The Governments of Angola, Portugal and the African Development Bank have entered into a Country-Specific Compact designed to accelerate the inclusive, sustainable and diversified growth of Angola’s private sector.
The Lusophone Compact is a financing platform, involving the African Development Bank, Portugal, and the six Portuguese-speaking countries of Africa (PALOPs): Angola, Cabo Verde, Equatorial Guinea, Guinea-Bissau, Mozambique and Sao Tome and Principe
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. It provides risk mitigation, investment products and technical assistance to accelerate private sector development in Lusophone African countries.
The signing of the compact follows a Memorandum of Understanding of a Development Finance Compact for Portuguese-Speaking Africa, signed during the Bank’s 2018 Africa Investment Forum held in Johannesburg, South Africa.
The compact signing ceremony will be a highlight of various events to be held at the Luanda International Fair aimed at invigorating Angola’s private sector and promoting economic growth. The event will convene entrepreneurs, development finance institutions and partners, investors, key public and private sector players.
The Bank will be represented by Corporate Services and Human Resources Vice President and Chair of the Lusophone Compact Steering Committee, Mateus Magala, while the Angolan Government will be represented by Hon. Pedro Luís da Fonseca, Minister of Economy and Planning. H.E. Teresa Ribeiro, Secretary of State for Foreign Affairs and Cooperation, will sign for Portugal.