Africa and Rwanda are ready and open for productive investment and trade which will serve as a pathway to prosperity and stability, President Paul Kagame has said.

Kagame was speaking at the G20 Compact with Africa Summit hosted by German Chancellor Angela Merkel. 

The summit focused on increasing investment in Africa and addressing the COVID-19 pandemic.

Kagame said that Rwanda has been seeing an increase in connections to German business and investment adding that more work can be done to convert the solid political will into tangible results on the ground.

"The central message is that Africa is open for business and that productive investment and trade is the pathway to prosperity and stability. In Rwanda, we have seen an increase in connections to German business and investment. We welcome this and wish to see even more. The challenge before us is to convert the solid political will into even more tangible results on the ground,” he said.

This year’s Compact with Africa Summit included a G20 Investment Summit on "Framework Conditions for Business and Investment”, as well as a session on "the G20 Compact with Africa amid the Covid-19 Pandemic”.

The summit was launched in 2017 under the German G20 Presidency to promote private investment on the African continent.

The summit brought together reform-minded African countries, international organizations and bilateral partners from G20 and beyond to coordinate country-specific reform agendas, support respective policy measures and advertise investment opportunities to private investors.

African Countries that feature in the summit include Benin, Burkina Faso, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.

South Africa, which is a member of the G20, co-chairs the initiative alongside Germany.