Joint press release issued by:
Logo: Federal Ministry for Economic Cooperation and Development Logo: German-African Business Association (Afrika-Verein der deutschen Wirtschaft)

Federal Minister Müller attends German-African Busi­ness Day: Recognising Africa's eco­nomic importance

Federal Minister Müller speaking at the German-African Business Day

26.06.2014 |

Berlin – Africa's economic potential is still under­estimated. At the German-African Busi­ness Day hosted in Berlin by the Afrika-Verein der deutschen Wirt­schaft e.V. (the German-African Busi­ness Asso­cia­tion) repre­sen­ta­tives from politics and business emphasised the growing importance of German-African economic co­op­er­a­tion. Both Federal Minister Müller and repre­sen­ta­tives from the German private sector called for more co­op­er­a­tion on the continent.

"African markets are becoming more and more im­por­tant for German busi­nesses. There are currently more than 200,000 people in Africa working for German companies," said Dr Stefan Liebing, chair of the Afrika-Verein, at the opening session. "There are, however, vast opportunities still to be tapped. In the energy sector alone, we expect to see business opportunities for German companies in the next few years worth well over 80 billion euros."

He went on to say that infra­structure and the health sector were also expected to offer promising opportunities, with greater co­op­er­a­tion between politics and business being seen as a critical spur for more growth. The new Federal Govern­ment Policy Guidelines for Africa were an im­por­tant step in that direction.

In his speech, Federal Minister Müller, patron of the German-African Business Day, emphasised the continent's huge potential and its dynamic economic, social and political de­vel­op­ment. At the same time, he called on the private sector to seize the opportunities that are opening up in Africa.

"De­vel­op­ment co­op­er­a­tion and responsible private sector involve­ment go well together. So far, Africa accounts for a mere two per cent of Germany's foreign trade. This volume could well be expanded. Many African states have tre­men­dous growth rates; the African continent, with its young popu­la­tion, offers excellent opportunities for invest­ment. German businesses can contribute state-of-the art know-how to mastering the challenges of the future in areas ranging from climate and energy technology to mobility and medicine."

More than 100 people engaged in business, politics and public life had been invited to attend the German-African Business Day. Participants included the group of African Ambassadors in Germany and numerous guests of honour from Africa and Germany. The event brings together various actors for an exchange of views on Africa's economic potential based on the successful experiences of German companies.

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