The government of Germany has announced an investment of 4 billion euros in green energy in Africa until 2030. This commitment was made during the Compact with Africa conference, which was attended by African leaders and representatives of international organizations. The initiative, launched by Germany in 2017, aims to improve conditions for private sector investment and sustainable infrastructure in Africa, with 13 African countries already participating. German Chancellor Olaf Scholz emphasized the importance of strengthening cooperation between Africa and Europe to achieve climate-friendly energy supply, particularly through green hydrogen and also highlighted the crucial role of international organizations in preserving a global economic and financial order based on fair rules.

Additionally, the President of the African Development Bank Group, Dr. Akinwumi Adesina, underscored the need to develop stronger partnerships and increase investment in Africa. He emphasized the importance of private sector development on the continent, stating that addressing climate change, Africa's infrastructure gap, and unlocking industrial manufacturing capacities requires attracting large-scale private sector financing. Dr. Adesina also emphasized the importance of aligning private sector development strategies with the net-zero emission objective, prioritizing green investments, and mitigating global risks. He also announced plans to establish an executive advisory committee dedicated to supporting young entrepreneurs and startups in Africa, aiming to revitalize the financial ecosystem to meet the needs of young African entrepreneurs.

The Compact with Africa conference was a crucial meeting point to discuss topics related to multilateral cooperation, the international economic and financial system, investment in green energy, private sector development in Africa, and support for young entrepreneurs on the continent. Discussions focused on current challenges such as inflation, geopolitical tensions, combating climate change, and strengthening trade in a multipolar world, among other relevant topics for sustainable development and economic growth in Africa.

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