Initiative of Cooperation: GERMANY – AFRICA
1- The German Government invited leaders of Africa for a summit in Berlin from 18 to 20 November 2019. The initiative aimed at unifying efforts to support development in the continent and the process of economical reforms of the African countries, and supporting efforts for the reforms of the competitive, and business environment , for improving investment atmosphere and to attract the foreign investments in the African countries.
2- The Government of Germany asked two institutions “ Zafrei” and “Africa Fraien” to coordinate with the African countries members of the initiative , to select projects for each country. The two institutions will work to facilitate connection between businessmen in Germany and Africa through organizing b2b meetings and forums in different economic sectors, Arrange mutual visits for economic delegations and promotion of investment opportunities.
3- Available funding from the German party to support implementation of the initiative is represented in “ Development and investment fund in Africa” to support the German investments in African countries , the capital of this fund is 1 Billion Euro , the German Government is working to finish activating the fund , and providing its capital through secondary funds:
a- Africa Grow Fund: the Capital: of this Fund is 400 Million Euro, it is considered a fund for financing other funds ( fund of funds ) that means financing Capitals and shares for project in Africa.
b- Africa Connect : The capital of this fund is 400 Million Euro , the German Ministry of Economic Cooperation and Development is supervising this fund through the German investment insinuation (DEG) specialized is supporting German and European companies aiming at implementing projects with medium and small companies in Africa , this institution belongs to German Developing Bank. This fund aiming at presenting financial and technical support to the German and European companies to invest in Africa , either by offering information about the African markets or soft loans in Euro or Dollar from 750 , 000 to 4 million Euro for a period from 3 to 7 years , and also presenting support concerning environment and social standards and also Governance standards , and this will be upon request of this companies to benefit of this available funding – through the electronic site of this fund.
c- Business Net Work for Africa: the capital of this fund is 200 million euro, this fund aims at offering information and advice, and other services similar for German companies willing to invest in Africa.
