SOUTH AFRICA – The African energy industry is set to benefit from the 13th German-African Energy Forum focusing on German and Africa businesses.
The event, to be held between 27th-28th March 2019 in Hamburg, Germany, seeks to enhance German and Africa businesses cooperation by stimulating an enabling investments environment.
Organised the by the Afrika-Verein der deutschen Wirtschaft the forum presents a good platform between African and German entities and governments to forge partnership that will steer growth in the sector.
This will open dialogues between German and Africa businesses as well as public enterprises to: expand the economic ties, transact businesses, enhance job creation, combat energy poverty, and use German know-how to spur growth among other things.
In a bid to boost profitable diversification between German and African businesses, the 13th German-African Energy Forum is set to involve major stakeholders across the continent.
A report by the African Energy Chamber reveals that the forum will feature African participants, from South Africa, Angola, Morocco, Ghana, Sierra Leone, South Sudan, Nigeria, Equatorial Guinea, The Gambia, Burkina Faso, and Somalia.
Additionally, the forum will also integrate ministers, African governments and companies as they network and deliberate with leading German and European companies and investors.
Among them will include ABB, Siemens, Allianz, Voith, Lucas Nülle, Inzag, Gauf Engineering, Andritz or Tractebel.
The forum under the theme “Realising & Financing Africa’s Energy Revolution” will highlight the most promising areas for investment opportunities and energy cooperation between German companies and Africa.
Notably, NJ Ayuk, Executive Chairman at the African Energy Chamber, said that the forum presents an opportunity for Africa to explore the industry, including the smart energy systems, waste-to-energy, renewable energies, hybrid systems and energy financing.
“African countries must continue creating an enabling environment for German investors.
Germany is a key partner for Africa, and German technology and know-how will be key in addressing Africa’s energy challenges.
German companies are global leaders in renewable energy, off-grid solutions, gas-to-power and the development of power infrastructure, especially in the transmission & distribution area.
Attracting further German investments into Africa will be very beneficial to meet capital requirements in energy infrastructure and promote technology and skills transfers,” Ayuk illustrated.
In the recent past, Africa’s energy sector has continued to post significant development which has attracted major multinational investors.
Markedly, the continent’s has increased its liquefied natural gas (LNG) production which and is set to change global energy dynamics.
Among the major countries tapping into the space include, South Africa, Congo, Cameroon, Tanzania, Equatorial Guinea, Ghana, Mozambique, Rwanda and Sudan who have continued to show progress as potential LNG powerhouses.
German companies have shown major interest in the African energy industry as they leverage on the high technology which has enabled them secure investments and execute contracts in power projects around Africa.
However, Germany is yet to compete with other investors from Asia and other European markets who are also in the race to secure a space in the African gas and pipeline sector.