European Companies Should Take More Interest In Africa, German President Says

German President Frank-Walter Steinmeier has called on German companies to show more interest in investing in African countries.

German President Frank-Walter Steinmeier has called on German companies to show more interest in investing in African countries.

“I believe that German business has every reason to look at other markets, especially markets in Africa,” Mr Steinmeier said Thursday during his state visit to Zambia, the final leg of his trip to the continent.

That country, for example, offers relatively favourable investment conditions, according to Mr Steinmeier.

“We have a very stable political landscape that has also learned to deal with changes in political leadership,” Mr Steinmeier said of Zambia.

In addition, he said, Zambia was in the process of strengthening its economy by drawing higher-value investments to the country in addition to dealing with foreign companies to exploit natural resources.

“It is now important that European companies, including German companies, get to know these market conditions, learn to appreciate them and invest,” Mr Steinmeier said.

Meanwhile, Mr Steinmeier also learned about the consequences of climate change on the Zambezi River, which causes the level of the river to drop so much in the dry season that it endangers the reliable water supply to the region.

Before arriving in Zambia, Mr Steinmeier had visited Tanzania.