German president says companies should take more interest in Africa

German President Frank-Walter Steinmeier has called on German companies to show more interest in investing in African countries.

“I believe that German business has every reason to look at other markets, especially markets in Africa,” Steinmeier said Thursday during his state visit to Zambia, the final leg of his trip to the continent.

That country, for example, offers relatively favourable investment conditions, he said.

“We have a very stable political landscape that has also learned to deal with changes in political leadership,” Steinmeier said of Zambia.

In addition, he said, Zambia is in the process of strengthening its economy by drawing higher-value investments to the country in addition to deals with foreign companies to exploit natural resources.

“It is now important that European companies, including German companies, get to know these market conditions, learn to appreciate them and invest,” Steinmeier said.

Meanwhile, Steinmeier also learned about the consequences of climate change on the Zambezi River, which causes the level of the river to drop so much in the dry season that it endangers the reliable supply of water to the region.

Before arriving in Zambia, Steinmeier had visited Tanzania.