Overview

• Germany pledges to invest 4 billion euros ($4.37 billion) in African green energy projects until 2030.
• The investment is part of the G20 Compact with Africa, an initiative launched by Germany to improve economic conditions in participating countries and attract foreign private investment.
• Chancellor Olaf Scholz stated that the materials used in green energy should be processed in the African nations they come from, creating jobs and prosperity in these countries.
• Scholz emphasized that Germany aims to become a long-term and reliable partner to countries in Africa.
• In response to China's strong presence in Africa, African leaders expressed openness to other partnerships and called for trust and fewer conditions from potential partners.