BANK CEOS, EXHORTED TO “EXPLORE PARTNERSHIP OPPORTUNITIES, CAPABLE OF PRODUCING THE EXPECTED EFFECTS ON THE REAL ECONOMY”
22 juil, 2024
On the occasion of the opening of a presentation and discussion meeting between the African Solidarity Fund (FSA) Delegation, led by its CEO, Mr. Abdourahmane DIALLO, and the CEOs of banks grouped within the Professional Association of Credit Institutions of Congo (APEC-Congo), represented by Mr. Vincent NGIMBOCK, the Chief of Staff of the Congolese Minister of Economy and Finance, Mr. Athanase NGASSAKI, issued a double exhortation to the CEOs of banks established in Congo.
This meeting, which took place on Monday, July 22, 2024 at the Radisson Blu Hotel in Brazzaville, is part of the mission that the African Solidarity Fund (FSA) is undertaking in Congo for the official launch, on July 25, 2024, of the activities of this multilateral financial institution.
"I strongly urge you to explore all the partnership opportunities available to you. Likewise, I urge you to ensure that your partnership produces the expected effects on the real economy, with a view to the well-being of the populations. It is on this double exhortation that I declare this meeting open, on behalf of the Minister of Economy and Finance, Mr. Jean-Baptiste ONDAYE", declared Mr. Athanase NGASSAKI while addressing the stakeholders at this meeting.
For his part, presenting the offers of financing guarantees from the FSA, the Director General, Mr. Abdourahmane DIALLO, whose remarks were supported by Mr. Kara DIALLO, Deputy Director of Commercial Action and Project Evaluation, stated: "The multilateral financial institution (which brings together 23 African countries including Congo) aims to contribute to the economic and social development of its regional member states, by facilitating, through its various interventions, access to the resources necessary for the realization of investment projects, both in the public and private sectors, as well as in other income-generating activities (IGAs). The FSA, he continued, aims to build tailor-made solutions, in order to satisfy each of its partners. Our institution, he indicated, enjoys observer status at the African Union (AU). It aims to become a specialized agency of this continental organization. Its capital is 191 billion 75 million CFA francs. It is the most capitalized guarantee fund on the continent. In 2024, the FSA has already achieved a performance of 800 billion CFA francs in financing guarantees.
Brief history of the FSA
The African Solidarity Fund (FSA) was created in March 1975 by the Heads of Member States, meeting at a summit in Bangui (CAR). Its headquarters are in Niamey (Niger). Its two resident missions are based in Abidjan (Côte d'Ivoire) and Port-Louis (Mauritius).
It was by letter No. 0056 MEF of November 2, 2022 that the Republic of Congo expressed its interest in joining the FSA.This membership was confirmed by decision of the Board of Governors No. 06/CG/11/2023, then formalized by the signing of its instrument of accession on March 14, 2024.
The 23 member countries of the FSA are: Benin; Burkina Faso; Cape Verde; Central African Republic; Burundi; Comoros; Congo Brazzaville; Ivory Coast; Gabon; Gambia; Guinea-Conakry; Guinea-Bissau; Liberia; Mali; Morocco;Mauritius; Mauritania; Niger; Rwanda; Senegal; Sierra Leone; Chad and Togo.
The Communication Unit of the Ministry of Economy and Finance
