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Southern Africa – a booming region 

Container ship in the port of Tema near Accra/Ghana

Container ship in the port of Tema near Accra/Ghana, © dpa

13.02.2019 - Article

The 3rd German-African Business Summit is bringing together companies, civil society and politicians.

Ghana is booming. The second largest economy in West Africa grew by more than eight percent in 2017 and is estimated to have grown by more than six percent in 2018, while the forecast for 2019 is more than seven percent.

Ghana is by no means an exception. The sub-Saharan region as a whole has been growing for years, underscoring the African continent’s economic potential in an impressive manner.

Exploiting potential, strengthening partnerships

This potential offers opportunities to German business which have scarcely been tapped to date. Conversely, sub-Saharan countries need investment and know-how if they are to realise their economic potential – the ideal foundation for a partnership of mutual interest.

In order to exploit this potential, the German-African Business Summit has been bringing together German and African decision-makers from the world of business, civil society and politics since 2015. This year, the conference is taking place in Ghana from 10 to 13 February. Alongside Nigeria and South Africa, the country is one of Germany’s most important partners in sub-Saharan Africa.

Sustainable growth as a business model

Breakfast with the heads of 15 German missions abroad during the German-African Business Summit
Breakfast with the heads of 15 German missions abroad during the German-African Business Summit© Auswärtiges Amt

At the German-African Business Summit, more than 500 guests are discussing ways of intensifying economic exchange and enhancing cooperation. Topics on the agenda include the elimination of trade and investment barriers or the opportunities afforded to African business by digital technology.

Among others, the heads of 15 German missions in African are taking part, providing information to German companies on investment opportunities and assessments of the political conditions.

Furthermore, a development prize endowed by German business will be awarded to companies whose commitment has helped foster sustainable development on the ground, thus contributing to the realisation of the United Nations Sustainable Development Goals  (SDGs).

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