Energy talks were the centre of discussion as Africa leaders gathered in Berlin, Germany for the G20 Investment Summit.
President William Ruto in a statement said they discussed how investment in renewable energy can transform Africa, the world and create jobs for millions of youths.
"Renewable energy is the only way to achieve Sustainable Development Goals (SDG 7) on universal access to clean, sustainable energy for all and lead the world out of the climate crisis," he said.
The Head of State emphasised that Africa is ready to create an enabling environment, enact policies and facilitate investments necessary to unlock resources to meet its own climate commitments and contribute meaningfully to decarbonization of the global economy.
"Africa has enough natural resources to underwrite a new chapter in clean energy for the continent and the world."
As a result, the German government pledged to invest Sh666 billion (4 billion euros) in African green energy projects until 2030.
According to AFP, German Chancellor Olaf Scholz said that countries in Africa should benefit more from their wealth of raw materials.
He did not mention any specific projects but said the materials used in green energy should be processed in the African nations they come from.
“This creates jobs and prosperity in these countries,” Scholz said. “And the German industry gets reliable suppliers," AFP stated.
Germany launched the G20 Compact with Africa (CwA) during its G20 Presidency in 2017.
G20 works closely in the CwA with reform-oriented African partners on shared goal-improving economic conditions in the CwA countries so that more foreign (private) investment flows into these countries.
CwA countries are supported in this by the World Bank, the International Monetary Fund (IMF) and the African Development Bank (AfDB).
Initially, there were a total of 12 Compact members which are Benin, Burkina Faso, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.
Democratic Republic of the Congo recently joined as the 13th member with other reform-oriented states showing their interest in joining it.
Angola, Kenya and Zambia will therefore be sitting at the table at the CwA Conference in Berlin.
