JOHANNESBURG - The Germany Africa Business Forum, which aims to strengthen investment ties between the European country and Africa, said on Thursday it had, with private partners from the energy industry, launched a multi-million euro funding commitment to invest in German energy startups that focus on Africa.
“Our initial goal is to support the investment in German companies and to start with funding allocations by the end of this year," GABF co-founder Sebastian Wagner said in a statement.
"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."
Founded in 2017, the GABF encourages German investors to consider Africa as a profitable and important investment destination.
Through a series of initiatives, it draws together African business and political leaders with Germany’s preeminent innovators to develop fresh investment concepts that shape business ties and economic thought.