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By 1890 most of the top-shelf prizes were taken, but not everything that had been colonized by Europeans by 1914 had been taken. If the Kaiser and Caprivi had been committed to coloring more of the world map in German colors, they could have done so. The only change required is the Kaiser being as excited wearing a safari pith helmet as an Admiral's cap.
The main areas left would have been pieces of the African Sahara and Sahel that were still under independent Caliphates or completely tribal that France ended up colonizing and portions of the East Indies (some of eastern Borneo-Kalimantan, a majority Celebes Sulawesi, the bird's nest peninsula of Papua New Guinea and probably several minor islands) that the Dutch didn't manage to actually conquer until the 1890-1922 period.