A Visit to the Bundestag

Erick Yong presents GreenTec at the “More Jobs for Africa – What can Politics Contribute?” Roundtable at the Deutscher Bundestag (German Parliament)

Berlin (Germany), April 2018. This week, GreenTec Capital CEO Erick Yong was invited  to speak at the Deutscher Bundestag (German Parliament) at an ‘Africa’s Economy in Focus’ Roundtable on the topic of  ‘More Jobs for Africa – What can Politics Contribute?’.  This event was organized by the Deutsche Africa Stiftung E.V. (German Africa Foundation) and the Association of German Chambers of Commerce and Industry (DIHK) and was held  on Tuesday, April 17th.

Erick was invited to speak at the high-level roundtable to present how GreenTec’s  investment strategy and start-up development lead to job creation  and sustainable development in Africa and propose concrete policies and actions to the German government regarding their African policy objectives. The roundtable focused on what politics, and by extension politicians, could do to contribute to job creation and sustainable development in Africa. In context of both German and EU initiatives such as the Marshall Plan for Africa, the Compact with Africa, and AU/EU Summit in November 2017, the discussions centered on how to address issues of unemployment and economic migration in Africa. It is projected that more than 20 million youth will annually join the labor market, but Africa is only projected to create 100 million jobs by 2030. In context of these challenges and policy goals, GreenTec’s model and experience are particularly relevant as start-ups themselves are not employment and economic drivers until those ventures become successful.

The roundtable included introductory remarks by Volkmar Klein, Bundestag Member and Development Politics Spokesman for the CSU-CDU Parliament Faction and Dr. Maria Flachsbarth, Parliamentary State Secretary of the Federal Ministry for Economic Cooperation and Development (BMZ). The core of Erick’s remarks focused on how GreenTec’s investment decisions and strategy are based upon the unique opportunity presents in developing the value-added services market in Africa. The time is ripe to support young African entrepreneurs and to support them in creating local value through knowledge and technology transfer. Here, GreenTec’s value addition creates opportunities for investors to benefit from this new added-value market in Africa.

Erick was joined by Dr. Reingold Festge, Board Member of the German Association of Mechnical and Plant Engineering (VDMA) and Dr. Reiner Klingholz, Director of the Berlin Institute for Population and Development. The discussions were moderated by Indo Badoreck, General Secretary of the Deutsche Afrika Stiftung (German Afrika Foundation).

Tom Festerling and Erick Yong at the Deutscher Bundestag
GreenTec's Thomas Festerling and Erick Yong at the Deutscher Bundestag