Essential Afro-Latino/ Caribbean Current Events

[Yehuda]

Brazil and Colombia sign agreement against discrimination

The agreement was signed on the occasion of the International Afro-Latin American, Afro-Caribbean and Diaspora Women's Day

© Luna Costa/Ascom

Published on July 26, 2023 — 14:25 by Daniella Almeida

The Minister of Racial Equality of Brazil, Anielle Franco, and the Vice President of Colombia and Minister of Equality and Equity, Francia Márquez, signed this Tuesday (25), in Bogotá (Colombia), a memorandum of understanding to combat racism and promote racial equality in Latin America. Colombian President Gustavo Petro also attended the ceremony.

The memorandum takes effect immediately and will be valid for five years. It is part of the celebrations of the International Afro-Latin American, Afro-Caribbean and Diaspora Women's Day, which is commemorated on July 25.

The purpose of this agreement is to promote the exchange of experiences in combating racism and promoting racial equality in the region. The cooperation will also encompass academic and scientific collaboration around these issues, as well as policies directed at traditional peoples.

Brazil and Colombia contemplate a work agenda that includes dialogues and dissemination of knowledge about the history of Afro-descendant populations in Latin America and the Caribbean. Notably, emphasis will be placed on historical and cultural ties, including those of traditional communities of African descent.

In addition to educational systems, affirmative action and ethnic-racial diversity, the bilateral exchanges will address the challenges posed by new technologies and changes in international relations.

Seminars, training programs and exchanges between researchers, students, teachers and representatives of civil society who actively promote educational, social and cultural rights, fight against discrimination and foster racial equality will also form part of the agreement.

Anielle Franco stressed the importance of this historic moment and thanked Vice President Francia Márquez for joining this initiative. Franco highlighted the strength, rebellion, talent and commitment that Márquez embodies. "Today, as ministers, we stand together, two black women, signing this momentous memorandum hand-in-hand, alongside a Brazilian delegation of black members of parliament. This marks the dawn of a renewed democracy in our country: we will not back down or take a step back".

Franco also expressed his solidarity with Vice President Márquez, known for her activism in defense of black women and environmental causes. "Stay strong, because we are by your side, united in Brazil, Colombia and throughout the Latin American diaspora", said the Brazilian minister.

Brazil and Colombia sign agreement against discrimination

 

[Yehuda]

Ministry of Education and Ministry of Racial Equality launch South–South student exchange program

The initiative is a partnership between the Ministry of Education — through the Secretariat of Continuing Education, Literacy, Diversity and Inclusion (Secadi) and the Coordination for the Improvement of Higher Education Personnel (Capes) — with the Ministry of Racial Equality to strengthen anti-racist education

Published on August 1, 2023 5:30 pm | Updated on August 1, 2023 7:38 pm

The Ministry of Racial Equality (MIR), in partnership with the Ministry of Education (MEC) and the Coordination for the Improvement of Higher Education Personnel, launched the “Caminhos Amefricanos: South–South Exchange Program”. The initiative aims to promote exchanges to strengthen anti-racist education, based on the exchange of experiences, knowledge and public policies in countries of the Global South for teachers and undergraduate students. The announcement ceremony took place on Monday, July 31, at the Federal University of Maranhão (UFMA), in São Luís, Maranhão.

The Ministry of Education was represented by Lucimar Dias — director of Ethnic-Racial Education Policies and Quilombola School Education — from the Secretariat of Continuing Education, Literacy, Diversity and Inclusion. Also participating in the launch were the Minister of Racial Equality, Anielle Franco, the Dean of UFMA, Natalino Salgado Filho, the Ministry of Racial Equality staff, as well as state and federal members of parliament.

In her speech, Lucimar Dias considered the moment exciting and of great satisfaction for being a black woman, who studied in a public school, and being able to represent the Ministry of Education in the launch of the Caminhos Amefricanos Program, the first official partnership of the Ministry of Education with the Ministry of Racial Equality during this administration. She also recalled that the Minister of Education, Camilo Santana, considers the partnership between the two ministries fundamental for the development of racial equity policies in the educational field. “There's a lot to do. Minister Camilo Santana and, certainly, President Lula are aware of the need to establish a solid policy that guarantees education for ethnic-racial relations in all Brazilian schools, as well as having teachers with adequate training and a protocol of preventive and reactive action in situations of discrimination in schools”, she pointed out.

Minister Anielle Franco began her speech talking about the power of education and racial literacy. She also highlighted that the program is a strategy to face racism and boost actions for racial equality. “After dark years, we are committed to brightening the lives of our population, especially the most vulnerable in terms of education. This program will encourage the exchange of knowledge about public policies in countries of the Global South, strengthening the ethnic-racial equity agenda and building an anti-racist education”, declared the minister.

Anielle also said that the program will produce and socialize knowledge built in cooperation with African, Latin American and Caribbean countries, in addition to dialoguing with countries of the African diaspora for the understanding and socialization of technologies used to combat and overcome racism and public policies of inclusion of African history and culture. “Racial equality is not a subject for a portfolio, it is for the whole of Brazil. It is not just a government agenda: it is a state agenda”, she concluded.

Natalino Filho, dean of UFMA, considered the ceremony an initiative worthy of applause, especially as it takes place at UFMA, a pioneer in the implementation of a degree in African and Afro-Brazilian studies since 2015, providing training for professors to teach in the fields of History, Philosophy, Sociology and Geography. “This moment is symbolic and significant, as it materializes as an important initiative to value ethnic-racial diversity and combat racism and discrimination, and which puts into perspective another form of historical reparation”, he said.

Caminhos Amefricanos — The Program aims to promote short-term exchanges for undergraduate students and teachers of basic education in African, Latin American and Caribbean countries. The countries covered in the first year of the program will be Cabo Verde, Colombia and Mozambique.

Within the scope of the Ministry of Education, it is up to Secadi's Directorate of Ethnic-racial Education Policies and Quilombola School Education to organize the training course for students and teachers selected to participate in the program. It is also the responsibility of the Ministry of Education, through Secadi, to establish partnerships with higher education institutions for the training, monitoring and assessment of Brazilian and foreign exchange students.

Ministry of Education and Ministry of Racial Equality launch South–South student exchange program

 

[Yehuda]

Caricom pleased with African talks

Jul 25, 2023 12:00 am

BARNETT: Caricom and Africa have made progress in trade and investment relations with strong support from Afreximbank

GEORGETOWN, Guyana (CMC) — The Caribbean Community (Caricom) Secretary General Dr Carla Barnett says there has been progress in trade and investment between Africa and the 15-member regional integration grouping following the commitment given by the leaders during their first Caricom-Africa summit in 2021.

