The summit held on 26th and 27th August 2021 was chaired by Chancellor Merkel and brought together heads of state and governments from G20, entrepreneurs, investors and entrepreneurs among other partners.
As he addressed participants of the summit, Kagame emphasized that Africa is open for business and investment providing ground for prosperity.
“Africa is open for business and that productive investment and trade is the pathway to prosperity and stability,” he said.
In Rwanda, we have seen an increase in connections to German business and investment. We welcome this and wish to see even more.The challenge before us is to convert the solid political will into even more tangible results on the ground,” added Kagame.
The President also voiced appreciation to Chancellor Merkel highlighting that the Compact with Africa is one of many examples of her personal engagement, leadership, and commitment that have marked her tenure.
The G20 Investment Summit is considered a unique opportunity to meet high-ranking representatives from business and politics.
So far, twelve African countries that have joined the Compact with Africa initiative include Benin, Burkina Faso, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.
The G20 Compact with Africa (CwA) was initiated in 2017 under the German G20 Presidency to promote private investment in Africa including, in infrastructure.
The CwA’s primary objective is to increase attractiveness of private investment through substantial improvements of the macro, business and financing frameworks.
It brings together reform-minded African countries, international organizations and bilateral partners from G20 and beyond to coordinate country-specific reform agendas, support respective policy measures and advertise investment opportunities to private investors.
The initiative is demand-driven and open to all African countries.