The
Germany Africa Business Forum, whose goal is to strengthen investment ties
between Germany and Africa, announced it has, in collaboration with private
partners from the energy industry, launched a multi-million Euro funding
commitment to invest in German energy startups that focus on Africa. The
funding commitment, which pledges funds to German startups with exposure to
African energy projects, will be the first such intra-regional initiative.
A statement from Apo Group on July 25
and made available to OpenLife
stated “Our initial goal is to support
the investment in German companies and to start with funding allocations by the
end of this year”, said Sebastian Wagner, co-founder of the GABF. “Through our
partners, we will immediately get involved in investing in solutions-driven
German startups with pragmatic business models to solve Africa’s energy
challenges through the provision of German technology and innovation”, he
added.
“The future of Africa’s energy industry will depend on technology and
innovation. When German start-ups and Africans work together, we can build
something unique for both our peoples. I applaud the GABF for this
well-thought-out initiative. I believe it is in line with the goals of the G20
Compact with Africa, driven by Germany”, stated NJ Ayuk, a pan-African energy
dealmaker, CEO of Centurion Law Group and Executive Chairman of the African
Energy Chamber, a supporter of the initiative.
Anchored in the private sector, the GABF brings together Africa’s foremost
executives with German companies, investors and innovators with the aim of
driving change.
Founded in 2017 as a “private for privates”, the GABF encourages German investors to consider the African continent as a profitable and important investment destination. Through a series of initiatives, the GABF draws together African business and political leaders with Germany’s preeminent innovators to develop fresh investment concepts that shape German and African business ties, as well as economic thought.
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