In a virtual address to the annual Global Africa People-to-People Forum 2023 held over the last weekend, Barnett described the inaugural summit in 2001 as a "landmark occasion" allowing both regions to engage on matters of mutual interest and determine the direction for deeper cooperation.

She said the summit was held against the backdrop of the COVID-19 pandemic, during which vaccine hoarding by high-income countries "threatened our ability to effectively curtail the effects of the virus on our public health system".

But she told the forum, which was held under the theme 'Building on visionary initiatives: Reflections of the inaugural Caricom-Africa Summit', that "today, we are particularly proud of the collaboration between Rwanda and two Caricom member states — Barbados and Guyana — on a pharmaceutical production programme to help ensure adequate supplies of critical pharmaceuticals for both our regions".

Barnett said at the first summit Africa and Caricom also examined matters such as trade and investment promotion, development finance, climate change, mass media, and forging increased people-to-people contact.

"Caricom and Africa have made progress in trade and investment relations, with strong support from Afreximbank. A formal partnership has been established, and the Caribbean headquarters is scheduled to be opened in Barbados in a few weeks' time," Barnett said.

She said this will allow Caricom countries to access financing for trade promotion in a range of sectors.

"The possibility of utilising the pan-African payment and settlement system as a method of intra-regional payments within the Caribbean is also being explored," she said, adding that as a a follow-up to the summit's discussions on strengthening trade and investment. "We welcomed last year's First Africa-Caribbean Trade and Investment Forum, convened in Barbados under the theme 'One People. One Destiny. Uniting and Reimagining Our Future'.

Barnett said the region is looking forward to the second forum to be held in Guyana in October this year under the theme 'Creating A Shared Prosperous Future'.

She reminded that the 2021 summit mandated a memorandum of understanding (MOU) between the Caricom and the African Union Secretariat to allow for ongoing technical dialogue.

"We expect that signing ceremony to take place in short order, setting the foundation for other commitments to be pursued," she said, noting that president of Rwanda Paul Kagame had attended the recently held Caricom summit in Trinidad and Tobago as a special guest.

Barnett said the cooperation between the two regions in the international sphere also remains robust.

"Caricom continues to collaborate with African states in the context of the Organisation of African, Caribbean and Pacific States; the Commonwealth; and the United Nations. In the past we strongly supported and were present in the anti-apartheid struggle with African states to establish a Permanent Memorial at the UN for Victims of the Trans-Atlantic Slave Trade.

Barnett said diplomatic representation to cement relations between States has increased, as several Caricom member states have now established diplomatic representation in Ghana, Kenya, Nigeria, Morocco, and South Africa.

Caricom pleased with African talks

 

[Yehuda]

AFREXIMBANK OPENS CARICOM OFFICE IN BARBADOS​

08/05/2023

Bridgetown Friday 4 August 2023 – Prof. Benedict Oramah, President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank), in the company of the Hon. Mia Amor Mottley, Prime Minister of Barbados, Dr. the Hon. Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines, the Hon. Phillip Pierre, Prime Minister of St. Lucia, the Hon. dikkon Mitchell, Prime Minister of Grenada, H.E President Olusegun Obasanjo (GCFR), Former President of the Federal Republic of Nigeria and Chairman of the Intra-African Trade Advisory council, as well as other dignitaries from Africa and the Caribbean community region presided over the official opening of the CARICOM office of the Bank, while reaffirming the US$1.5 billion credit limit made available to support eligible CARICOM States.

The Afreximbank CARICOM Office will support the implementation of the Partnership Agreement between Afreximbank and CARICOM member states aimed at expanding Africa-Caribbean trade and investment relations. This move cements Afreximbank’s efforts to promote and develop trade between Africa and the Caribbean, in line with its Diaspora Strategy and the African Union’s designation of the African Diaspora as Africa’s sixth region.

Speaking at the event, President Oramah said that the establishment of the Afreximbank CARICOM office remains critical to facilitating operations of the Bank in the Caribbean Community. It will bring Afreximbank’s products and initiatives closer to the business community and ensure that the Bank rapidly ramps-up operations to promote stronger relations with the Governments in the region towards the pursuit of mutually identified priorities.

“With the launch of the CARICOM Office, we can look forward to a smooth implementation of trade and access to finance initiatives, broader business origination across the CARICOM member states and more impactful results from our partnership. We also look forward to Afreximbank subsidiaries finding homes in the CARICOM, especially the Fund for Export Development in Africa (FEDA), PAPSS and AfrexInsure. Over time, CARICOM and African financial systems will become better integrated for the benefit of our people” he added.

In her remarks, Prime Minister of Barbados, the Honourable Mia Amor Mottley, stated that Africa has been a loyal friend to the Caribbean, referencing the assistance offered through the African Medical Supplies Platform during the COVID-19 pandemic. She said Africa opened its doors to the Caribbean Community and facilitated access to equipment, therapeutics, and ultimately vaccines, with the payment mechanism facilitated through Afreximbank. Prime Minister Mottley went on to laud the establishment of the Afreximbank CARICOM office, noting that this new office is the culmination of promises made by the Bank during the first AfriCaribbean Trade and Investment Forum held in Barbados in 2022.

“This is not just a proud moment historically, but it is also a move that makes sense that will benefit our regional private sector and our regional state-owned corporations who need access to a more empathetic, reasonable bank and one willing to take risks that would allow our people to move and grow to the next level,” she stated.

In December 2022, the Board of Directors of African Export-Import Bank (Afreximbank) approved US$1.5 billion funding to enable member states of the Caribbean Community (CARICOM) that had ratified the Partnership Agreement with Afreximbank to tap into the Bank’s various financial instruments. As of July 2023, eleven out of the fifteen CARICOM member states had signed the Partnership with Afreximbank. The financing will be targeted at supporting critical economic sectors aimed at boosting the development of trade-enabling infrastructure, as well as enhancing trade and investments between Africa and the CARICOM member states, while providing support to small and medium enterprises. The bank has also committed to increase the credit limit to US$3 billion.

About Afreximbank:

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of 2022, Afreximbank’s total assets and guarantees stood at over US$31 billion, and its shareholder funds amounted to US$5.2 billion. The Bank disbursed more than US$86 billion between 2016 and 2022. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”).

AFREXIMBANK OPENS CARICOM OFFICE IN BARBADOS

 

[Yehuda]

Strengthening Afro-Caribbean ties: A call to celebrate Africa-Caricom day​

August 29, 2023

Barbados Ambassador to Caricom, David Commissiong (Photo: CMC)

By Joanne Clark

In an effort to strengthen and celebrate the deep-rooted connections between Africa and the Caribbean, Barbados Ambassador to the Caribbean Community (Caricom), David Commissiong, is championing the need for “people-based annual commemorative activities” in honor of Africa-Caricom Day.

