The summit intends to bring together German businesses and African countries to further explore investment opportunities.
President Cyril Ramaphosa will leave on Sunday on a working visit to Germany to attend the G20 Africa conference from October 29 to 30 in Berlin, the presidency said on Saturday.
The G20 Africa conference would discuss progress made with the G20 partnership with Africa and the Compact with Africa (CwA), Ramaphosa’s spokesperson Khusela Diko said in a statement.
It will also focus on ways in which the G20, African countries, and development banks can co-operate to promote private investment and economic participation in Africa while reflecting on the achievements and gains made since the Hamburg summit of 2017.
Ramaphosa was also expected to speak – in his capacity as co-chair of the G20 Africa advisory group – at the G20 investment summit. The summit intends to bring 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 were expected to present flagship projects currently undertaken in CwA countries. As part of his working visit, Ramaphosa will have a bilateral meeting with German Chancellor Angela Merkel.
“Germany and South Africa enjoy a robust and growing trade relationship. In 2017, Germany remained South Africa’s 3rd largest global trading partner. South African exports to Germany amounted to R84.198 billion and imports amounted to R127.543 billion. There are more than 600 German companies in South Africa that sustain approximately 100,000 jobs,” Diko said.
Ramaphosa will be accompanied by Finance Minister Tito Mboweni.