GABF to invest in German-African energy start-ups

The German Africa Business Forum (GABF), whose goal is to strengthen investment ties between Germany and Africa, has announced a multi-million euro funding commitment to invest in German energy start-ups focusing on Africa in collaboration with private energy partners.

The funding commitment, which pledges funds to German start-ups with exposure to African energy projects, will be the first such intra-regional initiative.

Sebastian Wagner, the co-founder of the GABF, said, “Our initial goal is to support the investment in German companies and to start with funding allocations by the end of this year.”

“Through our partners, we will immediately get involved in investing in solutions-driven German startups with pragmatic business models to solve Africa’s energy challenges through the provision of German technology and innovation,” he added.

NJ Ayuk, CEO of Centurion Law Group and executive chairman of the African Energy Chamber, commented, “The future of Africa’s energy industry will depend on technology and innovation.”

“When German start-ups and Africans work together, we can build something unique for both our peoples. I applaud the GABF for this well-thought-out initiative. I believe it is in line with the goals of the G20 Compact with Africa, driven by Germany,” he stated.

Founded in 2017 as a ‘private for privates’, the GABF encourages German investors to consider the African continent as a profitable and important investment destination. Through a series of initiatives, the GABF draws together African business and political leaders with Germany’s innovators to develop fresh investment concepts that shape German and African business ties as well as economic thinking.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.