Techawk

Entrepreneurship, Innovation and Startups News Hub

Germany Africa Business Forum

Germany Africa Business Forum Sets up Fund to Invest in German-African Energy Startups

The Germany Africa Business Forum (GABF) announced it has launched a multi-million Euro funding commitment to investing in German energy startups that focus on Africa in collaboration with private partners from the energy industry.

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

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

“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.

See also  Egyptian B2B eCommerce Marketplace, Talabeyah Secures Seven-figure Pre-Seed Funding

“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”, stated NJ Ayuk, a pan-African energy dealmaker, CEO of Centurion Law Group and Executive Chairman of the African Energy Chamber, a supporter of the initiative.

Anchored in the private sector, the GABF brings together Africa’s foremost executives with German companies, investors and innovators with the aim of driving change.

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.

See also  Asante Closes $7.5m Series A Funding to Close the Gap in MSME Lending in Africa

Through a series of initiatives, the GABF draws together African business and political leaders with Germany’s preeminent innovators to develop fresh investment concepts that shape German and African business ties, as well as economic thought.

We would like to make you the first to get all our updates!    OK No thanks