3rd German-African Business Summit in Accra concludes with tangible results

The 3rd German-African Business Summit – held from February 11 to 13, 2019 in Accra, saw the attendance of over 600 guests including government executives, business associations, CEOs, decision-makers and start-up entrepreneurs from Germany,

Germany and Africa met in Ghana to establish contacts, promote business ideas, and negotiate contracts that will bring Germany and the African continent even closer together in the field of trade and investment.

High-level panels discussed questions of unleashing Africa’s full trade potential, Moving Africa up the value-chain and How to make the 21st century Africa’s century.

Vice-President Dr. Bawumia opened the event together with the German Minister for Economic Cooperation and Development, Dr. Gerd Müller; Deputy Minister for Economy and Energy, Thomas Bareiß; and President of the sub-Sahara Africa Initiative of German Business (SAFRI), Prof. Heinz-Walter Große.

German-African trade amounted to US$26bn in 2018, with African countries exporting US$12billion to Germany and importing US$14billion. Ghana’s trade with Germany grew by 25% in 2018, with Ghana’s exports rising sharply by more than 80%. German investment in Africa grew by 10% in 2018.

The German government and German companies underscored their commitment to Africa, and to Ghana in particular, through several bilateral initiatives, e.g.:

  • The establishment of a German-Ghanaian Business Council
  • The establishment of a cooperation between Afrika-Verein (German-African
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Business Association) and Ghana Investment Promotion Centre (GIPC)

  • The opening of a German Desk for financial solutions to investors and trading companies at Access Bank Ghana in cooperation with German Development Bank DEG and Delegation of German Industry & Commerce in Ghana (AHK Ghana)
  • Opening the Knauf training centre for 800 construction workers yearly in Accra’s Northern Industrial Area
  • The signing of an agreement for renewable energy supply between Siemens and Westpark Ghana

The event also brought together some 180 young African entrepreneurs who were part of the 1st German African Entrepreneurship Summit (GAES) organised by the Konrad Adenauer Foundation. The GAES took place concurrently with GABS and saw Start-ups from all over Africa converging in Accra to kick-start discussions on developing a policy framework for Start-ups in Ghana. They also had the opportunity to meet with established companies from Germany and Africa during the GABS, thus using this platform to pitch their business ideas to potential customers and investors.

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