German Economist Calls Morocco ‘Major Actor’, ‘Privileged’ Partner for Germany

“Morocco stands out among the major actors in African investment, with leading investors on the continent. The country has substantial capital to support a variety of investment initiatives across Africa,” Kannengiesser told MAP, on the sidelines of the 17th German-African Energy Forum, from 15-16 May in Hamburg. According to him, this foundation is reinforced with a reservoir of diverse competence, establishing an important asset for economic development in the region.

He further stressed the importance of capitalizing on the favorable natural conditions present in countries like Morocco and other African nations to stimulate renewable energy production. Morocco benefits from extremely appropriate conditions for green Hydrogen production, he highlighted.

“Morocco offers significant potential to become a major player in this field as one of the countries we are focusing on on the African continent,” he added.

“Cooperation between Morocco and Germany in politics and energy extends to multiple projects, whether focusing on developing legislation to help achieve renewable energy goals, or on financial support. This collaboration is characterized by its intensity and durability,” noted Kannengiesser.

Adding that Morocco is positioned as one of the most attractive destinations for German businesses, recalling, in this regard, the German government’s decision to improve public credit conditions of several African countries, including Morocco. “Both Germany and Morocco could profit from this cooperation by strengthening their respective economies and promoting sustainable growth,” he concluded.

Morocco is a “major actor” and “privileged” partner for Germany in matters of renewable energy and energy transition, highlighted German economist and Chief Executive Officer of the German-African Business Association Afrika-Verein, Christopher Kannengiesser.
17 mai 2024
Hamburg (Germany)