East Africa as a partner region for the state of Saxony
The East African countries are ideal partners for economic cooperation due to their current economic growth potential. The infrastructure there needs to be expanded in order to open up new, lucrative markets. An investment in Africa is an investment in the fastest growing continent in the world.
Ethiopia, with 108 million inhabitants, is the second most populous country on the continent. With its strong solar radiation and high wind loads, Ethiopia is the ideal location to invest in renewable energies such as solar systems and large wind farms. "GERD", Africa's largest dam in the Nile Valley, will supply Ethiopia and its neighboring countries with 6450 MWe of energy. The Ashegoda wind farm also supplies a huge amount of clean energy with 120 MWe. In addition, Tanzania, for example, is one of the fastest growing economies in Africa and the world. The country has tripled its GDP since 2000.
After our many years of experience in the African market, we know that East Africa would be an ideal partner region. On the one hand, East Africa is currently the fastest growing region in Africa with an average GDP growth of 5% (African Economic Outlook, 2020). On the other hand, the region has a good business environment and a high level of political stability. In addition, the promotion of East Africa would have further spillover effects for the other African states. In addition, the projects can make a significant contribution to achieving the Sustainable Development Goals. East Africa is therefore a region full of opportunities waiting to be exploited in the future.