The first African-American president – serving in the White House from 2009 until 2017 – he remains a major drawcard for Democratic candidates and a sought-after speaker around the world.

Growth Faculty chief executive Karen Beattie said the company had previously hosted the former president and his wife Michelle Obama in Singapore in 2019.

“There’s no leader better equipped to share their experience, unique strategy and wisdom, and we’re thrilled he’s chosen us for this limited and exclusive event,” she said in a statement.

Mr Obama’s visit comes as officials in Washington and Canberra prepare for a visit by President Joe Biden for a summit of the Quadrilateral Security Dialogue leaders in Australia in the first half of 2023.

The leaders of India and Japan will also attend the Quad summit.

Prime Minister Anthony Albanese invited Mr Biden to address parliament during his visit.