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Third German-African Business Summit takes place in Accra

BY: Kate Baaba Hudson
Mr Micahel Blank (middle) addressing the media on GABs in Accra. With him are Mr Christoph Retzlaff (right) and Mr Mark Schow, who both addressed the media.
Mr Micahel Blank (middle) addressing the media on GABs in Accra. With him are Mr Christoph Retzlaff (right) and Mr Mark Schow, who both addressed the media.

The third German-African Business Summit (GABS) that brought together German and sub-Saharan African high-ranking business executives and government representatives has taken place in Accra.

The three-day summit focused on new opportunities and also learnt from already existing experiences of German-African business relations.

The German Federal Minister for Economic Cooperation and Development, Dr Gerd Muller, and Deputy Minister for Economic Affairs and Energy, Mr Thomas Bareib, took part in the summit.

The German Ambassador to Ghana, Mr Christoph Retzlaff, told journalists that GABS was Germany's signature business event in Africa.

At the summit, he said top business and government leaders from Germany and dub-Saharsn Africa met every two years in Africa to discuss and promote economic relations.

The ambassador noted that the summit was a huge chance for German businesses to invest in Africa.

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He disclosed that German investments sought to create jobs in African countries and transferred technology to the continent.

Currently, he said Germany exported goods at a volume of US$14 billion and imported goods valued at US$12 billion annually.

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The ambassador said he was happy to note that Ghana was a major development partner of Germany.

The Delegate of the Delegation of the German Industry and Commerce in Ghana, Mr Michael Blank, stressed the importance of finance to every business.

He observed that GABS did not only focus on traditional business linkages and business models, but also brought together players of Africa's new economy, known as start-ups.

German Desk

As part of the programme lined up for the summit, a German Desk that will enable companies to gain access to financial support and solutions was set up.

The desk was established by the Delegation of German Industry and Commerce ( AHK) Ghana, the DEG, the private sector investment branch of Germany's development bank KFW, together with its development partner, Access Bank Ghana.

The Head of the Ghana office and West Africa Equity of the KFW, Mr Mark Show, said the German Desk enabled companies to gain access to financial support and services.