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.
The SADC consists of 14 states and has its headquarters in Gaborone, Botswana.
The core task of the SADC is to coordinate economic growth, infrastructure, poverty reduction and improving the quality of life of the peoples of the member states at a central location. This is to be achieved primarily by promoting regional integration, building on democratic principles and fair, future-oriented development. A Secretary General is elected by each member state for each year on a rotation basis, similar to the EU.
Good development trends (and an increasing trend) can be seen in the area of foreign trade with the member states of the SADC. German-African foreign trade will also grow strongly this year. This justifies the fact that a Federal Chancellor made a longer trip to Africa this year (2004) for the first time in German history. According to the Federal Ministry for Economic Cooperation and Development, development aid in these countries must create the conditions for their economies to benefit from the globalization of the world economy.
Saxon companies have the opportunity to receive funding from the Free State of Saxony. Companies in Thuringia receive funding from their state for comprehensive advice.