President Kagame is in Berlin, Germany, where he is attending a G20 Investment Summit that has brought together German Businesses and the Compact with Africa (CwA) member countries.
He will deliver remarks at the summit today in his double role as the incumbent Chairperson of the African Union and President of Rwanda.
The event is held under the patronage of Dr. Angela Merkel, the Chancellor of the Federal Republic of Germany.
The G20 Investment Summit brings together German businesses and CwA countries to explore investment opportunities under the framework of the G20 Partnership with Africa.
During the event, German investors will present flagship projects currently undertaken in the CwA countries and explore further opportunities on the African Continent.
As an initiative of the G20, CwA was set up under the German G20 Presidency to promote investment in Africa.
Its primary objective is to increase attractiveness for private investment through substantial improvements of the macro, business, and financing frameworks in countries that have signed up to the programme.
CwA brings together reform-minded African countries, international organisations, and bilateral partners from G20 and beyond to coordinate country-specific reform agendas, support respective policy measures and advertise investment opportunities to private investors.
Today, President Kagame attends G20 Investment Summit in Berlin, Germany alongside other African Heads of State. The Summit is held under the Patronage of Dr. Angela Merkel, Chancellor of the Federal Republic of Germany. pic.twitter.com/8TRkiskQcZ
— Presidency | Rwanda (@UrugwiroVillage) October 30, 2018
The initiative is demand-driven and open to all African countries but so far 11 African countries have joined, including Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo, and Tunisia.
The CwA initiative is based on the premise that significant progress can be achieved through a coordinated and country-specific analysis of the obstacles and market failures impeding private investment in African economies.
It brings together the analytical perspectives of governments, would-be investors, and international organisations with extensive operational experience in Africa such as the African Development Bank (AfDB), the International Monetary Fund (IMF), and the World Bank Group (WBG).