Until 2030, the German government promised to invest 4 billion euros, or $4.37 billion, on green energy initiatives in Africa.
During a press conference on the G20 Compact with Africa summit that was held in Berlin, Scholz talked about the promise. He stated that the resources used in green energy should be processed in the African countries from which they originate, without mentioning any particular initiatives.
“This creates jobs and prosperity in these countries,” Scholz said. “And the German industry gets reliable suppliers.”
The concept behind Compact with Africa was introduced by Germany while it was the chairman of the Group of 20 major wealthy and developing countries. The objective is to enhance the economic circumstances of the involved nations to render them more appealing to foreign private investment.
According to Scholz, Germany ought to establish itself as an enduring and trustworthy ally with African nations.
“Africa is our partner of choice when it comes to intensifying our economic relations and moving toward a climate-neutral future together,” he said.
According to German news agency dpa, the nations that are part of the Compact with Africa are Egypt, Ethiopia, Benin, Burkina Faso, Ivory Coast, Ghana, Guinea, the Democratic Republic of the Congo, Morocco, Rwanda, Senegal, Togo, and Tunisia.
When asked about China’s significant influence in Africa, a number of African leaders responded that their continent was amenable to new alliances.
“Perhaps China was more audacious, perhaps they have more vision and perhaps they trusted the potential in Africa,” Moussa Faki, the chairperson of the African Union Commission, said.
“The African continent is open to different partnerships,” he added. “Our wish is for you to place your trust in us, to impose less conditions and to create the conditions together. …
“Improving governance, that’s our responsibility, and therefore this shared vision could allow, I’m certain of it, for a large capital that could be invested in the continent,” Faki said.
