Today, Accra, and for three days, plays host to the 3rd German-African Business Summit (GABS) and important political figures like the German Federal Minister for Economic Cooperation and Development, Dr. Gerd Muller, and Deputy Minister for Economic Affairs and Energy, Thomas Bareiss will be in attendance.
President Nana Akufo-Addo of the Republic of Ghana is expected to open the event on tomorrow which will see over 350 German and African companies participate and 16 German Ambassadors from African countries like Equatorial Guinea, Benin, Guinea, Liberia, Nigeria, Tanzania and Togo will come to Accra to discuss the future potential for German-African business relations.
GABS is Germany’s signature business event in Africa at which top business and government leaders from Germany and sub-Saharan Africa meet every two years in the continent to discuss and promote economic relations.
The GABS is organised by the Sub-Saharan Africa Initiative of German Business (SAFRI) and chaired by the SAFRI Chairman, Prof. Dr. Heinz-Walter Groβe, Chairman of the Board of B. Braun Melsungen AG.,who says “Sub Saharan Africa market provide a lot of business potential to German medium sized business!”
Prof. Dr. Heinz-Walter Groβe observed that “Sub –Saharan Africa is in a process of economic change. This is a huge chance also for German business to invest in Africa, German investments are slated to create jobs in Africa countries and transfer technology to the continent”.
Currently German exports goods at a volume of 14 billion US-dollars to Africa and imports goods worth 12 billion US-dollars yearly.
Tonight will be all about the financial solutions for German-African Business relations. Together with its partners Access Bank Ghana, and the Delegation of German Industry and Commerce (AHK Ghana), DEG, the private sector investment branch of Germany’s development bank KfW, will inaugurate a new service for German SMEs and Ghanaian SMEs: the German Desk.
The German Desk enables companies to gain access to financial support and solutions. It combines all the products and services offered by Access Bank with the network and support of AHK Ghana and DEG.
GABS not only focuses on traditional business linkages and business models, but it will also bring together players of Africa’s New Economy (start-ups) with corporates from Germany to create new synergies: On the second day of GABS, participants from the 1st German African Entrepreneurship Summit (GAES) organised by Konrad Adenauer Foundation, Accra- will join the conference and get together with potential partners in the Old Economy.
Five start-ups from different African countries will have the chance to pitch in front of 500 delegates; the winners will be awarded attractive packages for mentorship and further assistance by sponsoring companies.
Dr. Michael Blank, Delegate of German Industry and Commerce in Ghana, (AHK), at a pre-event press brief at their office in Accra said this will be the biggest conference in Africa- on German-African business relations and they are expecting around 500 German businesses to attend.
He emphasised that Africa is much more than a development partner but is a business partner, hence the need for the conference and that Day two of the event will see African start-ups linked with German corporates. In attendance was the Federal Republic of Germany’s Ambassador to Ghana, Christoph Retzlaff who expressed the hope that the event will go a long way to boost the economic and business relations between the two countries and present Ghana the opportunity to showcase its economic potential.