Robert Habeck, Germany’s Vice-Chancellor and Economy Minister, has emphasized the need for a “safe and stable” environment to boost German investments in Africa. Habeck made this statement on Tuesday during the opening of the 5th German-African Business Summit in Nairobi, Kenya. He revealed that even though it only accounts for 1% of Germany’s foreign investments at the moment, Africa presents significant growth opportunities. According to him, political stability in Africa will not only attract investments but will also improve the lives of its citizens. Kenyan Cabinet head Musalia Mudavadi echoed Habeck’s words, urging fewer bureaucratic barriers and clearer legal frameworks to facilitate foreign direct investment to the continent. Both leaders highlighted Africa’s untapped potential in sectors like energy and infrastructure, with Mudavadi praising Germany’s role in job creation and technology transfer in Kenya.
SOURCE: DW
