Afreximbank And Government Of São Tomé And Príncipe To Host Investment Forum Aimed At Promoting Investment And Enhancing Trade

(MENAFN- African Press Organization)

With an eye on promoting trade, investment and financing opportunities in São Tomé and Príncipe, African Export-Import bank (Afreximbank) ( ), in partnership with the government and the Promotion, Commerce and Investment Agency (APCI) of São Tomé and Príncipe are hosting the“ São Tomé and Príncipe Investment Forum.” The forum is expected to attract about 150 participants and will feature key investment opportunities and projects across the country.

Scheduled for September 17-19 at Hotel Praia, São Tomé the event will facilitate B2B engagements, present joint ventures, offer public-private-partnerships and allow for private sector business deals to be concluded.

It will also enable potential investors from the African continent as well as those from the diaspora to have direct engagements with the Government of São Tomé and Príncipe and the country's private sector. The Investment Forum will assist São Tomé and Príncipe to mobilise investment in key sectors such as tourism, agriculture, fisheries, infrastructure, logisticsand energy, and boost its capacity to produce value added goods and services that can be traded under the African Continental Free Trade Agreement (AfCFTA).

Among those addressing the forum will be H.E. Patrice Emery Trovoada, Prime Minister and Head of the Government of São Tomé and Príncipe, and Mr. Eric Monchu Intong, Acting Group Managing Director, Client Relations, Afreximbank.

Other participants will include senior government officials from São Tomé and Príncipe, investors, financial institutions, representatives of private sector organisations and the business community from the rest of Africa.

H.E. Prime Minister Patrice Emery Trovoada commented: “This investment forum is a pivotal step in unlocking our nation's economic potential and fostering connections with the global business community. By attracting strategic investments and partnerships, we are positioning our country as a key player in Africa's trade landscape, ready to leverage opportunities under the African Continental Free Trade Agreement.”

Mr. Eric Monchu Intong, Acting Group Managing Director, Client Relations, Afreximbank remarked:“Afreximbank is committed to empowering São Tomé and Príncipe through its programmes and facilities needed to foster sustainable growth. This forum therefore offers a unique opportunity for global and African investors to explore investment opportunities in one of Africa's most promising and strategically located markets, endowed with high return investment-friendly sectors.”

The forum follows a roadshow organised by Afreximbank in São Tomé and Príncipe in 2023 and a State Visit to the country by Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, where the Bank agreed to partner with the government in promoting investments.

The Bank subsequently extended a credit facility of US$ 12 million to the Government, via the Central Bank of São Tomé and Príncipe, and also agreed to provide technical assistance and capacity building to the country.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank's total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.

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