Johannesburg – South African President Cyril Ramaphosa says Africa is a viable investment destination and that the continent is open for business.
He made the remarks at last week’s G20 Compact with Africa (CwA) meeting in Berlin, Germany, where he also called for greater global collaboration in protection of lives and livelihoods through COVID-19 vaccination.
The CwA was initiated under Germany’s presidency of the G20 in 2017 with the aim of promoting private investment into Africa.
Twelve African countries have so far joined the initiative in which South Africa – a G20 member – is co-chair with Germany.
In Berlin, leaders discussed vaccine production in Africa, which is key to enabling African economies to build back stronger, faster and more inclusively.
President Ramaphosa commended German business leaders for their continued engagement with South Africa, and pledged his government’s commitment to facilitating greater investment as a key to addressing poverty, unemployment and inequality.
He had engagements with senior representatives of major enterprises like BASF, Bayer, B Braun, Bosch, Enertrag, HSH Software and Hardware, Hensolt, Lufthansa Consulting, Mühlbauer ID Services, SEON, Siemens, Siemens Energy, SUNFarming, Veridos and Volkswagen.
The CEOs assured President Ramaphosa of their continued interest in South Africa as a market in its own right and as a gateway to other African economies. They also indicated their interest in digital transformation, renewable energy generation, and agritech ventures that enable greater production efficiencies and food security.