By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- German Africa Business Forum (GABF) has pronounced a multi-million Euro funding commitment to invest in German energy startups in Africa, GABF goal is to augment investment ties between German and Africa in a bid to provide the funding in collaboration with private partners from the energy industry. GABF co-founder Sebastian Wagner noted in a statement; “Our initial goal is to support the investment in German companies and to start with funding allocations by the end of this year” Said Sebastian Wagner, “Through our Partners, we will immediately get involved in investing in solutions-driven German startups with pragmatic business models to solve Africa’s energy challenges through the provision of German technology and innovation”, he added.
The funding commitment, which pledges funds to German startups with exposure to African energy projects, will be the first such intra- regional initiative.
“The future of Africa’s energy industry will depend on technology and innovation. When German startups and Africans work together, we can build something unique for both our peoples. I applaud the GABF for this well thought out initiative. I believe it is in line with the goals of the G20 Compact with Africa, driven by German”, NJ Ayuk, a Pan–African energy dealmaker, CEO of Centurion Law Group and Executive Chairman of the African Energy Chamber, Said.
Vanguard in the private sector, the GABF brings together Africa’s foremost executive with German companies, investors and innovators with the aim of driving change. Founded in 2017 as a “private for privates” the GABF encourages German investors to consider the African continent as a profitable and important investment destination. Through a stream of initiatives, the GABF draws together African business and political leaders with Germany’s notable innovators to develop fresh investment concepts that shape German and African business ties as well as economic thought.
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent
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