The FAGACE (African Guarantee and Economic Cooperation Fund), awarded this MAY 30, 2014 to the SOFITEL SIPOPO in Malabo the 1st Edition of the prize for African integration and economic cooperation during a ceremony attended by all the Equatorial Guinean Government, the diplomatic corps, economic operators and all the Vice Forces of the Equatorial Guinean Nation.
During his speech, the Director General of FAGACE, Mr. Henri-Marie DONDRA explained that Africa is today perceived as the continent of all promises to the point of being considered as the economic power of the future, due to its huge potential in various fields.
To support this dynamic, five (05) fundamental criteria were therefore retained by FAGACE to evaluate and distinguish the great African men every two (02) years. These criteria are: peace, African solidarity, leadership, social well-being, and above all economic growth.
Through this prize composed of a roll of honor and the Yennenga standard, it is an International Financial Institution which brings together 14 countries (Benin – Burkina – Cameroon – Central African Republic – Congo – Coast of Ivory – of Guinea Bissau – of Mali – of Mauritania – of Niger – of Rwanda – of Senegal – of Chad – of Togo) which recognizes the great merits and values of Great African Men.
The roll of honor to dedicate efforts for African integration and especially for economic renewal.
As for the stallion, legend has it that it symbolizes courage, temerity, bravery, combativeness, tenacity, nationalism.
For this first edition, the choice was made on the person of His Excellency President OBIANG NGUEMA MBASOGO, President of Equatorial Guinea in recognition of the economic renewal of Equatorial Guinea and for the efforts deployed to make his country a stable and prosperous.
In his speech, the President of the Republic of Equatorial Guinea then thanked the International Financial Institution for the distinction and presented the main actions undertaken in recent years for the emergence of Equatorial Guinea and its support for the development of the South-South cooperation. It is in this context that he announced his wish to see his country, Equatorial Guinea, very soon join the capital of FAGACE if the technical conditions are met.
The ceremony ended with a dinner during which Equatorial Guinean economic operators were able to discuss with FAGACE experts on the Fund’s intervention mechanisms for the benefit of economic actors: the bonus and the guarantee.
