The Lusophone Compact Secretariat engaged last week with leaders of the Community of Portuguese-Speaking Countries (CPLP) during the organisation’s 15th Summit and Economic Forum, held from 15 to 18 July in Bissau, Guinea-Bissau.
The high-level gathering offered a strategic platform for the Lusophone Compact to highlight its role in mobilising private financing to accelerate sustainable economic development across African CPLP member states.
A joint initiative of the African Development Bank (AfDB) and the Governments of Portugal and Brazil, the Lusophone Compact focuses on unlocking investment opportunities in Angola, Cabo Verde, Guinea-Bissau, Mozambique, São Tomé and Príncipe, and Equatorial Guinea. Together, these countries are part of a CPLP community spanning over 300 million people across four continents, with a combined GDP of US$2.3 trillion in 2024.
The Compact’s key objectives include promoting inclusive private sector growth, mobilising blended finance and technical assistance, enhancing economic resilience, and supporting regional integration in line with national priorities and the CPLP’s economic vision.
At the Bissau summit, Lusophone Compact officials participated in policy dialogues centred on food security, digital technology, and sustainability — areas central to Guinea-Bissau’s rotating presidency. The Compact also presented its financing toolkit and eligibility criteria to support member states in leveraging investment capital for development.
Neima Ferreira, Coordinator of the Lusophone Compact at the AfDB, underscored the initiative’s relevance: “With the right tools, partnerships and vision, Portuguese-speaking countries can lead a new era of investment-driven development.”
Guinea-Bissau, as host, reaffirmed its commitment to private sector-led growth and expressed strong interest in aligning Compact support with its national development strategy.
Source: Further Africa
