Aker Energy sponsors the G20 Compact with Africa Summit

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(Berlin/Fornebu) German Chancellor Angela Merkel and President Nana Addo Dankwa Akufo-Addo held bilateral talks for proposed investments in Ghana under the Aker Energy-sponsored G20 Compact with Africa Summit in Berlin this week. The Chancellor also announced additional EUR 1 billion to fund investments from European small and medium-sized enterprises (SMEs) in Africa.

It’s all about equal partnerships

Chancellor Merkel

"The ambition of Compact with Africa is to not just talk about Africa, but with it. Compact with Africa follows a new strategy. It’s all about equal and long-lasting partnerships. This will strengthen Africa as an investment opportunity and provide the basis for solid trade relations between Europa and Africa,” Merkel stated as she opened the Berlin Summit and addressed the 12 heads of state present at the event, including President Nana Addo Dankwa Akufo-Addo of Ghana.

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Aker Energy sponsors the G20 Compact with Africa Summit. Other G20 Compact with Africa Summit sponsors include Siemens, Deutsche Bank and Volkswagen.

EUR 1 billion

President Akufo-Addo praised Chancellor Merkel’s initiatives and held bilateral talks for proposed investments in Ghana with the Chancellor, according to the official governmental news site.

"Together, we want to send a clear signal today: the desire to have a good and profitable relationship between Africa and Europe," Merkel stated as she announced a EUR 1 billion initiative to support investments from European SMEs in Africa.

Aker Energy sponsors CwA

The G20 Compact with Africa (CwA) was initiated under the German G20 Presidency to promote private investment in Africa, including in infrastructure. The CwA’s primary objective is to increase attractiveness of private investment through substantial improvements of the macro, business and financing frameworks. Since its launch in 2017, the CwA has sparked great interest and includes Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia.

“Aker Energy is proud to sponsor the G20 Summit, as Compact with Africa is an important tool for the cooperation between Europa and Africa. With our deep commitments to Ghana, we are pleased to support these substantial initiatives,” says Paal Kirkeby Ødegaard, Chief HR Officer of Aker Energy.

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Chief HR officer Paal Kirkeby Ødegaard discussing business framework with Sileshi Bekele Awulachew, Minister, Mamadi Camara, Minister, Uzziel Ndagijimana, Minister, and Markus Thill.

Ødegaard participated in the panel discussion on business framework in Africa and emphasised the solid business environment in Ghana. He also reiterated that Aker Energy sees a strong exploration potential in Ghana and has strong belief in the potential for future development and production projects along the Ghanaian coast.

“Aker Energy is also committed to being a partner in raising the capacity of the Ghanaian oil and gas sector, as can be seen in our commitment to the Accelerated Oil and Gas Capacity programme. The bottom line is that we aim to go beyond local content,” Ødegaard adds.