The Ministry of Finance has announced Hon. Abena Osei-Asare, Minister of State, is leading Ghana’s delegation to the 2024 Africa Export-Import Bank (Afreximbank) Annual General Meetings (AGM) and the 3rd African-Caribbean Trade and Investment Forum (ACTIF2024). These prestigious events are set to take place in Nassau, Bahamas, from June 12th to June 15th, 2024.
The Annual General Meetings (AGM), themed “Owning Our Destiny: Economic Prosperity on the Platform of Global Africa,” will convene over a thousand delegates. These include African and Caribbean leaders, senior government officials, policymakers, corporate and business leaders, bankers, entrepreneurs, academics, and other thought leaders from both African and non-African contexts.
“Currently, Ghana chairs the Shareholders and Advisory Group of Afreximbank. In this capacity, Honorable Osei-Asare will chair the shareholders’ meeting on Saturday, June 15th. Additionally, she will deliver the opening remarks at the AGM’s opening ceremony and for a plenary session focused on ‘Economic Transformation for Global Africa in a Polycrisis World.’ She will also engage in a high-level policy dialogue plenary session on ‘An Emergent Global Africa: A Platform for Sustainable Economic Transformation.”
The Ministry of Finance
The Ministry indicated that the Ghanaian delegation will participate in a variety of activities, including statutory and bilateral meetings, seminars, and plenary sessions, notably the AfriCaribbean Trade and Investment Forum.
Afreximbank’s support to Ghana’s public and private sectors is substantial, currently standing at $1.761 billion, with an additional $1.706 billion in transactions under consideration. Ghana, a founding member of Afreximbank, signed and ratified the agreement establishing the Bank at its inception. Through the Bank of Ghana, the country holds 3,645 Class “A” shares, representing 2.41% of Afreximbank’s total shareholding.
Afreximbank is a pan-African multilateral trade finance institution established in 1993 under the auspices of the African Development Bank (AfDB). Its primary aim is to finance and promote intra- and extra-African trade. The Bank is owned by African governments, the AfDB, other African multilateral finance institutions, as well as public and private investors from Africa and beyond. Afreximbank provides various forms of support, including trade and project finance, sovereign loans, syndicated loans, guarantees, and advisory services.
Ghana’s leadership in Afreximbank is significant. Hosting the 2023 Annual Meetings of the Bank was a major highlight, drawing approximately 3,000 delegates and celebrating the Bank’s 30th anniversary. This involvement underscores Ghana’s commitment to fostering African trade and economic integration.
Significance of ACTIF2024
For the first time, the AfriCaribbean Trade and Investment Forum (ACTIF2024) has been integrated into the Afreximbank Annual Meetings. This forum is a crucial platform for exploring new commercial and developmental opportunities across the African diaspora and the Caribbean. It aims to leverage the Global Africa concept to foster investment and development initiatives, with expectations of signing more than 25 deals and announcing new ventures.
As Honorable Osei-Asare and the Ghanaian delegation prepare to engage with global leaders, policymakers, and business executives, the focus will be on advancing Ghana’s economic interests and solidifying its role within the broader framework of African economic prosperity. The engagements at the AGM and ACTIF2024 will not only strengthen Ghana’s trade relationships but also provide an avenue for showcasing the country’s commitment to sustainable economic transformation on the global stage.
The Ministry of Finance, through its Public Relations Unit, indicated a commitment to keeping the public informed about Ghana’s active participation and the outcomes of these significant meetings. The delegation’s involvement underscores Ghana’s pivotal role in shaping the future of trade and investment within Africa and beyond.
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