​

A day born from diplomatic ties​

On September 7, 2021, a landmark meeting was held between the Heads of Government of Caricom and the African Union (AU).

From this gathering, a unanimous decision was made to earmark September 7 of every subsequent year as Africa-Caricom Day. Additionally, plans were laid out to host an annual Africa-Caricom Summit, accommodating both virtual or in-person participation, on this significant day.

Since then, no subsequent summits have been held. However, Ambassador Commissiong is hopeful that with the recent strengthening of relations between the region and Africa, more would be done this year towards a commemoration of the day.

Glimpses of stronger relations​

Commissiong is hopeful due to the series of developments that hint at stronger ties between Africa and the Caribbean.

Notably, in the past two years, the African Export – Import Bank (Afreximbank) has made strides in the Caribbean community. Additionally, Barbados’ proactive approach in establishing embassies in African nations such as Ghana and Kenya signifies a step forward in diplomatic relations.

The recent Reparations Study Tour to the Caribbean, organized by the African Union- Economic Social and Cultural Council (AU-ECOSOCC), further attests to this growing bond.

Commissiong emphasizes the importance of Africa-Caricom Day, stating it should primarily serve as a bridge to unite the African and Caribbean people.

More on Afreximbank​

• Afreximbank unveils Caribbean office in Barbados
• Afreximbank president Benedict Oramah champions stronger ties with Caribbean partners

A glimpse into this year’s celebrations​

The Barbados Ambassador disclosed a series of events lined up to celebrate Africa-Caricom Day. Among them, flag-raising ceremonies are slated to take place at the Government Headquarters of every AU and Caricom member nation.

Additionally, nations are encouraged to engage in thoughtful reflections, diving deep into the outstanding facets of their intertwined histories and engagements.

Strengthening Afro-Caribbean ties: A call to celebrate Africa-Caricom day

 

[Yehuda]

Passage to Africa: Trinidad and Tobago, Ghana seek to strengthen trade ties​

RYAN HAMILTON-DAVIS WEDNESDAY 2 AUGUST 2023

Traditional Ghanaian ruler Nana Otuo Siriboe II is greeted by Foreign and Caricom Afffairs Minister Dr Amery Browne (centre) and Minster of Trade and Industry Paula Gopee-Sc00n, at the 21st annual Trans-Atlantic Trade and Investment Symposium, at Hilton Trinidad on Monday. - Angelo Marcelle

More than 400 years ago the Trans-Atlantic slave trade saw the transport of ten to 12 million Africans, to fuel the demand for labour that powered the sugar, cocoa, and tobacco plantations of the 16th to 19th centuries.

The passage from Africa, during which millions died, was taken by sail boats, which took weeks from the western coast of Africa to the West Indies, United States and Latin America.

Back then it was seen as "profitable" to have a direct route from the west to Africa. However, today at a time when resource-rich, economically booming Africa is reaching out to the world, including TT to do business and connect with non-traditional trade partners, officials at Caribbean Airlines explain that it is too difficult and not feasible for travel to Africa by plane.

However, their explanation was not satisfactory to a visiting Ghanaian delegation, in TT for Emancipation Day celebrations this week, who said while it would not be an easy task, there must be deliberation on how to remove the bottlenecks and rebuild that passage to Africa, for the growth of both regions.

CAL: Travel to Africa costly

On Monday at the 21st annual Trans-Atlantic Trade and Investment symposium held at the Hilton Trinidad, Aylette Wright-Paul and Herbert Ghent of Caribbean Airlines (CAL) explained that demand for flights to Ghana and other African states, as well as a capacity to accommodate flights were among the main challenges to establishing a direct route to the continent.

“In order to make the appropriate decisions you need to have that market data,” Wright-Paul said. “We did a brief fact-check before we came here and the market data for 2019 which would have been pre-pandemic, they indicated 61 people moving between TT and Ghana for that year.”

“Our fleets are complimented by Boeing 737 Max 8s, so in terms of range, yes, they are able to cross the Atlantic, but can they do it with people on board? So, we may be looking at a different type of aircraft which is not in our fleet.”

The 737 Max 8s have a maximum flight range of 3,550 nautical miles while the distance from TT to Ghana is 3,923 nautical miles. Some of the planes that are capable of trans-Atlantic travel are the Boeing A330-200, listed for US$238 million, and US$241.7 million for the freighter versions. On the more expensive side the Boeing Max 777-8 costs US$410.2 million. The 777-9 cost around US$442 million.

Business Day spoke to several travel agents who said from an airline’s perspective, to make any money out of using aircraft such as the A330-200, flights would have to be at a minimum of 85 per cent capacity for every flight.

Responding to the data of the level of demand for flights to Ghana, Trade and Industry Minister Paula Gopee-Sc00n said the demand is greater from a regional perspective. She said numbers on movement from the Caribbean to Ghana for the same period was more to the tune of 250 people.

Nana Otuo Siriobe, the Omahene or king of the Juaben traditional area, lamented that a direct route was one of the main barriers to trade between TT and Ghana.

He described the lack of communication with a Ghanaian proverb.

“This is two fishes locked together with one stomach, but when they are eating, they struggle among themselves because of greed and avarice,” he said.

“I see the same thing with these two sitting behind me,” he continued, pointing to where Wright-Paul and Ghent sat. “Are we not the same people? So why should we divide ourselves.”

“If 400 years ago they were able to do this, then surely we can now also take a hard look at the challenges that separate us and make the necessary investments to achieve mutual benefits, this time not at the expense of one another but for our collective good.”

The middle passage

Siriboe said travel between Africa and the Caribbean is bogged down by lengthy journeys across the northern Atlantic with stops and transfers in the US and Europe which impedes connection between Africa and the Caribbean.

Travel agents told Business Day that it costs anywhere between $15,000 and $25,000 to travel to Ghana by air. The shortest route to Ghana from TT would be north to New York which takes five hours, then another flight to Ghana, which takes an average of 11 hours.

That is, if you have a visa. If you don’t, it’s much harder and more expensive.

IDB director Robert Le Hunte speaks at the 21st annual Trans-Atlantic Trade and Investment symposium, Hilton Trinidad on Monday. - Angelo Marcelle

Business Day was told that to get to Ghana without a visa, people would have to take a flight to the UK – a ten-hour flight, then from UK to Ghana which is five hours. People can also take a direct flight to Amsterdam which takes about ten hours, and then to Ghana, which would take another six-and-a-half hours.

The price of the flights are heavily dependent on the availability of the flights at the time of booking.

