CEMA : 10 years of action in review.

CEMA : 10 years of action in review.

 The Gazette de Monaco, written by Georges-Olivier Kalifa, interviewed our President about the work of the Club and its ten years of action.

The Club des Entrepreneurs Monégasques en Afrique is celebrating its first decade of existence this year. Frédéric Geerts, founding member and President, takes stock of the Club's ten years of activity. And one thing is certain: Africa is becoming an increasingly strategic part of international trade.

Frédéric Geerts, when CEMA was created in 2014, the founding members were aware that Africa was a key economic player in the making. Ten years on, the facts are proving them entirely right. How did CEMA come into being?

At the outset, the five founding members were already doing business with various African countries. So we were particularly aware of the continent's growth and were watching it closely. There were many indicators: significant demographic growth, one of the youngest populations in the world, a very dynamic new generation. Just think: according to serious statistics, the population of the African continent is set to double in the next 25 years!

At the time, as part of the Printemps des Arts Festival, we organised the visit of an orchestra from Kinshasa. This led to an exchange with a cultural event organised in the capital of the Democratic Republic of Congo, in which Monaco and the main founding members took part. This gave rise to the idea of creating a business club, CEMA, to act as a bridge between Monegasque and African entrepreneurs.

In ten years, this business club has evolved considerably...

We were effectively operating as a business club until 2020, when I was entrusted with the presidency. At that point, I felt it was important to develop CEMA and open it up to the whole of Monaco. This ‘open architecture’ enables close collaboration, for example with the Monaco Economic Board (MEB) or the Federation of Monegasque Entrepreneurs (FEDEM). Two years ago, we wanted to go even further and created Africa Day, a day dedicated to Africa in the Principality. The new and third edition will take place on 11 October.

You mentioned MEB and FEDEM. From the outside, one might think that there is a form of competition between your three bodies, especially as you also organise ‘economic missions’. How are relations between the three of you working?

From the outset, we always invited MEB and FEDEM to our events, because we didn't see ourselves as competitors, but as a complement. Each of the heads of the three entities immediately set the priority: to act to promote the development and influence of Monaco. We are partners working to serve our country. The MEB and the FEDEM immediately realised what a tool the CEMA could be on the African continent. We work together, hand in hand. As proof of this, we now organise our events in partnership with the MEB, which gives us the benefit of its know-how and material resources.

As you said yourself, ten years is also a symbolic time for taking stock. What is your assessment?

In all honesty, I have to say that we are very satisfied. Friendships have been consolidated within the club, members feel confident and don't hesitate to help each other, consult others and ask for advice.

More generally, CEMA has opened up new markets for our Monegasque companies and created new opportunities. Today, it is worth remembering that the African continent is Monaco's second largest economic partner. I would add, to pick up on the previous question, that we are also very happy and proud of this partnership with the MEB, which enables us to add our contribution to the Principality's development around the world and to its entrepreneurial dynamism.

CEMA members now have a strong presence in Africa...

That's right. We have significantly strengthened our presence, since we have relations with 45 countries on the continent, and our members have subsidiaries in more than half of African countries, with a turnover of around two billion euros on the African continent. This means that in 85% of African countries there is often a Monegasque presence, or at least business relations.

Africa is increasingly establishing itself as a key economic partner...

It's a continent that's going to count, that's undeniable. China and India have understood this. They have a very strong desire to establish themselves on this continent. The Middle East is also beginning to take an interest, particularly in raw materials, construction and many other sectors. The Americans, for their part, are still paying close attention. Europe, for its part, needs to step up its game in this area, as there is every reason to fear that it will lose influence over Africa. Thanks to the combined efforts of the MEB and the CEMA, Monaco's image in Africa is very positive.

Interview by Georges-Olivier KALIFA