Djibouti Ambassador for Ethiopia and Rwanda


His Excellency

Mohamed Idriss Farah

Permanent Representative

to AU and CEA

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Africa - Europe : Africa now a priority over Asia

01/11/2018
00:00

At the end of the conference "Compact with Africa", German Chancellor Angela Merkel announced Tuesday the creation of a fund of one billion euros. This structure is intended to encourage investment by European small and medium-sized enterprises (SMEs) in Africa. "Together, we want to send today a clear signal: the desire to have a good and profitable neighborhood between Africa and Europe," said the Chancellor, at the Berlin summit on private investment in Africa, called Compact with Africa.

In practice, this new fund will be used to grant loans and equity to European and German SMEs wishing to invest in Africa and equity for African SMEs. In parallel, a network offering advice to potential investors will be created, in particular to help German companies on site.

"For many years, we have been very focused on Asia, I think that in the future the eye should focus more on Africa," said the German Chancellor during this initiative created during the presidency. last year, which involves twelve African countries. And Merkel believes that the African continent with its 54 countries has "enormous growth potential." What to understand that the Chancellor makes the development of Africa one of the main priorities of its mandate and multiplies in recent months the displacement on the spot.
In this way, Angela Merkel also aims at another goal: to reduce the flow of migrants from the African continent to Europe. "We Europeans have a strong interest in African countries having good economic prospects. And for that, we need public as well as private investments, "added the Chancellor.

The conference is sponsored by the German industrial giants Siemens and Volkswagen. As part of the Compact with Africa program, Ghana, Tunisia and Côte d'Ivoire have already received 365 million euros of financial support mainly in the form of subsidized loans.

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EMBASSY AND CONSULATE
IN ADDIS-ABEBA

B.P : 1022
Tél : 00 251 - 116 - 613200
Fax : 00 251 - 116 - 612786
Adresse mail :
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