Key Developments

Germany Pledges Support to Boost Green Energy Efforts in Africa

In a significant move to support Africa’s transition to green energy, Germany has committed to investing 4 billion euros (approximately $4.37 billion) in renewable energy projects across the continent by 2030.

This announcement was made during a news conference held during the G20 Compact with Africa summit in Berlin.

German Chancellor Olaf Scholz emphasized the importance of processing the raw materials used in green energy production within the African nations where they originate.

This approach, he explained, not only generates employment and prosperity within these countries but also ensures a reliable supply chain for the German industry.

The Compact with Africa initiative, launched by Germany during its G20 chairmanship, aims to enhance the economic conditions of participating countries to make them more attractive for foreign private investment.

Scholz underscored Germany’s commitment to establishing long-lasting and dependable partnerships with African nations.

The group of Compact with Africa countries comprises Egypt, Ethiopia, Benin, Burkina Faso, Ivory Coast, Ghana, Guinea, the Democratic Republic of Congo, Morocco, Rwanda, Senegal, Togo, and Tunisia.

Germany’s pledge of $4.37 billion to boost green energy efforts in Africa represents a significant step towards achieving sustainable development goals on the continent.

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