President Cyril Ramaphosa has arrived in Germany where he is expected to participate in the G20 Africa Conference in Berlin.
The conference will discuss progress made with the G20 Partnership with Africa and the Compact with Africa (CwA), the Presidency said on Monday.
The CwA was formally launched during the July 2017 G20 Hamburg Summit and comprises 12 African countries including Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Tunisia, Togo and recently Burkina Faso.
The CwA Initiative is based on the premise that significant economic development can be achieved when African countries, G20 members, development partner countries, and international organisations work together to create a better environment for private investment.
“This conference will therefore also focus on ways in which the G20, African countries and development banks can cooperate to promote private investment and economic participation in Africa while reflecting on the achievements and gains made since the Hamburg Summit of 2017,” the Presidency said.
President Ramaphosa is also expected to deliver a keynote address in his capacity as Co-Chair of the G20 Africa Advisory Group at the G20 Investment Summit.
The summit brings together German businesses and CwA countries to further explore investment opportunities under the framework of the G20 Partnership with Africa.
During the summit, German investors are expected to present flagship projects currently undertaken in the CwA countries.
As part of his working visit, President Ramaphosa will have a bilateral meeting with Angela Merkel, Chancellor of t Germany, the Presidency said.
President Ramaphosa will be accompanied by Finance Minister Tito Mboweni.
Germany and South Africa enjoy a robust and growing trade relationship. In 2017, Germany remained South Africa’s third largest global trading partner.
South African exports to Germany amounted to R84.198 billion and imports amounted to R127.543 billion. There are more than 600 German companies in South Africa that sustain approximately 100 000 jobs.
SAnews.gov.za
