“Africa is like Asia 20 years ago”

Christopher Townsend

The Allianz Board of Management is convinced that Africa will develop very positively in the long term.

(Photo: Alliance)

Munich A few days after the controversial final declaration of the world climate conference COP27, the alliance spoke up with its own proposals on the subject of sustainability. The Munich-based Dax group wants to intensify its commitment to the sustainable restructuring of the economy in Africa, among other places.

“If I compare it with my long professional years in Asia, then Africa is like Asia 20 years ago,” Allianz board member Christopher Townsend told Handelsblatt. The market leaders in individual sectors gained their largest current market share there very early on. The African market is still small for Allianz, but Townsend is convinced of the very positive long-term development.

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