Guyana To Host Second AfriCaribbean Trade and Investment Forum 30-31 October 2023

Foreign Affairs and International Cooperation Minister, Hugh Todd

The second AfriCaribbean Trade and Investment Forum (ACTIF23) will be hosted in Georgetown, Guyana, from 30 to 31 October 2023, African Export-Import Bank (Afreximbank) and Government of Guyana (GoG) announced today.

Organised under the overarching theme “Creating a Shared Prosperous Future”, and convened by Afreximbank and the GoG, ACTIF23 will focus on consolidating commercial collaboration between the Caribbean region and Africa, for increased inter-regional trade and investment; building on the successes of the inaugural edition that was held in Barbados, in September 2022.

Commenting on the announcement of ACTIF23, Hon. Hugh Hilton Todd, Minister of Foreign Affairs and International Cooperation, Guyana underscored that “Guyana looks forward to hosting the second AfriCaribbean Trade and Investment Forum. We are keen to actively harness the potential of our economic relations as we build on the historic ties between Africa and the Caribbean.”

“We are excited to announce the second AfriCaribbean Trade and Investment Forum,” said Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank. “Going by the impressive gains we have recorded in less than one year since ACTIF2022, we have every reason to look forward to a further deepening of commercial relationships between Africa and the Caribbean when we meet in Georgetown, Guyana. We are exceedingly grateful to the Government of Guyana for agreeing to host this important bridge-building Forum”.

The AfriCaribbean Trade and Investment Forum was introduced in 2022 to enhance the growth of trade and investment between Africa and the Caribbean, including promoting airlinks, tourism, technology transfer, financial stability, food security, industrialization and cultural ties. The inaugural event welcomed over 1,267 delegates from 108 countries, including participants from 50 African countries, 13 Caribbean countries, and regions as far away as Oceania.

There has been growing commercial cooperation between Africa and CARICOM supported by Afreximbank. Eleven CARICOM member countries are now participating States in the Bank and the Bank’s Board approved a limit of USD3 billion for Caribbean economies to enhance trade and investment opportunities between the two regions. The bank is launching its representative office in Bridgetown, Barbados; and providing technical assistance towards the establishment of the Caricom Export-Import Bank, and the deployment of the Pan African Payment and Settlement System in the Caribbean.

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 2022, Afreximbank’s total assets and guarantees stood at over US$31 billion, and its shareholder funds amounted to US$5.2 billion. The Bank disbursed more than US$86 billion between 2016 and 2022. 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”).

For more information, visit: www.afreximbank.com