Your Excellencies, Heads of State and Government,
Chancellor Friedrich Merz of Germany,
President of the World Bank, Ajay Banga,
Distinguished Ministers and Central Bank Governors,
Heads of International Organisations,
Distinguished Guests,
It is my honour to welcome you to this G20 Compact with Africa event on economic growth and jobs.
This event allows us to reflect on the progress that has been achieved through the Compact with Africa, and to discuss the promise of its next phase, known as Compact with Africa 2.0.
The Compact aims to deepen investment, create jobs and build sustainable prosperity through stronger partnerships with the private sector.
Since its establishment during Germany’s G20 Presidency in 2017, the Compact with Africa has made steady progress.
It has supported participating countries in implementing ambitious reforms and mobilising investment.
It has strengthened dialogue between governments, private investors and international partners.
We welcome the increased interest by African countries in joining the initiative. This underscores its relevance and value.
This year, we have made revitalising the Compact with Africa a central priority, with a focus on expanding membership through enhanced visibility within the G20 and across the African continent.
Over the course of 2025, and in close collaboration with the German Federal Government, we convened a series of high-level events to showcase and profile the Compact.
These included a Ministerial Dialogue held on the margins of the G20 Finance Ministers and Central Bank Governors Meeting in July.
This was followed by a Ministerial Outreach on the margins of the 8th African Union Specialised Committee on Finance in October.
The Ministerial Outreach was an important platform to inform AU Member States about the benefits and achievements of the Compact.
The last high-level event was convened on the margins of the 2025 Annual Meetings of the World Bank Group and the International Monetary Fund.
Supported by the World Bank, this event marked the official launch of the new Multi-Donor Trust Fund, designed to support the next phase of reforms and investment within the Compact with Africa framework.
We welcome Germany’s commitment to provide the initial contribution of 10 million Euros towards this new instrument.
Today’s dialogue reaffirms the importance of strong cooperation between the G20 and Africa, underscoring the vital role of the private sector in driving growth, creating jobs and promoting shared prosperity.
I trust that through this engagement, we will strengthen the Compact as a key channel for partnership, reform support and increased private sector involvement.
We are confident that it will continue to unlock investment and help build resilient, inclusive economies across the continent.
In closing, I would like to thank the German Federal Government for its steadfast leadership of this initiative since its inception.
I acknowledge our valued partners – the International Monetary Fund, the World Bank Group, the African Development Bank, the African Centre for Economic Transformation and the African Union – for their continued support.
Lastly, we recognise the Compact countries for their efforts in reforming their economies and ensuring that investment flows into Africa.
Let us move forward with renewed partnerships and new investments.
Let us work together to secure growth, jobs and shared prosperity for all Africans.
I now invite Chancellor Merz to deliver his remarks.
I thank you.
Issued by: The Presidency
Pretoria