Media Statement

29 October 2018

President Ramaphosa arrives in Germany for G20 Compact with Africa Conference

President Cyril Ramaphosa has this morning, 29 October 2018, arrived in the Federal Republic of Germany to attend the G20 Compact with Africa Conference scheduled for 29 to 30 October 2018 in Berlin.

The conference will discuss progress made with the G20 Partnership with Africa and the Compact with Africa (CwA). The CwA was formally launched during the July 2017 G20 Hamburg Summit and comprises 12 African countries including Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Tunisia, Togo and recently Burkina Faso.

The CwA Initiative is based on the premise that significant economic development can be achieved when African countries, G20 members, development partner countries, and international organisations work together to create a better environment for private investment.

This conference will therefore also focus on ways in which the G20, African countries and development banks can cooperate to promote private investment and economic participation in Africa while reflecting on the achievements and gains made since the Hamburg Summit of 2017.

President Ramaphosa will deliver a keynote address - in his capacity as Co-Chair of the G20 Africa Advisory Group - at the G20 Investment Summit.

The Summit brings together German businesses and CwA countries to further explore investment opportunities under the framework of the G20 Partnership with Africa.

During the Summit, German investors are expected to present flagship projects currently undertaken in the CwA countries.

As part of his working visit President Ramaphosa will have a bilateral meeting with Dr. Angela Merkel, Chancellor of the Federal Republic of Germany.

Germany and South Africa enjoy a robust and growing trade relationship.

In 2017, Germany remained South Africa’s 3rd largest global trading partner. South African exports to Germany amounted to R84, 198 billion and imports amounted to R127, 543 billion. There are more than 600 German companies in South Africa that sustain approximately 100 000 jobs.

President Ramaphosa will be accompanied by the Minister of Finance, Mr Tito Mboweni.

Media enquiries: Khusela Diko, Spokesperson to the President, on 072 854 5707

ISSUED BY THE PRESIDENCY OF THE REPUBLIC OF SOUTH AFRICA
Pretoria

http://www.thepresidency.gov.za/




 

 

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