BERLIN — Five new business partnerships were launched between European companies and East African partners Friday at the Invest.EastAfrica! forum, signaling a push for stronger economic ties and sustainable trade.
The partnerships involve major firms such as Bayer, Melitta and ofi. They focus on sectors ranging from artificial intelligence and digital business models to cashew and coffee processing.
Barbel Kofler, parliamentary state secretary to the Federal Minister for Economic Cooperation and Development, said the collaborations demonstrate a commitment to private sector growth that benefits local populations. Kofler added that the ministry will continue working with the East African Community to improve investment conditions.
The three-day event in Frankfurt and Berlin drew more than 350 representatives from German companies and a delegation of 60 East African businesses. Discussions centered on agri-business, pharmaceuticals, carbon credits and tourism.
East Africa has emerged as a regional economic powerhouse, with inter-regional trade growing by more than 12%. The forum comes as the East African Community works to finalize an economic partnership agreement with the European Union, which currently ranks as the region’s fourth-largest trading partner.
Manfred Pentz, Hessian state minister for international affairs, described the region and its 320 million inhabitants as a strategically relevant market for German companies.
Organizers, including the German-African Business Association and the State of Hesse, announced plans to support 10 additional business cooperations for next year’s forum. These upcoming projects are expected to target 500 million euros in investment and include companies such as Deutsche Bank, Lufthansa and Fresenius.
Jaswinder Bedi, vice president of the East African Business Council, said the regional business community is ready to implement the projects to further boost ties with Germany.
