Corresponding to an invitation from African Export-Import Bank (AFREXIMBANK), the president of the Central African States Development Bank (BDEAC), Fortunato Ofa Mbo Nchama, led the delegation from the institution at the annual AFREXIMBANK annual meetings, which took place from 19th to 22nd June, in Moscow (Russia).
The various workshops organised on this occasion allowed the companies, regional experts and decision-makers to establish relationships, explore opportunities for commerce and investment, and develop significant commercial ties. Specifically, the various interested parties evaluated the current and growing interest in commerce, investment and other types of commercial relationships and strategies with Africa, expressed by powers in emerging markets, such as Russia, China and Brazil. They appreciated how these new relationships are helping to gradually reduce the importance regarding traditional partners for the development agenda in Africa.
Speaking within the framework of the exchanges organised on the topic “Cooperation in questions of investment between Russia and Africa: experiences and perspectives”, the BDEAC president recalled that Central Africa is the region with the greatest wealth of natural resources on the continent. These include 1,773,000 m� of renewable water resources, 261 million hectares of cultivable land, 20 billion barrels of oil reserves, 600 cubic metres of gas reserves, a proven hydroelectric potential of 150 gigawatts, 3.600 km of coast, and an exclusive economic zone of approximately 1,230,000 km�.
Paradoxically, it is also the least developed region on the continent in terms of infrastructure and industrialisation. Based on this observation, the BDEAC president indicated that Central Africa is today the region that offers the most opportunities for investment to entrepreneurs, given the delay in the mechanisms for the plans.
He also recalled that all the countries in Central Africa have adopted laws to incentivise and protect investors, which allows entrepreneurs to obtain a financial performance that they could not have in any other location. The BDEAC president closed his comments by inviting the Russian Federation and private Russian investors to join with the bank, the financing institution for development in Central Africa, and set up mutually beneficial associations for investment in the centre of Africa.
Source: Equatorial Guinea Press and Information Office