NAIROBI, Kenya, Dec 17 – Equity Group has signed a Memorandum of Understanding (MOU) with ODDO BHF, a German financial institution, to promote cross-continental trade and business collaboration.
The agreement, formalized during the German-Africa Business Summit in Nairobi, is designed to bridge the gap between European and African businesses, facilitating mutual growth and market expansion.
Speaking at the summit, Equity CEO James Mwangi emphasized the strategic importance of the partnership, which he believes will help unlock Africa’s immense potential while also providing European companies with new expansion opportunities.
“We are looking for a strategic partnership that can act as a bridge between Africa and Europe to enable businesses from both continents to work together and expand each other’s opportunities,” said Mwangi.
He pointed out that while Africa is rich in human capital, arable land, renewable energy potential, and strategic minerals, Europe offers valuable entrepreneurial capital, technological expertise, and advanced human skills.
This collaboration, according to Mwangi, will align the strengths of both institutions, creating a powerful platform for transforming Africa’s perceived potential into tangible products and services that will drive development across the continent.
Florian Witt, ODDO BHF’s Head of Corporate Banking, reflected on the company’s commitment to the partnership and shared his confidence in the African market, noting that the continent is far more stable and profitable than often portrayed.
“We believe in Africa, where we have operated for decades. Contrary to popular belief, the risks of doing business in Africa are lower than perceived,” he said.
ODDO highlighted four key factors—demography, decarbonization, digitization, and derisking—that make Africa a compelling investment destination.
Witt underscored the continent’s vast human capital and its potential to drive economic growth, adding that Europe’s capital-rich environment is perfectly poised to support value chain expansions, particularly in emerging markets like the Democratic Republic of Congo (DRC).
Witt pointed out that African countries, particularly Kenya, have developed innovative telecom payment systems that are being adopted in Europe.
This technological leap, he argued, serves as a valuable learning opportunity for European financial institutions.
The partnership follows the recent launch of a German Desk at Equity Group in collaboration with the German Development Finance Institution (DEG), further positioning Equity as a key player in connecting African and European markets.