“I might sell you a fare into Accra, Ghana for about $12,000 today, and the person would say that they had only booked a week ago and the price is now $26,000 because only the highest economy is available.”

It would also depend on the availability of the connecting flights. Travel agents said if the connecting flights are not available people simply would not be able to go.

The same challenges affect freight, Business Day understands.

To get goods from TT to Africa would take five days of air freight on a good connection, going from TT to Miami, then Miami to London and London to South Africa and other places on the continent.

This is a key contributing factor to the level of exports made between the regions. Gopee-Sc00n said at the symposium that Caribbean exports to Africa, despite its growth over the years, only account for three per cent of the region’s exports.

“These are heavily dominated by energy products from TT,” Gopee-Sc00n said.

She added that TT’s exports are valued at US$769 million, with Ghana, Morocco, Senegal, South Africa being the main destinations.

Africa on the other hand exported US$290 million in 2022, with the top exporters being Nigeria, South Africa, and Angola to TT.

Africa – the land of opportunity

Gopee-Sc00n added that the economic potential for Caricom through deeper integration with Africa is worth its weight in gold.

Citing data from the International Trade Centre (ITC), she said there is an estimated billion-dollar potential in sectors ranging from agri-food and healthcare, to tourism, fertilisers, and automobiles.

“The ITC indicated that addressing trade barriers and channelling investments into sectors with growth potential, Africa could increase its merchandise exports to the Caribbean by US$171 million by 2026,” she said. “The Caribbean in turn could boost its goods exports to Africa by US$80 million."

CEO of the Ghana Investment Promotion Centre, Reginald Yofi Grant said Africa has no less than 40 per cent of the world’s resources, including 90 per cent of the world’s platinum, cobalt, and chromium as well as a significant proportion of the world’s lithium, copper, iron ore, bauxite and other materials needed as inputs for various items for the transition to clean energy.

Lithium, for example, is a main component in the manufacture of batteries for electric cars, cellphones and other items. Chromium is also used for clean-energy generation.

“About 50 per cent of the world’s gold is in Africa,” Grant said. “Ghana is the number-one producer of gold in Africa. More than 65 per cent of the remaining arable land in the world is in Africa. So we can feed the world with our resources.”

“We can feed the world with our food. We are in the position of being the breadbasket of the world.”

He also said the future market will be African, pointing out that by 2050 the population in Africa will grow to 2.6 billion.

“By 2050 every fourth person will be African,” he said.

Former government minister Robert Le Hunte, who as a banker took Republic Bank to Ghana in 2010, said the attractiveness of the market in Ghana is the same today as it was back then, but people cannot sit on their hands and decide from TT. For people to see the opportunities in Africa, Le Hunte said, they would have to get up and go there.

“We saw the opportunity; we went on trade missions ourselves. We explored the market. We did the research. We did the analysis. We made the contacts. You cannot want to take advantage of the Ghanaian market by sitting in TT.”

In 2010, Le Hunte went to Ghana to begin facilitating the acquisition of HFC Ghana, completing the acquisition in 2013. The bank has grown six-fold since the acquisition.

Le Hunte, now at the Inter-American Development Bank, added as far as ease of doing business is concerned it is not much different from TT, with Ghana ranking 59 and TT ranking 61.

“No one is going to make it attractive for you,” he said. “For it to happen we need to go and make it happen. For airlines it is very expensive to set up a route, and if it is not financially feasible, who is going to subsidise the flights? Who is going to turn it to a business venture and make it successful? At the end of the day, it is all well and good to talk about it, Republic Bank didn’t talk, we went and did it. And we were successful.”

Passage to Africa: Trinidad and Tobago, Ghana seek to strengthen trade ties

 

[loyola llothta]

 

[Yehuda]

Caribbean Leaders Endorse New South-South Partnership – Next Stop Africa

Inside View 13/08/2024 • Elaine Ruth Fletcher

Sharing experiences across continents: A group of community health workers in a remote Guyana community describe their training to a visiting HeDPAC delegation.

The recent CARICOM summit of Caribbean leaders has endorsed a new Afro-Caribbean Health and Development (HeDPAC) initiative aimed at stimulating South-South collaboration on resilient health systems, health worker capacity building, and local medicines and vaccines manufacture.

The formal CARICOM Communiqué at the close of the Summit in Grenada invited its 15 member states and five associated states to join the voluntary partnership:

“The HeDPAC initiative has three main priorities: to mitigate the difficulties faced by the health workforce of the Africa and Caribbean regions, including education, employment, deployment, retention, and performance; to build resilient health systems capable of withstanding emerging threats; and to promote the local manufacturing of medical products, including vaccines,” stated the Communiqué, noting that the overarching aim is “to manage the gaps identified during the COVID-19 pandemic.

CARICOM leaders at the close of the recent summit, which endorsed a new initiative on Afro-Caribbean health and development cooperation.

“The Partnership could also be leveraged to improve knowledge exchanges between Africa and the Caribbean, to enhance regulatory capacity for medicines, medical supplies and equipment, and to facilitate the free movement of CARICOM nationals within the Community through advancing the digitalization of health information systems,” the Communiqué added.

“All Member States are invited to partner with HeDPAC to leverage sustainable health development and capacity building through political, technical, and scientific collaboration between the Regions.”

The communiqué was issued in early August, shortly after the conclusion of the summit in Grenada, which was postponed to the end July, due to Hurricane Beryl.

It also referred to “health-related issues of the climate crisis” as another potential area of collaboration – in the wake of the devastating effects of Hurricane Beryl on the region’s small island states.



Next stop, Africa

Following the CARICOM summit, HeDPAC’s advocates are now making a swing through Africa to build support among member states on the continent for stepped-up collaboration.

In Addis Ababa last week, the African Union’s Technical Committee on Health, Nutrition, Population, and Drug Control (STC-HNPDC-5) heard a presentation on the initiative.



Member States were invited to engage, beginning with stepped up participation in cross-regional events such as the upcoming Africa CARICOM day, observed on 7 September.

The initiative also may be a topic of discussion on the sidelines of the upcoming WHO African Committee meeting in Brazzaville, set for 26-30 August, sources say.

The media highlight of the AFRO Committee meeting is sure to be the election of a new Regional Director to replace the outgoing Matshidiso Moeti, the AFRO region’s first female RD, elected in 2015. [In this round, all four candidates are men].

But some two-dozen WHO-led global and regional action plans are also on the agenda, covering critical topics ranging from local manufacturing to vector borne and infectious diseases, as well as health emergencies.

A declaration Tuesday by Africa CDC of a continental health emergency on a new, and rapidly-expanding strain of mpox, first identified in DR Congo, along with a possible WHO declaration of a global mpox health emergency, will undoubtedly be another focus for discussions.

