This archive report was first published on 26 July 2019.
On July 26, 2019, the Germany Africa Business Forum (GABF) announced a multi-million Euro funding commitment to support German energy startups with a focus on Africa.
As the first intra-regional initiative of its kind, the funding commitment will provide financial support to German startups involved in African energy projects.
According to Sebastian Wagner, co-founder of the GABF, the initial goal is to support investment in German companies and make funding allocations by the end of 2019. '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, a pan-African energy dealmaker and CEO of Centurion Law Group, expressed his support for the initiative, stating, '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.'
Founded in 2017, the GABF aims to drive change by bringing together Africa's foremost executives with German companies, investors, and innovators. The organization encourages German investors to consider the African continent as a profitable and important investment destination.
