AfriCaribbean Trade and Investment Forum set to strengthen Africa-CARICOM linkages
See below the release from AfreximBank on the upcoming ACTIF24 in The Bahamas:
Excitement mounts as The Bahamas prepares to host the Afreximbank Annual Meetings (AAM) and the AfriCaribbean Trade and Investment Forum (ACTIF) from 12 – 14 June 2024 in The Bahamas.
Themed "Owning Our Destiny: Economic Prosperity on the Platform of Global Africa," ACTIF2024 is set to forge significant pathways for economic prosperity between Africa and the Caribbean.
Other distinguished speakers will include Heads of State from seven CARICOM countries, former Prime Ministers, Ministers of Trade, Economic Development and Finance, Dr. Roger W Ferguson, Former Vice Chair of the Federal Reserve, USA, Prof. Andreas Klasen, Professor of International Business and Director of the Institute for Trade and Innovation at Offenburg, and many more.
Professor Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said: "We are witnessing shifts in the global economic landscape and the trade strategies of major economies, making it imperative for African and Caribbean nations to unite for mutual prosperity.
The Afreximbank Annual Meetings and AfriCaribbean Trade and Investment Forum in The Bahamas will serve as a strategic platform to enhance our economic bonds. These events indicate a vibrant assertion of our shared destiny. We are poised to harness the dynamic economic growth within our regions, enhancing our collective resilience and prosperity."
The event promises to be a pivotal platform for high-level discussions on economic development and regional integration.
Building on the successes of the inaugural AfriCaribbean Trade and Investment Forum held in Barbados in 2022 and the gathering last year in Guyana, this year’s Forum in The Bahamas will further elevate and expand upon the discussions and initiatives previously set in motion.
ACTIF2023, which focused on strengthening economic bonds and creating new investment opportunities, sets a precedent for meaningful collaboration between Africa and the CARICOM nations.
Afreximbank invites industry leaders, trade organisations and other stakeholders in the CARICOM region to participate and attend. Registration is now open at https://2024.afreximbankevents.com.
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 to effectively participate 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.
About the AfriCaribbean Trade and Investment Forum
The idea for ACTIF resulted from an official Afreximbank visit to Barbados in September 2021, which followed that month’s inaugural Africa/CARICOM Summit. During the visit, the Government of Barbados and Afreximbank identified the AfriCaribbean Trade and Investment Forum as a key strategic activity towards institutionalising the engagement between both regions’ private sectors to advance trade and investment relations.
The inaugural edition of the AfriCaribbean Trade and Investment Forum was held in Bridgetown,
Barbados, from 1 to 3 September 2022, the second edition was held in Georgetown, Guyana, from 30 – 31 October 2023, and the third edition is being held jointly with the 31st Afreximbank Annual Meetings in Nassau, The Bahamas, from 12 – 14 June 2024.
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