Promoting salaried and certified community health workers

A community health worker who has graduated from her training describes her role in managing vaccine cold storage at a Guyana health facility in Lethem, a primarily indigenous community on the border with Brazil.

Most experts agree that a cross cutting requirement to address all of these challenges involves more robust primary health care systems, built around more and better trained health workers.

And one of the first concrete aims of the HeDPAC initiative is precisely that, says Dr Haileysus Getahun, CEO. It aims to harness lessons learned in the Caribbean to foster stronger cadres of African community health workers (CHW), serving on PHC frontlines.

Caribbean countries can offer some African countries examples of a way forward, in terms of the standardized training of community health workers and their integration into the health workforce as certified and salaried civil servants, he points out.

In contrast, many African CHW’s may serve primarily as volunteers, or for small stipends.

“We want to promote certified and salaried health workers to be part of the system in Africa. Not only that, but with career development schemes,” Getahun said in an interview with Health Policy Watch.

Conversely, some African countries, like Rwanda, have useful experiences to share with Caribbean partners related to strengthening regulatory and clinical trial capacity, Getahun noted.

Building a community health care workforce

A pharmacist assistant in Lethem, who first began her career as a community health worker, takes HeDPAC CEO Haileysus Getahun on a tour of products available in the clinic pharmacy.

On a recent visit to Guyana, Getahun said he had the opportunity to observe the country’s community health workers in action, in both remote indigenous communities such as Lethem, which sits aside the border with Brazil, as well as busy urban settings near the capital of Georgetown.

“I found Guyana and the region very much developed and mature in terms of its primary health care systems – and particularly community health care integration into primary health care.”

Community health worker (CHW) training is carried out in a hybrid mix of online-and in-person sessions – with a national curriculum and accreditation system ensuring a standard level of competencies.

“In addition to being trained and salaried, Guyanan CHWs are offered paths for career advancement; nursing assistant and pharmaceutical training courses keep them motivated and retained,” Getahun noted.

A Guyana Online Academy of Learning (GOAL), offers a portal for virtual training in healthcare provisions – supported by a government scholarship programme for those that apply and qualify. There is also a programme for high school students to test out various work options in the health care sector.

As a next step in building the partnership, HeDPAC is working with African and Caribbean health leaders to organize experience-sharing visits.

‘Health leaders in both regions are eager to learn from each other, and we are organizing those platforms to do so starting from field and exchange visits,” he said.

Finance remains a challenge

Barbados Prime Minister Mia Mottley laying out her Bridgetown agenda at the UN Climate Conference in Sharm el-Sheikh (COP 27) in 2022.

Along with awareness and political will, a key challenge for many African states remains finance for new community healthworker and primary health care initiatives.

Much of Guyana’s innovation in the health sector has been financed by government budgets flush with funds from newfound oil and gas reserves. Surging revenues from oil and gas helped catapult the tiny nation from the status of a middle income country to an upper income one in World Bank classifications last year.

But some other Caribbean countries, as well as many more of their African counterparts, remain hobbled with debt, which impedes their ability to develop their health systems – an issue Barbados Prime Minister Mia Mottley has called out repeatedly, as part of her “Bridgetown” Initiative calling for creative forms of debt relief that would also free up funds for development in health and climate projects in low- and middle-income nations.

Along with Guyana, Mottley has also been one of the leading champions of the HeDPAC initiative in the CARICOM community.

Regulatory standardization

International political leaders at the launch of BioNTech’s new facility in Kigali in 2023.

Incubated by WHO, HeDPAC was launched as an independent non-profit in December 2023. It aims to leverage lessons learned from the COVID-19 pandemic to promote health development across the Global South, beginning with more African-Caribbean collaboration. It works directly with government leaders and heads of state – minimizing the bureaucracy that intergovernmental organizations often involve.

And while Africa may have a lot to learn from the Caribbean, Getahun argues that the collaboration is not a one way street.

In Africa, Rwanda has been a leading African country championing the cross-continental partnership – and it also has lessons to share across the ocean. Rwanda recently became the host to the COVID pharma giant BioNTech’s first modular mRNA manufacturing facility, thanks partly to its conducive regulatory environment.

“On the regulatory side, Guyana is just now establishing their own food and drug administration, whereas Rwanda has almost reached a WHO Maturity Level 3 in terms of its regulatory system and standards,” he remarked.

“So Guyana may be able to take some of the regulatory experiences from Rwanda,” he observed.

Caribbean Leaders Endorse New South-South Partnership – Next Stop Africa

 

[Kasgoinjail]

 

[Yehuda]

The rise of Global Africa: Africa and the Caribbean forge new economic partnership​

Ways for Africa – including its global diaspora – to take its place on the world stage were on the agenda at the 31st annual meeting of the African Export-Import Bank (Afreximbank) in Nassau.

July 3rd, 2024
By Lennox Yieke

Image: Daniel SLIM /AFP

The decision to hold the 31st annual meeting of the African Export-Import Bank (Afreximbank) in Nassau, capital of the Bahamas, reflects the Caribbean nation’s ambition to become a bridge between Africa and its diaspora.

The event featured African and Caribbean leaders, senior government officials, policymakers, bankers, business leaders and academics, as well as cultural icons such as actor Viola Davis, singer Wyclef Jean, and actor Boris Kodjoe. Leaders explored the concept of “Global Africa”, an idea gaining traction across the continent and beyond. It envisions African nations and their diaspora as a united front, working together for shared economic prosperity.

A prosperous and competitive Global Africa​

Benedict Oramah, president and chairman of the board of directors at Afreximbank, highlighted the promise of a prosperous and competitive Global Africa as motivation for the bank’s venture into the Caribbean.

The African Union (AU) recognises the diaspora as the “sixth region” of the continent. Member states of the Caribbean Community and Common Market (CARICOM) have joined Afreximbank as participating member states, and the bank has opened a regional office in Barbados. By April, 11 out of 15 CARICOM member states had signed the bank’s participation agreement. The bank’s board has approved a limit of $1.5bn to support participating CARICOM states – set to rise to $3bn when all sign.

“I have always felt that when we trade with each other on the African continent, and with our brothers and sisters in the Caribbean, we are doing much more than business,” remarked Oramah. “We are, in fact, re-establishing our knowledge of each other, renewing bonds of history and solidarity which have been frayed by centuries of displacement, alienation and colonisation…

“The over two billion Africans spread around the world must now recognise that together, they constitute a powerful economic force that cannot be ignored; they must also recognise that power can only be potent and credible if delivered on a common and cohesive platform.”

Philip Davis, prime minister of the Bahamas, echoed this and stressed the need for Africa and the Caribbean to unite in the push to reform the global financial architecture. “We must embody the spirit of vigilance and an unbending principle, not only driven by economic interests but by the profound ethical imperative to advocate for a more inclusive and thorough global financial system.”

