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ACBF and Afreximbank partnering to build capacity for the AfCFTA and economic development

10 Feb, 2022

The longstanding partnership between the African Capacity Building Foundation (ACBF) and the African Export-Import Bank (Afreximbank) continues to grow from strength to strength, transforming African  institutions and building a strong human resource base in support of the continent’s transformation agenda.

Over a period of five years, ending 2025, Afreximbank and ACBF will once again collaborate in knowledge-sharing, advocacy and promotion of trade and economic development in the African Union’s Member States.

The two pan-African institutions will work together on capacity development programmes that will lay a solid foundation not only for the efficient implementation of the African Continental Free Trade Area (AfCFTA) but in contributing to the post-COVID-19 recovery of African economies through supporting and addressing their capacity needs as well.

The Afreximbank financial contribution follows the just ended joint program running from 2019 to 2021, focused on strengthening human and institutional capacity to support intra-African trade, in contribution to the sustainable development of African countries. 

This collaboration has yielded some important results.  For instance, ACBF published a paper and policy brief on the capacity imperatives for the development and use of factoring as an innovative trade financing tool to advance the implementation of the African Continental Free Trade Agreement (AfCFTA). The publication was widely disseminated and it is influencing many policy makers in the promotion of factoring to advance their national trade policies.

ACBF, Afreximbank and the Eastern and Southern African Management Institute (ESAMI) also developed a Trade Finance Capacity Building Program. The program includes a post graduate trade finance program and short professional development courses targeting senior staff and executives from financial institutions including Central Banks, Ministries of Finance and Justice, Trade Support Institutions, Competition Policy Authorities, Export Credit Agencies, Revenue Authorities, to mention just a few.

The program also targets officials from umbrella private sector bodies such as Chambers of Commerce, Bankers and Insurance Associations, Business Councils, Manufacturers and Exporters Associations as well as research institutions and civil society organizations working in the area of trade.

Overall, the program aims to ensure that a mass of trade finance experts is trained and groomed for the effective implementation of the AfCFTA.

Thomas Kwesi Quartey

ACBF has been granted the status of a specialized agency because of the potential to transform Africa through capacity development.

H.E. Thomas Kwesi Quartey, Deputy Chairperson, AU Commission
Erastus Mwencha

The recognition of ACBF as the African Union’s Specialized Agency for Capacity Development launches the beginning of a new era for capacity building by ACBF, which will require an appropriate level of political commitment and financial support from all stakeholders.

H.E. Erastus Mwencha, Chair, ACBF Executive Board
Lamin Momodou

The remarkable achievements ACBF has registered over the past 26 years is not by accident in our opinion. They have come through hard work, dedication, commitment, purposeful leadership, support from the member countries as well as productive partnership building.

Mr. Lamin Momodou MANNEH, Director, UNDP Regional Service Centre for Africa
Goodall Gondwe

Africa needs ACBF as much, probably more now, than at the time it was created in 1991.

Hon. Goodall Gondwe, former Chair of the ACBF Board of Governors and Minister of Finance – Malawi
Ken Ofori Atta

Ghana’s partnership with ACBF is a tremendous blessing for us and therefore the opportunity for Ghana to host the 26th ACBF Board of Governors Meeting is something that we treasure.

Hon Ken Ofori Atta, Chair of the ACBF Board of Governors and Minister of Finance - Ghana