The African Capacity Building Foundation (ACBF) and the African Export-Import Bank (Afreximbank) at a meeting held last week in Cairo, Egypt committed to revive and foster the implementation of a Memorandum of Understanding (MoU), which they had signed in May 2012. This was agreed at a meeting held in Cairo, Egypt last week on the sides of the inauguration of the bank’s headquarters building and the investiture of the newly appointed President Dr Benedict Oramah.
The MoU provides the framework of collaborative activities between the two institutions, with the Foundation tasked with strengthening the bank’s capacity for research and policy formulation to support the development of intra-African trade. The agreement will also see ACBF and Afreximbank partner to mitigate risks in Africa by creating synergies through the joint support of economic policy analysis and management as well as a range of capacity development activities. Moreover, the agreement provides for the two partners to work at enhancing capacity in trade finance across the continent through the joint organizing of seminars, workshops and other knowledge sharing events for the public sector.
Afreximbank is based in Cairo, Egypt. It was created as a regional trade finance institution based on a unique international public-private partnership among African public and private investors and non-African investors to spearhead trade development in Africa by promoting and financing intra and extra African trade. The Bank launched its activities in 1993 and has grown rapidly over the last decade with a volume of trade financing from $144 million in 2004 to $600 million in 2015.
ACBF was represented at the meeting by Dr. Roger Atindehou, Manager Eastern and Southern Operations Department. The ACBF mission seized this opportunity to discuss joint activities to be planned for next years during the meeting with the outgoing and incoming Presidents as well as with staff members.
