When people are singing and dancing on the 38th floor of the Omniturm in the centre of Frankfurt's financial district shortly after midday, it's time for Africa Day again. On 18 June 2024, the international commercial law firm Hogan Lovells organised its annual Africa Summit and once again invited many interesting guests. The law firm, which also has a strong presence on the southern continent, aims to draw the attention of German companies to the opportunities available in this huge market.
At the beginning of the event, Pumela Salela from Invest Global not only encouraged people to sing and dance, but also used her keynote presentation to set the mood for the growth prospects on the continent, particularly in sub-Saharan Africa.
Hydrogen fever is spreading in Africa!
Renewable energy generation offers some of the greatest potential. Foreign investors are increasingly focussing on the topic of "green hydrogen". This raises the question: Is hydrogen fever a new pandemic or an opportunity for the continent?
Africa has so much potential for renewable energy from sun, wind and water that it could supply the whole world with green hydrogen, says Kwame Bekoe from Zero. On the one hand, this is an exciting field for investors, because the industrialised world's need for climate-neutral energy is enormous ... on the other hand, the question arises as to whether the needs of the people in Africa are also being taken into account behind the agenda of the industrialised nations.
One thing is clear, a green hydrogen economy requires the development of an enormous infrastructure and corresponding capital. Africa can benefit from such investments. But hopefully not just a few.
We would like to thank Hogan Lovells for organising this interesting exchange, for the many interesting insights and for ending the event with a view of the Frankfurt skyline from the 42nd floor.
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