Annen: We need to boost African investment

Germany's commitment to sustainable development and strengthening partnerships with African countries was highlighted at the Hamburg Sustainability Conference, where Niels Annen, a German government representative, emphasized the importance of boosting investment in Africa and creating a platform for global leaders to collaborate. The conference aimed to address the implementation of the Sustainable Development Goals (SDGs) and the need for diverse actors, including civil society, government representatives, international financial institutions, and the private sector, to work together. Annen stressed the significance of reforming international financial institutions to be more inclusive and take risks to encourage companies to invest. Germany's pledge of 305 million for hybrid capital with the World Bank demonstrated a commitment to leveraging resources for sustainable development. Collaboration with multilateral development banks and the private sector was recognized as essential for fostering economic growth, particularly in Africa. The interview also touched on geopolitical challenges, such as the war in Europe and global tensions between East and West. Annen highlighted the need for political leaders to prioritize addressing conflicts while advancing the SDG agenda. Trust was identified as a vital component for successful partnerships, emphasizing the importance of building relationships based on mutual trust. The conversation turned to German-Africa relations, with Annen noting the opportunities for growth and investment in Africa, as demonstrated by initiatives like the Compact for Africa passed during the G20 leaders' meeting in Hamburg. He underscored the need to support African countries facing crises and refugees, urging European citizens to recognize Africa as a neighboring continent that requires solidarity. In terms of expectations from African partners, Annen emphasized the importance of stability, good governance, and regional cooperation. German companies, both large corporations and family-owned businesses, seek long-term investments and value stability and transparency in the African markets. Collaborating on a regional level to harness the continent's potential for infrastructure development and market growth was identified as a mutually beneficial strategy. Overall, the dialogue between Germany and Africa at the Hamburg Sustainability Conference underscored the shared commitment to sustainable growth, investment, and partnership building. As both regions navigate economic challenges and global uncertainties, fostering trust and collaboration remains essential for achieving mutual prosperity and advancing the SDG agenda.