Africa is an attractive continent not just for Chinese firms. His charm has also recently been discovered by a number of German companies, which invested around €1.6bn here last year. Next year, the volume of German investment is set to continue to increase.
40 percent for unchanged levels
More than two-fifths of German firms plan to increase their investments in Africa in 2023. Another nearly 40 per cent then want to keep their levels unchanged. It follows a current survey conducted by Reuters among members of the German-African Business Association.
“Most companies want to expand their operations in Africa next year. It makes sense because this continent is still on a growth trajectory,” Christoph Kannengiesser, head of said association, was quoted as saying for Reuters as saying.
Green Hydrogen Trend
In the past, most German investment in Africa went to countries in the sub-Saharan region. From the point of view of the sector, German companies were mainly interested in the production of green hydrogen. This trend is likely to continue in the coming year. Nearly two-thirds of German companies rate their investments in Africa positively.
