Issues of the future – Africa
Africa harbours great potential: abundant resources, cultural diversity, entrepreneurial spirit and innovation capacity. Around half of the 20 fastest growing economies can be found in Africa. The continent will have the largest working-age population in the world by 2035. On behalf of the Federal Ministry for Economic Cooperation and Development (BMZ), KfW Development Bank has been supporting reforms, democratic processes and economic growth wherever possible.
In Tunisia, 85 per cent of the labour force works in small and medium-sized enterprises. Since these companies rarely receive loans from Tunisian banks, AfricInvest, an investment company from Tunis, provides help. KfW has contributed to their funds.
The example of Radhia Kamoun Megdiche shows how important this support is. Thanks to the financing, she was able to make her mother’s dream come true. From the very outset, Gourmandise has been a world of indulgence, with high-quality biscuits and cakes created by the ambitious founder Souad Kamoun. The fact that many years later it became the most important pastry chain in Tunisia has a lot to do with AfricInvest.
„In its cooperation with Africa, the German Federal Government is increasingly focusing on what are known as the “reform champions” who practice advanced good governance. We see this as part of our mission to further strengthen our commitment in these countries, thereby promoting stable development and partnerships. In general, we want to contribute to further developing Africa’s immense economic potential, thereby alleviating poverty."
Dr Joachim Nagel, member of KfW Group’s Executive Board