German companies plan to invest more in Africa in 2023

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German companies want to boost their activities in Africa next year, especially in areas such as green hydrogen and liquefied natural gas, with 43% planning to increase investment in the continent, a survey seen by Reuters on Tuesday showed.

The poll of members of the German-African Business Association also showed that a further 39% of Association's members aim to keep their spending levels in Africa stable.

German companies invested about 1.6 billion euros in Africa in 2021, of which about 1.1 billion euros went to the sub-Sahara region, according to economy ministry data. "The field of green hydrogen and liquefied gas will give a new impetus in many countries," he said, highlighting Senegal, Nigeria and Mauritania as countries with investment potential.The survey showed that 56% of the companies viewed their business activities in Africa in 2022 positively and a further 7% rated them "very good".

 

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Good, looking how things going forward in to future, investing in any African country is a fantastic opportunity

Waiting to see you in Ghana 🇬🇭. Thank you

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