African Export-Import Bank (Afreximbank) and Câmara de Comércio de Sotavento have announced a strategic partnership to host the 2024 Trade and Business Roadshow in Praia, Cape Verde. This landmark event, scheduled for July 29 – 30, 2024, is aimed at diversifying, fostering and supporting the economic growth in Cape Verde.
The Roadshow, themed “Catalysing Local Manufacturing and Export Growth under the Implementation of the African Continental Free Trade Area Agreement (AfCFTA),” aims to identify and promote bankable transactions across various sectors beyond tourism. This initiative seeks to diversify the economy, boost intra-African trade, attract foreign direct investments, and foster effective partnerships for sustainable growth under the AfCFTA.
As the continent’s leading multilateral financial institution devoted to financing and promoting intra- and extra-African trade, Afreximbank’s involvement is set to drive crucial conversations in the business and trade sectors of Cape Verde’s economy.
Mr. Eric Monchu Intong, Regional Chief Operating Officer, Anglophone West Africa at Afreximbank noted: “Afreximbank’s partnership with Câmara de Comércio de Sotavento in hosting this Roadshow in Praia is a testament of the long-standing and strategic relationship between the Bank and the Government of Cabo Verde. It presents an opportunity to support diverse sectors of the economy through knowledge sharing on our mandate, programmes, and facilities, which provide innovative financing solutions to drive up Africa’s share of global trade.”
“We are excited about this opportunity to strengthen alliances for our shared destiny, prosperity and the economic emancipation of our continent. We are particularly pleased with its multisectoral approach as we understand that one organisation or one sector alone cannot drive the level of sustainable growth the continent requires,” Mr. Intong added.
“We are eager to enhance partnerships that will drive our collective future towards growth and advancement in Cabo Verde. Our collaboration with Afreximbank underscores the commitment to promoting sustainable development across our continent. Together, we are forging new pathways that will contribute to the economic empowerment of Cabo Verde and beyond,” noted Mr. Marcos Rodrigues, President, Câmara de Comércio de Sotavento.
Afreximbank has been at the forefront of driving key economic development initiatives across Africa – such as hosting the Intra-African Trade Fair (IATF2023) that attracted deals and transactions valued at US$43.8 billion, African Medical Centre of Excellence (AMCE), a 500-bed quaternary hospital under construction in Abuja, Nigeria to specialize on hematology, oncology, cardiology and general medicine (including a nursing and medical school).
Other initiatives include, the AfCFTA Adjustment Fund, the Afreximbank Africa Collaborative Transit Guarantee Scheme and the Afreximbank Africa Trade Centre, among others.