Merkel: Germany to step up African investments

Berlin - Chancellor Angela Merkel called on Wednesday for German companies to play a greater role in Africa.

"Europe should not miss out on things at this point," Merkel said at a joint press conference with Ethiopian Prime Minister Hailemariam Desalegn, who also called on companies from Europe's biggest economy to step up their engagement in Africa.

The chancellor noted that Chinese investors have already carved out a strong presence in Africa, but she acknowledged that German companies needed a better business and legal environment to encourage them to invest in the region.

Desalegn pointed to the expansion of renewable sources of energy in his nation as an area that could attract German investors.