The Chancellor was very clear about the use of the funds.
“This fund with an initial endowment of 1 billion euros will be used to support African small and medium-sized enterprises (SMEs) to create more jobs, wealth in order to retain youth on the continent,” she said.
In short, it is Merkel’s strategy to limit the temptation of emigration of young Africans to Europe in search of a better life.
At this Berlin summit on private investment in Africa called "Compact with Africa", several African presidents among which Faure Gnassingbe from Togo, defended their national development programs and especially invited German investors to invest heavily in their respective country.
A message well received by German business community which multiplies exchanges with the delegations present at there.