President Kagame made the invitation as he addressed members that participated in the ‘G20 Compact with Africa’ Investment Summit held in Berlin, Germany yesterday.
Kagame cited Rwanda’s partnership with Germany companies like Volkswagen (VW), Siemens and SAP, saying that it “demonstrates the competitiveness of our economies and the reforms that have been happening in the ease of doing business."
“This really showcases how Africa is ripe for business and investment, and how far we can go,” he added
Commending the Germany Chancellor Angela Merkel’s leadership in prioritizing investment from the German business community, Kagame said that this was delivering the practicalities of what Africa wants to see from Germany, Europe, and the G20.
Thomas Schaefer, the Chairman and the Managing Director of Volkswagen South Africa told business executives to present especially those from Germany that the continent was particularly ready for investments in the automotive industry where his group is already invested.
He pointed out that the continent was faced by challenges of dumping of used cars and extraordinary importation of fuel, saying businesses could tap into that to address challenges.
G20 Compact with Africa is an initiative launched in 2017 to promote private investments in Africa and currently, 12 African countries – including Rwanda have joined it.
Besides Rwanda, other African countries that are part of the partnership are Benin, Burkina Faso, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Senegal, Togo, and Tunisia.