A continent full of opportunities and potential

Helmut Gauges, Head of the Africa / Middle East Regional Department at KfW Development Bank, praised the decades of positive cooperation with the African states at a celebration held at KfW’s offices in Berlin on 25 May to mark the 53rd anniversary of the foundation of the African Union (AU). Mr Gauges reported that, in 2015 alone, KfW Development Bank’s new commitments in Africa as part of German financial cooperation exceeded EUR 2 billion.

Houadja Adom-Kacou, the Ambassador to Germany from the Republic of Côte d’Ivoire and currently dean of the group of African ambassadors in Berlin, emphasised what enormous opportunities and potential the continent has to offer. According to the Ambassador, it is im-portant to keep these in mind despite the stagnation of economic integration in Africa. After all, the process of integration took some time in Europe as well, he added.

Frank Heinrich, member of the German Bundestag for the CDU/CSU, spoke out in favour of a renaissance in relations between Africa and the EU. He claimed that cooperation was still being overshadowed by negative preconceptions on the European side. According to Mr Heinrich, many people associate Africa with crises, hunger and conflict, but fail to see the enormous economic opportunities that the continent harbours. He believes that Europe has to build up its presence on the African continent in comparison to other global players.

Elsewedy Electric Egypt was presented as a good example for entrepreneurial intervention. The Egyptian energy company, which was founded in 1938, boasts impressive growth. This shows that success stories are not only possible in Africa, but also more so here than in other regions. The company now exports to more than 110 countries, including ones in Europe.

In the on-stage discussion that followed, Rüdiger König, Head of the Directorate General for Crisis Prevention, Stabilisation and Post-Conflict Reconstruction at the German Federal For-eign Office, referred to the dynamics of the current crises, which are no longer limited by na-tional borders. That is why we are seeing an increase in political challenges that affect Africa and Europe in equal measure, as a result of which both continents are united by their interest in political and economic stability. Mr König then went on to state that the African Union is also a strong partner for Germany in the field of conflict management, and is likely to remain so in the future too. Peter Mayer, a professor at Osnabrück University of Applied Sciences, and Erhabor Idemudia, a professor at North-West University in South Africa, stressed the need for regional economic integration in Africa as well as an improvement in international trade relations. However, they added that these require strong institutions, adherence to the rule of law and effective governance.

In her closing statement, the Ghanaian Ambassador Akua Sena Dansua thanked the KfW Group on behalf of all of the African embassies for the excellent cooperation. She described Africa as a continent of dynamic and strong-willed people, and also appealed to Europeans to step up their economic involvement in Africa.