German ambassador to Ghana Christoph Retzlaff earlier today announced that the German government had launched a €1-billion Africa fund.
Retzlaff (pictured above, left with former Ghanaian president John Dramani Mahama) said in a tweet last week that the fund will support African startups and small businesses, as well as German and European companies.
It’s not yet clear when the fund will make its first investments or which startup verticals it will target.
Ventureburn sought comment from the German embassy in Ghana on this and other details on the fund but had not received a comment at the time of publication.
The fund is part of the G20 Compact With Africa initiative which was launched under Germany’s G20 presidency in 2017 to promote investment in Africa.
At least 12 African states form part of the initiative. They are Benin, Togo, Ghana, Ivory Coast, Burkina Faso, Guinea, Senegal, Morocco, Tunisia, Egypt, Ethiopia and Rwanda. Continue reading