Kenya is hosting the German-African Business Summit (GABS) 2024, with an aim of leveraging business in the global markets and strengthening its position as a key partner for trade, investment and diplomatic relations in Africa.
The 5th German-African Business Summit 2024, a three-day event, brings together notable business leaders, government representatives and innovators from Germany and across Africa, underscoring the growing importance of dialogue and cooperation between continents.
Speaking during the launch of the summit in Nairobi, Prime Cabinet Secretary Musalia Mudavadi, stated that the gathering is happening at a time when Kenya continues to strengthen its position as a key partner for trade, investment and diplomatic relations in Africa since the African continent offers immense potential across key sectors such as agriculture, energy, infrastructure, technology and manufacturing.
“But to harness this potential, we need strong partnerships through events like the German-African Business Forum. The summit comes at a time when, as a country, we are celebrating 60 years of our diplomatic journey. At this period, we remember that Germany was the first country in the world to recognize Kenya as an independent country,” Mudavadi said.
Mudavadi noted that the relationship between Germany and Kenya has grown significantly in recent years, with German companies actively investing in sectors such as renewable energy, automotive manufacturing and infrastructure.
“We have seen first-hand the positive impact of such collaborations. This partnership has not only created jobs, but also contributed to the transfer of technology and knowledge, which are vital to Kenya’s long-term economic development,” he stated.
He said that Kenya is committed to its role as a gateway to East Africa and the broader African market and is steadily advancing its Vision 2030, which seeks to transform Kenya into a newly industrialized middle-income economy.
At the same time, he added that the country is working closely with partners to achieve the United Nations Sustainable Development Goals, particularly those relating to clean energy, climate action and inclusive economic growth.
“We view partnership with German enterprises as a critical element for achieving these ambitions,” he said, adding that the bilateral relations between Kenya and Germany also extend far beyond business with cooperation in areas such as labour migration, climate resilience, education and healthcare which reflects the depth and breadth of the relationship.
Mudavadi stated that through collaboration, some of the world’s most pressing challenges have been addressed and added that the German-African Business Forum provides a platform to amplify the efforts and chart new paths for collaborative success.
“As we look ahead, the business community and governments have a unique opportunity to build a more inclusive, sustainable and resilient future,” he said, noting that African youth represent over 60 percent of the continent’s population that drives innovation, embracing technology and shape a brighter future.
He cited that the role of German businesses in supporting this transformation cannot be overstated since through collaboration, new opportunities can be unlocked including new markets, job creation and build stronger economies while ensuring that growth benefits all people.
Mudavadi stated that the forum not only represents discussions but is also a call to action, as well as a reminder that Africa’s potential will not be realized in isolation but through strengthened partnerships.
“I encourage you all to engage actively, share your expertise and explore new avenues for collaboration. Let us continue to work together to create lasting economic growth and development, not just for Kenya but for the entire African continent,” he said.
Sub-Saharan Africa Initiative (SAFRI) Chairman Thomas Schaefer, noted that this year’s summit comes at a crucial time, when the African region is growing rapidly driven by a remarkable entrepreneurial spirit and becoming more interconnected through initiatives such as the African Continental Free Trade Area.
“This momentum can be strengthened by reducing dependency on raw material exports and promoting economic diversification, attracting investment in key sectors such as energy, agribusiness, automotive and manufacturing and fostering technological transfer, skills development and joint innovation,” he said.
Schaefer encouraged the participants to take part in the discussions, while acknowledging Kenya for hosting the summit in order to unlock the potential and build a future of shared growth and success.
German Federal Minister for Economy Affairs and Climate Action Vice Chairman Dr. Robert Herbek, noted that the German-Kenyan trade relation increased steadily over the last years where 930 German companies have invested in Africa and employed over 230,000 people in Africa.
He emphasized security as an important issue as well as the rule of law and constitutional state which helps the German investors to have a safe and stable investment environment.
Herbek highlighted the importance of the conference in addressing challenges like climate crisis which leads to floods and drought, extreme weather, desertification and global warming, demographic changes, wars and conflict among others.
“The time of a pre-globalized world is now challenged by protectionism again and again. Interest fears becoming power fears. Countries, politicians, rulers use trade, use energy, use supply chains for their political interests and these sometimes escalate to wars,” he said.
“This conference is a counteraction to this tendency of closing the markets, raising barriers and making borders as a division line between countries and people,” he said.
He noted that by the year 2030, 75 percent of children aged below 35 will come from Africa as he advised on the creation of skill hubs in Africa, where companies invest, educate on the labor market and German language.
Herbek emphasized on the partnership and the establishment of German startups in Africa as well as German accelerator, a program for German Startups in Kenya as a hub for sub- Saharan Africa.
By Sharon Atieno
