October 14, 2024 16:36 Read in 6 minutes In 2024, many Brazilians still see African countries as recipients of aid and charity, rather than partners with whom they can exchange valuable contributions in partnership and trade. This is the perspective of João Bosco Monte, director of the Brazilian African Institute and professor of international relations.
Each year, the Institute convenes business leaders and stakeholders from Brazilian and African governments, development agencies, financial institutions, the private sector, and civil society for the just-launched 12th Brazil-Africa Forum in São Paulo. .
The aim is for participants on both sides to learn from each other, stimulating innovation and delivering successful business stories that foster agreement on both sides of the Atlantic.
One example is the expansion of Kenyan fintech M-PESA. M-PESA has revolutionized the payments industry in the Horn of Africa by bypassing the need for traditional bank accounts and enabling financial transactions via mobile phones. M-PESA’s story reflects how fintech and PIX, Brazil’s central bank’s instant payments system, have promoted financial inclusion in Brazil.
The 2024 Forum theme focuses on infrastructure investment as a driver of sustainable development on both sides of the Atlantic.
Africa is home to many of the world’s fastest growing economies. Launched in 2021, the African Continental Free Trade Area is now the world’s largest free trade area, covering markets with a total GDP of USD 3 trillion, more than doubling by 2050, according to the United Nations Development Program. They say they plan to expand.
“During the forum, we will sign an agreement between the Brazilian African Institute and the Port of Las Palmas in the Canary Islands.
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