Monique Nsanzabaganwa, deputy chairperson of the AU Commission, pledged the AU’s continued support: it “is prioritising the reform of the international financial architecture, debt restructuring, food security, energy transitions, and improving Africa’s credit rating. Our interests align strongly with those of the Caribbean in these areas.”

African capital ownership is vital​

Oramah highlighted the need for Africa to own its capital: “for many decades, the global capitalist economy, built on the sweat and blood of African slaves, has remained an unbearable burden on the shoulders of Africans; we are now poised to make it work for us. It is capital, owned, controlled and deployed by us, and not by others, that has the best chance of turning the iniquities of that sad history into an asset for a new beginning of shared prosperity.”

Financiers in Africa have responded to this by uniting under the banner of the Africa Club – a coalition of the continent’s most powerful finance houses that was launched in February at the 37th ordinary session of the AU. Formally named the Alliance of African Multilateral Financial Institutions (AAMFI), its founding members are Afreximbank, the Africa Finance Corporation (AFC), Trade and Development Bank Group (TDB Group), African Reinsurance Corporation (Africa Re), African Trade and Investment Development Insurance (ATIDI), Shelter Afrique Development Bank (ShafDB), and ZEP-RE (PTA Reinsurance). Its ranks are set to grow further.

Kenya’s President William Ruto proposed, via a video link, that African central banks and governments dedicate 30% of their national reserves to African development. Olusegun Obasanjo, former president of Nigeria, said that “I learned from my father that what you can do for yourself, don’t outsource it to somebody else, because it will not be good enough. We have outsourced our development to others to do for us. The time has come for change.”


Mahamadou Issoufou, former president of Niger, echoed this. “Africa must do away with this dependency syndrome, which gets us to think that the solutions to our problems are abroad.” He emphasised the need for Africa to trust itself and called for the strengthening of democratic institutions, contending that there is an undeniable link between peace and economic prosperity.

Hailemariam Desalegn, former prime minister of Ethiopia, highlighted the importance of understanding Africa’s history: “Our civilisation, the global civilisation, began in Africa… We can bring about the African Renaissance if we understand our history.”

Bold choices to accelerate integration​

The African Continental Free Trade Area (AfCFTA) holds immense promise in terms of rectifying this situation, said Wamkele Mene, secretary general of the AfCFTA secretariat. He revealed that the secretariat is working with ministers to develop common rules of origin for local content, “to foster industrial development in Africa”.

But “it is easier to travel in the Caribbean and in Africa with a European passport, than it is with an African passport,” noted Arnold Ekpe, former group CEO of Ecobank and chairman of the Business Council for Africa. “That’s a problem. We can fix it. So why haven’t we fixed it?” Aliko Dangote, founder, chairman and CEO of Dangote Group, added: “as an investor, as someone who wants to make Africa great, I have to apply for 35 different visas on my passport.”

In essence, African nations need to decide: build their own industries, or continue relying on imports, argued Samaila Zubairu, president and CEO of the Africa Finance Corporation (AFC). “‘We are focused on structural transformation of the continent. We are focused on moving from the export of raw materials to finished goods and semi-processed goods, on capturing and retaining value on the continent,” he said.

Trade ties will advance African unity​

Pamela Coke-Hamilton, executive director of the International Trade Centre (ITC), highlighted trade between Africa and the Caribbean. ITC’s latest research, conducted in collaboration with Afreximbank, reveals that this could reach $1.8bn annually by 2028. But these regions “scored the lowest on the World Bank logistics performance index and, unless we invest more in changing that, then even our best efforts at spurring greater intra-regional trade and investment will be for naught,” she observed.

Jeffrey Sachs, economist and public policy analyst, said Africa’s “most important challenge” is unity. “We’re living in a world of big players: China, India, the United States and Europe. Africa needs to be a big player… the Berlin Conference [among the colonising powers in 1884-85] left it with 54 different countries. This is deleterious for geopolitics, for risk premiums and for the scale of investment and industry,” he told delegates via a video link.

Sachs called on African countries to scale up investment in education, not because “it is nice, good, humane and moral – it is – but because it has the highest return of anything that a country can do,” he remarked. “Africa lags badly in education right now.”

With the right kind of investments and policies, Africa has the capacity to achieve sustained growth of 7% per annum compounded over the next 40 years, Sachs said. China achieved that between 1980 and 2020 – “It’s Africa’s time for a high growth, high investment, high finance trajectory. This is what needs to be agreed across the continent.”

The rise of Global Africa: Africa and the Caribbean forge new economic partnership

 

[Yehuda]

Conference of the African Diaspora in the Americas debates Pan-Africanism, Memory, Reconstruction, Reparations and Restitution​

The ministerial event in Salvador (state of Bahia) closed with the presentation of the Letter of Recommendations to African Union representatives. The document highlights need for concrete action to combat racism

Published in Sep 03, 2024 06:07 PM | Updated in Sep 03, 2024 06:51 PM

More than 50 international delegations participated in the conference, represented by ministers and deputy ministers of Foreign Affairs from Africa and the Diaspora, ambassadors and representatives of international organizations, as well as a group of civil society representatives selected by the event organizers - Credit: Juliana Uepa/MinC

The Conference of the African Diaspora in the Americas, concluded last Saturday (31) in Salvador, Bahia. It brought together government representatives, researchers and black leaders to discuss ways to expand commercial, cultural and social exchanges between countries and their populations. The event concluded with the reading of a Letter of Recommendations prepared by representatives of civil society and delivered to the African Union. The letter discussed four great themes: Pan-Africanism, Memory, Reconstruction, Reparations and Restitution. The document will also contribute to the debates of the 9th Pan-African Congress, which will take place from October 29 to November 2 this year in Lomé, Togo.

The letter highlights the need for concrete actions to strengthen global networks of cultural dialogue and to combat racism, including in modern digital contexts. Among the topics addressed by civil society is the promotion of inclusive social policies to protect women, the elderly, children, young people, imprisoned people, people living with disabilities, LGBTQIAP+ and migrants. The letter also addresses the need to create transnational museums and cultural initiatives to preserve ancestral memory and knowledge.

The document was delivered to the Minister of Foreign Affairs, African Integration, and Togolese Abroad Robert Dussey, who also chairs the African Union High-Level Committee for the Implementation of the Agenda of the Decade of African Roots and the African Diaspora. After listening to the letter, Dussey highlighted the importance of historical reparation. “Without reparation, the cycle of racism, intolerance and discrimination will continue. Reparation is a historical demand,” he stated.

