E. Günter Nooke, Africa Envoy to German Chancellor Angela Merkel; NJ Ayuk, Executive Chairman of the African Energy Chamber; and Rene Awambeng, Global Head Client Relationship at the African Export-Import Bank (Afreximbank).

Anchored by the theme of investment and trade for African economic development, the opening keynote was delivered by H.E. Nooke, and outlined four key success factors in driving Africa’s economic development: investment and business climate, transport, energy and technological infrastructure, available workforce, and access to markets.

Digitalization and green energy were advanced as two of the critical sectors for facilitating Africa’s economic and social development. Africa contains a young, tech-savvy population, noted H.E. Nooke, translating to smooth technological adoption and enhanced opportunities for both consumers and businesses.

Highlighting efforts to expand global market reach, H.E. Nooke noted the anticipated benefits of the recently adopted African Continental Free Trade Agreement, signed by 53 African countries and already implemented by 30.

The agreement is set to boost intra-African trade, with the ultimate objective of creating a common market that empowers African nations.

Meanwhile, cross-border developments in clean energy have already been progressing. This month, a German delegation visited the Democratic Republic of Congo to study opportunities related to the Inga III hydroelectric dam project.

Germany is eyeing major opportunities for hydrogen production, a clean fuel alternative, as well as wind, solar and hydropower resources scattered across the continent.

Germany is currently active in a range of investments across the continent. The European leader played a major role in securing a $300 million facility from the United Nations Economic Commission for Africa. The funds are aimed at creating jobs, reviving economies in a post-COVID-19 environment, and encouraging investment reforms to boost FDI.

Furthermore, Afreximbank will imminently announce the signature of a Memorandum of Understanding with German automotive manufacturers, such as Volkswagen, intended to create an African-driven automobile manufacturing strategy.

“We are looking to create a holistic approach to automotive manufacturing,” said Rene Awambeng. “Our goal is to build an entire value chain, with the support of Germany and Europe, in order to be able to design, build and market cars across Africa.”

In a bid to drive investor engagement in a variety of sectors, NJ Ayuk called for a change in the perception of risk associated with investing in Africa.

“We need to create an enabling environment for banks, financial institutions and investors to perceive Africa as a safe and profitable destination,” said Ayuk. “Rwanda paved the way and we have seen outstanding results. We have an obligation to make the change.”

Ayuk also appealed to Europeans nations, such as Germany, to focus on investment rather than aid. Investment enables the creation of synergies and partnerships and places project leaders in a position of accountability. While aid is welcome in periods of crisis, noted Ayuk, it must not be the standard for sustainable, long-term business. 

Awambeng underscored that long-term, affordable financing is available for Africa’s investment opportunities, combined with technical capacities and business support.

“Huge amounts of capital are available across the continent in all forms: equity, bank debt, development financial institutions, sovereign funds, among others. All we are missing are the people to make the transition happen.”

Via: norvanreports
No Result
View All Result

Highlights

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

RMA Demands Public Inquiry into Unibank Collapse, Slams AG’s Decision to Drop Charges

Trending

Features

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe The Ghana Airports Company Limited (GACL) has officially...

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.