Berlin, 18/11/2019: Honorary Professor of CBTA, Stefan Liebing spoke to Frankfurter Rundschau about the Compact with Africa – a German initiative to support 12 African countries.
Mr. Liebing emphasized what should be understood and done from the both sides.
Changes in legislation is required from the African side to make the financial support easier.
On the other hand, German companies should be ready to work within the current situation instead of defining the tight goal destinatio and sticking to it.
The initiative was started in 2018 and it had already shown good results: since than German middle-sized companies invested more that one and a half million Euro – more than ever.
Companies who are ready to invest into businesses in Africa, receive financial support from the government in form of favourable loans. However, Mr. Liebing mentioned that the funds are still not enough, especially in Energy or Transport sectors. Additional support from the banks is required here.
Full article (in German)