Africa as a growth market for firms in northern Germany
Just like all other regions of the country, northern Germany sees a great potential for cooperation with Africa. According to GTAI, African markets provide attractive opportunities for German companies – both large firms and SMEs – due to their level of economic growth, the young population and the increasing regional integration. Companies in northern Germany are particularly interested in the logistics, mechanical engineering and production, environmental technologies and agritech sectors.
Thomas Schäfer, Chairman of the Sub-Saharan Africa Initiative of German Business (SAFRI) and Member of the Board of Management of Volkswagen AG, said: “Africa has an enormous potential for economic growth, but it is important that companies also produce on this continent rather than only extract and export raw materials.” He also underlined the role of Germany’s promotion of foreign trade and investment. “The Federal Republic of Germany’s instruments to promote foreign trade and investment can help German enterprises to expand their activities in Africa. For this purpose, however, they need to be better connected.”
