The African continent is an emerging market with great potential for growth and development, and German companies are increasingly recognizing this. According to a recent survey conducted by the German-African Business Association (DAWF), German companies plan to invest more in Africa in the next two years.
The survey found that more than two-thirds of German companies plan to increase their investments in Africa by 2023 and 2022. This is a significant increase from the 11 percent figure reported in 2018. In addition, the survey found that over half of the companies surveyed are planning to invest in new projects in Africa.
This increased interest in Africa is the result of several factors. First, the continent is becoming increasingly attractive to foreign investors due to its large population and growing middle class. Second, the continent offers a wealth of natural resources, making it a prime destination for companies looking to diversify their portfolios. Finally, the continent is home to a number of innovative startups and entrepreneurs, making it an attractive destination for venture capitalists.
The survey also found that the majority of German companies view Africa as a strategic market for their business. This is due to the continent’s strong economic growth, which has been estimated to reach 5.3 percent this year.
The survey also found that most German companies are planning to invest primarily in the energy, manufacturing, and infrastructure sectors. These sectors have been identified as key drivers of economic growth in the continent.
The survey results show that German companies are optimistic about the future of Africa and are eager to invest in the continent. This increased interest in Africa is a positive sign for the continent’s future and is an indication that German companies recognize the potential of this emerging market.
The results of this survey are encouraging for African countries, as increased investment from German companies could help to spur economic growth and development in the continent. It is also a positive sign for German businesses, as it shows that they are willing to take risks and invest in a market that is often overlooked by other investors.
Ultimately, the results of this survey highlight the potential of Africa as an investment destination. With the right investments and support, Africa has the potential to be a major player in the global economy. It is encouraging to see that German companies are recognizing this potential and are taking steps to invest in the continent.