S. African president embarks on mission to woo investment
CAPE TOWN, Oct. 28 (Xinhua) -- South African President Cyril Ramaphosa left South Africa on Sunday, emarking on a mission to woo investment.
The president will attend the G20 Africa Conference scheduled for October 29-30 in Berlin, Germany, his office said.
The G20 Africa Conference will discuss progress made with the G20 Partnership with Africa and the Compact with Africa (CwA), which was initiated last year under the German G20 Presidency to promote private investment in Africa, including in infrastructure. So far, 11 African countries have joined the initiative.
The conference will also focus on ways in which the G20, African countries and development banks can cooperate to promote private investment and economic participation in Africa, while reflecting on the achievements and gains made since the Hamburg Summit of 2017.
Ramaphosa is also expected to deliver a keynote address, in his capacity as Co-Chair of the G20 Africa Advisory Group, at the conference, presidential spokesperson Khusela Diko said.
The conference brings together German businesses and CwA countries to further explore investment opportunities under the framework of the G20 Partnership with Africa.
During the summit, German investors are expected to present flagship projects currently undertaken in the CwA countries, Diko said.
As part of his working visit, Ramaphosa will have a bilateral meeting with German Chacellor Angela Merkel, according to Diko.
Germany is South Africa's third largest trading partner.