Your Excellency, Minister of Foreign Affairs,
Your Excellency, Minister of Finance,
Your Excellency, the Minister of the Economy, Planning and Regional Development,
Your Excellency the Minister of Mines, Industry and Technological Development,
Your Excellency, the Minister of Small and Medium-sized Enterprises, Social Economy and Handicrafts,
Your Excellency, the Minister of Territorial Administration and Decentralization,
Your Excellency, the Minister of Agriculture and Rural Development,
Excellencies, Ladies and Gentlemen Ambassadors, Heads of Diplomatic Missions and Representatives of International Organizations,
Honored guests,
Ladies and Gentlemen, in your ranks and capacities,
Allow me first of all to express my deep gratitude to His Excellency, Mr Paul BIYA, President of the Republic of Cameroon, for the constant support and multiform backing he has provided to the African Guarantee and Economic Cooperation Fund since Cameroon joined the Fund in 2006.
Your Excellency, Minister of External Relations,
Please convey our sincere thanks to the President of the Republic and all the members of his Government.
The distinguished presence and strong mobilization of the Cameroonian Government enhance the significance of this signing ceremony for the FAGACE headquarters agreement in Cameroon, and honors us in more ways than one.
This mobilization is eloquent testimony to the special interest Cameroon takes in FAGACE, with which it is engaged in a dynamic and fruitful partnership.
It is also a token of friendship and support for our institution and its work across the continent.
I would therefore like to take this opportunity, on behalf of the Board of Governors of the Fund and on my own behalf, to offer you our warmest congratulations for the constant efforts made by your Government to promote the economic and social influence of your beloved country in Africa and throughout the world.
I would also like to thank the Cameroonian authorities at various levels for the quality of the exchanges we had during the preparatory activities for this agreement.
Your Excellencies, Ladies and Gentlemen
Ladies and Gentlemen,
FAGACE is delighted to be able to support the Government of Cameroon in the implementation of its development programs, for which this ceremony marks the official start of activities.
I would like to remind you that FAGACE is perfectly in line with the new strategic orientation defined in Cameroon, as its mission is to contribute to the economic and social development of its member states, by participating in the financing of their development projects or by facilitating their realization through accompanying measures such as subsidizing or extending the duration of credits and loan guarantees.
At this point, I’d like to briefly introduce FAGACE.
The Fonds Africain de Garantie et de Coopération Economique (FAGACE) is an international financial institution specialized in promoting public and private investment. It was created on February 10, 1977 in Kigali at the OCAM Heads of State Conference, and is headquartered in Cotonou, Benin. Today, it comprises 14 countries: Benin – Burkina Faso – Cameroon – Central African Republic – Congo – Ivory Coast – Guinea Bissau – Mali – Mauritania – Niger – Rwanda – Senegal – Chad and Togo. Faced with the diversity of realities in member countries, and above all to better respond to the specific needs of governments and economic operators in the CEMAC zone, we embarked some years ago on a policy of decentralizing our activities, with the creation of a Regional Representation of the Fund in Central Africa, based in Cameroon. Cameroon’s economic and demographic weight, as well as its strategic geographical position at the heart of the CEMAC zone, make it the natural locomotive in Central Africa.
Your Excellencies, Ladies and Gentlemen
Ladies and Gentlemen,
As you know, FAGACE has been working alongside Cameroon’s economic operators for almost 10 years, supporting numerous development projects.
As a result, the Fund has mobilized more than 73 billion FCFA for Cameroonian development projects with partners such as BIOPHARMA in the pharmaceutical industry, SPM in agriculture, Petrolex in the energy sector, to name but a few…
These results are appreciable, but there is still plenty of room for improvement in cooperation between the Republic of Cameroon and FAGACE, given the dynamism of the players involved and the significant market potential.
I therefore remain convinced that this agreement will not only accelerate FAGACE’s interventions in Cameroon, but will also help to strengthen relations with development players, so that we can make our contribution to the edification of the country and the entire sub-region.
It is therefore with good reason that I am pleased to launch a vibrant appeal to private and public economic operators, as well as to financial players in Cameroon and CEMAC member countries, so that together we can develop a synergy of actions to finance development projects in Central Africa. The regional market must not only be competitive, but also highly integrated.
You can count on us to support you in implementing initiatives for sustainable and inclusive growth.
Your Excellencies, Ladies and Gentlemen
Ladies and Gentlemen,
It is with these words that I would like to conclude my remarks, by renewing on my own behalf and on behalf of the delegation accompanying me, our heartfelt thanks and sincere gratitude to the Authorities and to all the technical teams who have worked to make this project a reality.
Long live regional cooperation,
Long live cooperation between FAGACE and the Republic of Cameroon.
Thank you for your kind attention.
