FAGACE (Fonds Africain de Garantie et de Coopération Economique), awarded this MAY 30, 2014 at the SOFITEL SIPOPO in Malabo the 1st Edition of the African Integration and Economic Cooperation Prize during a ceremony attended by the entire Equato-Guinean Government, the diplomatic corps, economic operators and all the Forces vices of the Equato-Guinean Nation.
In his speech, FAGACE Managing Director Henri-Marie DONDRA explained that Africa is today perceived as the continent of promise, to the point of being considered as the economic powerhouse of the future, due to its enormous potential in various fields.
To support this dynamic, five (05) fundamental criteria have been retained by FAGACE to evaluate and distinguish great African men every two (02) years. These criteria are: peace, African solidarity, leadership, social well-being and, above all, economic growth.
Through this award, comprising a Roll of Honor and the Yennenga Standard, an International Financial Institution representing 14 countries (Benin – Burkina Faso – Cameroon – Central African Republic – Chad – Congo – Côte d’Ivoire – Guinea-Bissau – Mali – Mauritania – Niger – Rwanda – Senegal – Togo) recognizes the great merits and values of Great African Men.
The Roll of Honour is dedicated to African integration and, above all, to economic renewal.
As for the stallion, legend has it that it symbolizes courage, temerity, bravery, fighting spirit, tenacity and nationalism.
For this first edition, His Excellency President OBIANG NGUEMA MBASOGO, President of Equatorial Guinea, was chosen in recognition of Equatorial Guinea’s economic revival and the efforts made to make his country a stable and prosperous nation.
In his speech, the President of the Republic of Equatorial Guinea thanked the international financial institution for the distinction, and outlined the main actions undertaken in recent years for the emergence of Equatorial Guinea and its support for the development of South-South cooperation. It is in this context that he announced his wish to see his country, Equatorial Guinea, join the capital of FAGACE very soon, if the technical conditions are met.
The ceremony ended with a dinner during which Equato-Guinean economic operators were able to exchange views with FAGACE experts on the Fund’s intervention mechanisms for the benefit of economic players: subsidies and guarantees.
