10/10/2024 – Press Release

Cairo – Egypt, 10 October 2024 – African bankers, financiers, legal practitioners, insurers, and professionals from regulatory agencies and corporates, from across the African continent involved in trade finance will gather in Windhoek, Namibia, from 5 to 8 November for the annual Afreximbank Trade Finance Seminar (ATFS) and Factoring Workshop.

The event will address critical trade finance trends, tools and offer training in innovative strategies to bolster Africa’s trade ecosystem.

Mr. Titus Ndove, Executive Director, Ministry of Finance and Public Enterprises, Namibia will deliver the Keynote Address, underscoring Namibia’s commitment to advancing intra-Africa trade as well as global trade facilitation.

The Seminar will host a number of world class speakers covering a broad range of topics and technical training workshops.

Ms. Gwen Mwaba, Managing Director Trade Finance & Correspondent Banking, Afreximbank, said: “This Seminar aims to equip participants with essential knowledge and skills to navigate the complexities of financing transactions and structuring viable trade deals amidst increasing and heightened global economic uncertainty.

“By enhancing expertise in trade and trade-related deals, participants will not only drive national economic growth and boost public and private sector revenues through enhanced income generation, but also enable governments to execute critical development projects. Our aim is to foster a collaborative environment where these key stakeholders can share insights and strategies to strengthen Africa’s trade finance landscape and unlock new opportunities for growth.”

Africa’s trade finance gap is estimated to be between US$90 billion and US$120 billion per year.

The exiting and scaling back of many international banks from Africa have severely limited local lenders’ ability to finance clients’ import and export needs and created record demand for trade finance in Africa.

The Afreximbank Trade Finance Seminar (ATFS) and Factoring Workshop is a cost- and time-efficient capacity-building seminar tailored to African markets for professionals involved directly or indirectly in trade finance, providing them with valuable knowledge and expert training.

Among the speakers at the workshop is Mr Neal Harm, the Secretary General of the FCI, the Global Representative Body for Factoring and Financing of Open Account Domestic and International Trade Receivables headquartered in the Netherlands.

The full-day Factoring Workshop on 8 November will focus on “Solving the African Micro Small Medium Enterprise (MSMEs) Trade Finance Gap through Factoring and Supply Chain Finance” and provide valuable insights into how this alternative financing method can effectively bridge the finance gap for MSMEs.

Factoring is a vital trade finance tool that provides MSMEs with access to financing, helping to boost trade under the African Continental Free Trade Area (AfCFTA).

Interested attendees can register for the Afreximbank Trade Finance Seminar and Factoring Workshop by clicking on this link.

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About Afreximbank:  

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance, facilitate and promote intra and extra-African trade. For over 30 years, the Bank has been deploying innovative instruments to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the AfCFTA, Afreximbank has in partnership with the African Union Commission and the AfCFTA Secretariat launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the Free Trade Agreement. The AfCFTA Secretariat and the Bank have created a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. 

At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt. 

Media Contact:

Vincent Musumba

Communications and Events Manager (Media Relations)

Email: [email protected]  

For more information, visit: www.afreximbank.com 

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Source : Afreximbank