Kigali: President Kagame is in Berlin, Germany where he joins other African leaders for this year’s G20 Compact with Africa Investment Summit and Conference.
The G20 Compact with Africa (CwA) was launched in 2017 under the German G20 Presidency. 12 African nations have so far joined the initiative: Benin, Burkina Faso, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.
This year’s events will begin with an Investment Summit which will highlight investments resulting from the G20 Compact with Africa partnerships. Rwanda will present its partnership with Volkswagen and Siemens. Later in the afternoon, German Chancellor Angela Merkel will host a conference for Heads of State from partner countries to discuss the Compact with Africa.
Global FDI flows were down 13% in 2018, the third consecutive year of decline. However, Africa recorded nearly 11% FDI growth in 2018, reaching $46 billion. In 2018, FDI to CwA countries reached $21 billion (46%) of total FDI flows to the continent.
German business interests in Rwanda are expanding. From 2000 to September 2019, the Rwanda Development Board has registered 17 German investments (totalling above $257 million) across a range of sectors: energy (4), mining (1), services (4), construction (3), ICT (1), agro-processing (1) and manufacturing (3). (End).