German Companies Plan to Invest More in Africa in 2023
12/28/2022
BERLIN (Reuters) – German companies want to boost their activities in Africa next year, especially in areas such as green hydrogen and LNG, with 43% planning to increase investment in the continent, a survey seen by Reuters showed.
The poll of members of the German-African Business Association also showed that a further 39% of Association's members aim to keep their spending levels in Africa stable.
“The majority of companies want to expand their activities in the coming year,” Association head Christoph Kannegiesser told Reuters. “It makes sense, because the continent is still on a growth trajectory.”
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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