More than 50 international delegations participated in the conference, represented by ministers and deputy ministers of Foreign Affairs of Africa and the Diaspora, ambassadors and representatives of international organizations, as well as by a group of civil society representatives selected by the event organizers.

Brazilian Foreign Minister Mauro Vieira said that the history of Brazil and the Americas is deeply marked by ties with Africa and that being able to celebrate them through the Diaspora Conference was an unparalleled privilege. “This is another step towards regional integration and re-engagement with Africa, priorities of President Luiz Inácio Lula da Silva’s foreign policy,” he declared.

The letter will contribute to the 9th Pan-African Congress, whose theme is “Renewal of Pan-Africanism and Africa’s role in the reform of multilateral institutions: mobilizing resources and reinventing itself to act.” According to Minister Vieira, “Reforming global governance institutions is precisely one of the priorities of the Brazilian presidency of the G20.”

The Brazilian minister emphasized that the support of African countries and the African Union – the newest member of the G20, with the support of Brazil – is of great value in advancing issues of common interest to developing countries. “We will continue our efforts to strengthen our partnership with Africa, reaffirmed in February when President Lula had the honor of speaking at the opening of the African Union Summit. We have also worked to strengthen our relations with the countries of the Americas,” said Minister Mauro Vieira in a statement to the press at the end of the Conference.

Credit: MinC

ORGANIZATION - Promoted by the African Union and the Government of Togo, in partnership with the Brazilian Federal Government and the Government of the State of Bahia, and with the support of the Federal University of Bahia [Universidade Federal da Bahia/UFBA] and the Brazil-Africa Institute [Instituto Brasil-África], the conference promoted the exchange of ideas and experiences, reflecting Brazil’s commitment to valuing African heritage and the global struggle for racial equality and social justice.

The organization of the Conference had broad government participation, bringing together the ministries of Racial Equality [Igualdade Racial]; Human Rights and Citizenship [Direitos Humanos e da Cidadania]; Culture [Cultura]; and Agrarian Development and Family Farming [Desenvolvimento Agrário e Agricultura Familiar]; in addition to the General Secretariat of the Presidency of the Republic [Secretaria-Geral da Presidência da República]; the Presidency of the Republic’s Communications Secretariat [Secretaria de Comunicação da Presidência da República]; and the Office of the Chief of Staff of the Presidency of the Republic [Casa Civil da Presidência da República].

During the event, the Minister of Human Rights and Citizenship, Silvio Almeida, highlighted the importance of reconnecting Brazil with Africa institutionally, culturally and economically. "We need to reconnect to reconfigure intellectual and Afro-Brazilian discussions, which can be renewed at this time," he stated. Almeida recalled that, as the country with the largest Afro-descendant population outside of Africa and two decades of policies to promote racial equality, Brazil has much to offer and learn from its relationship with African countries.

"We must also discuss human rights based on the right to development. This is a central issue for us," he emphasized, mentioning that the connection between Brazil and Africa can provide not only economic advances but also new cultural perspectives that challenge Eurocentrism and promote a more inclusive and diverse vision of humanity.

Credit: MinC

Credit: MinC

COOPERATION - In addition to cultural ties, Minister Mauro Vieira also mentioned in his statement Brazil's technical cooperation with African countries, such as projects to strengthen the cotton sector, which are spread across more than 15 countries. "We also have programs in the areas of health, education, professional training, among others, throughout the continent."

Brazil's Minister of Culture, Margareth Menezes, highlighted the importance of strengthening these relations, emphasizing President Lula's vision of international cooperation, reaffirmed in February during his speech at the opening of the African Union Summit. "This meeting materializes a premise of our president: the resumption of our relations with the countries of the African continent, understanding that, collectively, we can strengthen our commitment to social justice, combat climate imbalance, racism and inequalities, and promote democratic and inclusive ideals," she declared.

"How much of our history has been erased or ignored in terms of preservation? We need to think and act on ways to repair injustices,” said Brazil's Minister of Racial Equality Anielle Franco, who brought the issue of historical memory to the center of the debate. “In addition to all the emotion it symbolizes, this meeting is a moment to honor the present generations and those who helped build this moment. Our history does not bring only pain, but also resilience and strength. Our struggle is collective and, while we are here, we will honor each step taken before us,” highlighted Franco.

João Jorge, president of the Palmares Cultural Foundation [Fundação Cultural Palmares/FCP] concluded that “this is an extremely important construction for our ancestry, present, and future”. “We are often Pan-Africanists in Candomblé, capoeira, music, colors, and clothing, but now is the time to delve deeper into this essence and learn about the history of how Pan-Africanism has made the Black movement resist since long ago. My message is that we look at Africa, look at Latin America, the Caribbean and the African diaspora to reflect," he pointed out.

On her first visit to Brazil, Monique Nsanzabaganwa, vice-president of the African Union Commission, celebrated the conference being held in Salvador, and highlighted the connection between Bahia and Africa. “Bahia is the gateway and the unbreakable bond between Africa and the Diaspora,” she stressed. According to Nsanzabaganwa, the Conference represents “the celebration of the battle and the recognition of the long and tireless journey of Black people.”

Conference of the African Diaspora in the Americas debates Pan-Africanism, Memory, Reconstruction, Reparation, Restitution

 

[Yehuda]

CARICOM, African Union sign MoU to deepen relations​

Published: Monday | October 7, 2024 | 3:58 PM

CARICOM Secretary-General, Dr Carla Barnett (right), and Deputy Chairperson of the African Union Commission, Dr Monique Nsanzabaganwa. - CMC photo

GEORGETOWN, Guyana, CMC – The Caribbean Community (CARICOM) and the African Union (AU) have signed a Memorandum of Understanding (MoU) to enhance effective cooperation and collaboration between the organisations.

According to a statement released by the Guyana-based CARICOM Secretariat today, the MoU was signed in the margins of the recently concluded 79th Session of the United Nations General Assembly in New York.

It said that the MoU envisages the creation of a conducive environment for investment on the African continent and in the Caribbean region.

“In addition to promoting investments, the MoU seeks to deepen relations by creating platforms for closer people-to-people interaction and solidarity through initiatives including a diaspora volunteer exchange as a framework for associating people with development,” the statement added.

“The MoU also outlines modalities for cooperation and collaboration, information sharing, as well as its implementation.”

The MoU was signed by the CARICOM Secretary-General, Dr Carla Barnett, and the Deputy Chairperson of the African Union Commission, Dr Monique Nsanzabaganwa.

CARICOM, African Union sign MoU to deepen relations

 

[Yehuda]

Haiti becomes 12th CARICOM member state to accede to the Afreximbank Partnership Agreement​

09/30/2024
Categories: News, Press Releases

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank exchanges partnership agreement documents with Honourable Dr. Garry Conille, Prime Minister of the Republic of Haiti (third right). The two were accompanied by senior officials from Afreximbank and the government of Haiti.

