African Development Bank president, Dr Akinwumi Adesina, will lead a delegation on an official visit to Brazil aimed at strengthening ties with the Portuguese-speaking country and to invite investor interest in Africa.
In Brazil from 22 -23 April 2024, Adesina will have an audience with President Luís Inacio Lula da Silva and meet representatives of key ministries, as well as hold discussions with representatives of the Brazilian private sector.
During the official visit, Brazil will formalise its membership of the Lusophone Compact, an agreement aimed at developing the private sector in the Portuguese-speaking countries of Africa known as the PALOPs. The move will open up new opportunities for the Brazilian private sector on the African continent.
"Brazil and the Portuguese-speaking African countries have strong historical, cultural and social ties and we need to work to strengthen economic ties through more investment, trade and cooperation. The Lusophone Compact will be an important instrument for supporting partnerships between the public and private sectors of Brazil and the Portuguese-speaking countries in Africa," said Simone Tebet, Brazilian Minister of Planning and Budget, in an official announcement on the visit.
The signing of the Lusophone Compact will be attended by the African Development Bank delegation, Secretary for Economic Affairs, Development, External Finance and Regional Integration Renata Amaral, and the ambassadors of Portugal, Angola, Cape Verde, Equatorial Guinea, Guinea-Bissau and Mozambique.
