Afreximbank Extends $12m Credit Facility to São Tomé and Príncipe

In conjunction with the São Tomé and Príncipe Investment Forum, the African Export-Import Bank (Afreximbank) has extended a significant credit facility of US$ 12 million to the Government of São Tomé and Príncipe, channelled through the Central Bank of São Tomé and Príncipe.

This financial support, which was announced in a press statement released on Tuesday, is aimed at bolstering the country’s development efforts and fostering investment opportunities.

Also, Afreximbank, in partnership with the Government of São Tomé and Príncipe and the Promotion, Commerce and Investment Agency (APCI), is set to host the “São Tomé and Príncipe Investment Forum” from September 17-19 at Hotel Praia, São Tomé.

The forum aims to promote trade, investment, and financing opportunities in the country and is expected to attract around 150 participants.

The event will feature business-to-business engagements, presentations on joint ventures, public-private partnerships, and private sector business deals. It will provide a platform for potential investors from Africa and the diaspora to interact directly with São Tomé and Príncipe’s government and private sector.

The forum seeks to mobilise investment in critical sectors including tourism, agriculture, fisheries, infrastructure, logistics, and energy, and enhance the country’s ability to produce value-added goods and services for trade under the African Continental Free Trade Agreement (AfCFTA).

H.E. Patrice Emery Trovoada, Prime Minister and Head of the Government of São Tomé and Príncipe, stated, “This investment forum is a pivotal step in unlocking our nation’s economic potential and fostering connections with the global business community. By attracting strategic investments and partnerships, we are positioning our country as a key player in Africa’s trade landscape, ready to leverage opportunities under the African Continental Free Trade Agreement.”

Mr. Eric Monchu Intong, Acting Group Managing Director, Client Relations at Afreximbank, added, “Afreximbank is committed to empowering São Tomé and Príncipe through its programmes and facilities needed to foster sustainable growth. This forum therefore offers a unique opportunity for global and African investors to explore investment opportunities in one of Africa’s most promising and strategically located markets, endowed with high return investment-friendly sectors.”

The forum builds on previous initiatives including a 2023 roadshow by Afreximbank in São Tomé and Príncipe and a State Visit by Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank.

Senior government officials from São Tomé and Príncipe, investors, financial institutions, and representatives from private sector organisations and the wider business community from across Africa will be in attendance, reinforcing the forum’s role in fostering economic growth and trade enhancement.

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