New York, 30 September 2024: – Haiti has become the 12th Caribbean Community (CARICOM) member state to accede the partnership agreement between and among CARICOM countries and African Export-Import Bank (Afreximbank).

During a ceremony on September 25 at the Haitian Investment Forum, held on the sidelines of the 79th United Nations General Assembly (UNGA) in New York, the Prime Minister of the Republic of Haiti, the Honourable Dr. Garry Conille, and the President and Chairman of the Board of Directors of Afreximbank, Professor Benedict Oramah, signed the documents formalising Haiti’s accession to the partnership.

Introduced by the Bank in 2022 following the African Union’s 2008 resolution designating the Diaspora as the sixth region of Africa, the Partnership Agreement recognises that Africans on the continent and in the Diaspora share deep historical, cultural, and political ties, as well as a sense of common identity. It therefore seeks to promote the Global Africa agenda, which includes the expansion of two-way trade and investment between Africa and its Diaspora, to stimulate economic development.

With Haiti’s signature, 12 of the 15 CARICOM member states have now acceded to the Partnership Agreement, with nine of them concluding its ratification. The move paves the way for both public and private sector institutions in the country to access the US$1.5bn financing limit approved by Afreximbank’s Board to support projects and trade related transactions in the region. This limit is set to double once all the CARICOM member states join the partnership agreement.

At the event, Afreximbank announced plans to institute a US$ 250 million facility to support the rebuilding of the Haitian economy.

In his comments, Haiti’s Prime Minister Honourable Dr. Garry Conille said: “It is with immense gratitude that we receive your announcement today of a US$250 million facility for Haiti. This is a decisive and impactful gesture that holds the promise of revitalisation for our economy and renewal for our people. This facility will allow us to address some of the most pressing challenges we face, from infrastructure and energy to agriculture and manufacturing. It will also serve as a catalyst for unlocking the potential that exists within our nation — potential that has long been stifled but never extinguished.”

He added that the facility was a concrete step towards regaining Haiti’s rightful place in the global economy, noting that it would create the right conditions for Haiti to ‘once again stand tall,’ contributing not only to the region but to the wider world.

In his remarks, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said:

“I express deep and sincere gratitude to the Prime Minister of Haiti, The Honourable Dr. Garry Conille, for his courage and demonstrated commitment to advancing trade and investment relations between Africa and Haiti, and the Caribbean region in general. Haiti’s accession to this Partnership Agreement marks another historic move towards enhanced Afri-Caribbean cooperation thereby helping to propel the Global Africa agenda towards a more prosperous future.”

Following the introduction of the Partnership Agreement with Caribbean countries, Afreximbank has hosted three editions of its AfriCaribbean Trade and Investment Forum (ACTIF) in the region and established its regional office in Barbados. In just under two years, the multilateral Bank has provided more than US$2.5 billion in funding across the CARICOM, targeting key areas such as infrastructure development, climate adaptation projects, SME financing, among others.

In June, the Bank hosted its 2024 Annual Meetings in The Bahamas, a historic event that brought together more than 4,000 people from across the globe. The event also doubled as the third ACTIF and served as one of the high-level events by Afreximbank to demonstrate the Global Africa movement.

ENDS

About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

Haiti becomes 12th CARICOM member state to accede to the Afreximbank Partnership Agreement

 

[Yehuda]

Suriname gets go ahead to develop oil field​

By Bert Wilkinson
Posted on October 3, 2024

Suriname’s new President Chan Santokhi addresses the audience after receiving the presidential sash from outgoing President Desi Bouterse, in Paramaribo, Suriname July 16, 2020. REUTERS / Ranu Abhelakh, file

In Guyana, the economic windfall from a humongous offshore oil find in 2015 has already begun to manifest itself since production kicked off in late 2019. The country earns at least $7.6 million daily from production. With two more oil fields set to come on stream in the next three years, officials say the daily figure will more than double once global oil prices hold steady.

In the next four years, neighboring Suriname will join Guyana in raking in billions from offshore oil production. This is after the multiparty coalition government and French oil giant Total Energies and Apache Oil of Texas made a final investment decision (FID) this week to proceed with production development in Gran Morgu field, located in Block 58, approximately 86 miles offshore. Officials estimate that the area, neighboring Exxon’s gushing Stabroek Block in Guyana, has at least 750 million barrels of recoverable oil and large gas deposits.

The investment is worth $10 billion, will produce an estimated 220,00 barrels of oil daily, and will be supported by a floating storage and offloading vessel (FPSO), as is the case in the Stabroek Block. The two share the Guyana-Suriname Basin, which industry experts list as one of the most prolific, with billions of barrels of sweet, light crude that is easily refined. Production costs per barrel in both are estimated at under $30.00, providing a huge profit margin for companies.

Agreements to rush to production by 2028 were signed in Paramaribo, the Surinamese capital, on Tuesday, ending more than two years of national tension as Total had been hesitating as to whether or not it should have invested in Suriname with its more challenging production sharing and tax regimes than Guyana. Guyana and Suriname are the two most resource-rich CARICOM nations, which now both have oil and abundant forest, gold, diamonds, agricultural, bauxite, and freshwater resources, among others. Both also have populations of under one million.

For the Chan Santokhi administration, the FID is a prominent political lifeline as it can boost the coalition’s chances of a second five-year term in general elections set for May 25 next year. Santokhi had been counting on selling the investment as a political carrot to an angry electorate. The grouping was on course to drop many seats in the 51-member parliament because of severe economic hardships. The country is in the throes of an economic downturn and is struggling with the help of the IMF to come out of a slump that has bedeviled it for over a decade. The impending offshore production will tie in with the decades of onshore output, which can sometimes reach up to 16,000 barrels daily.

“Today is a historic day for Suriname, for the people, for all of you, a day that will determine our future. This is a game-changer. Soon, Suriname will be independent for 50 years. Gran Morgu offers a great opportunity that we must seize with both hands. This means no more uncertainty from today,” said a beaming Santokhi as he signed the deal. Legal documents exchanged. He said that money from the sector “must be managed transparently and apolitically.” At the same time, Annand Jagesar, managing director of state-owned oil company Staatsolie, called for transparency, “This project offers a unique opportunity to strengthen our economy. However, its success depends on the proper use of the resources. We must ensure that these revenues lead to sustainable prosperity for our country.”

Staatsolie has a 20 percent stake and has raised funds to contribute to oil field development in the coming months. The company will drill up to 32 wells in the first phase.

Suriname gets go ahead to develop oil field