Afreximbank Unveils Programme to Assist African Corporates Benefit from AfCFTA

Date:

July 11, 2024.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

African Export-Import Bank has unveiled an innovative capacity development programme to empower African corporates to capitalise on the opportunities presented by the African Continental Free Trade Area (AfCFTA).

A statement by Vincent Musumba, Manager, Communications and Events, Afreximbank, on Wednesday said the initiative, was spearheaded by Afreximbank Academy (AFRACAD) in collaboration with the AfCFTA Secretariat.

He said the programme aimed to equip businesses with the necessary skills and knowledge to navigate and thrive in the evolving intra-African trade landscape.

Musumba said the training was scheduled to run from Sept. 9 to Sept.13, 2024, in Cairo, Egypt and would be delivered in collaboration with the American University, Cairo.

He said the AfCFTA Secretariat would focus on the business implications of AfCFTA and the numerous opportunities which the agreement presents for African corporates.

“It will also equip members of Afreximbank’s TRADAR Club and other participants with practical insights to enable them to leverage the benefits and opportunities presented by the Agreement.

“Additionally, it will help translate the various treaty instruments of the AfCFTA into practical language that corporates can easily understand.

Musumba said the training would also provide an exposé on the requirements businesses must meet to seize opportunities in the continually expanding AfCFTA market.

He quoted Dr Yemi Kale, Group Chief Economist/ Managing Director of Research, Afreximbank, as saying: “Afreximbank is a key supporter of the implementation of the AfCFTA whose focus is on transforming Africa.

“Transforming Africa from a fractured, commodity-dependent group of economies to a vibrant, integrated single market of about two billion people with a combined Gross Domestic Product (GDP) of about 3.4 trillion dollars.

“In this regard, we believe that well-informed and prepared businesses are key to driving intra- and extra-African trade and investment.”

Kale said through the training programme, the bank aimed to empower African businesses to fully exploit the vast opportunities created by the AfCFTA, thereby enhancing their competitiveness and contributing to sustainable economic growth in Africa.

Musumba said Mr Tsotetsi Makong, Head, Capacity Building and Technical Assistance, AfCFTA Secretariat emphasised the importance of capacity building for the successful implementation of the AfCFTA.

He quoted Makong as saying, “Investing in capacity building for the corporates and SMEs will ensure that home sourced investments are mobilised and deficits with third country markets reduced.

“This will prove the AfCFTA to be the single most important instrument that de-risks the African continent in its entirety when it comes to investments.” (www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

Share post:

Subscribe

Popular

More like this
Related

FG, HarvestPlus partner to enhance Nigeria’s biofortification efforts

(first from the right) Dr Khalid Isyaku, DG NASC,...

NAFDAC shuts down bakery for using unfortified sugar, others in Sokoto

July 19, 2024. Azonuchechi Chukwu. The National Agency for Food Drugs...

Over 263 Boko Haram Terrorists Surrender to MNJTF

July 19, 2024. Azonuchechi Chukwu. The Multinational Joint Task Force (MNJTF)...

CBN directs BDCs to cap forex profits at 1.5%

July 19, 2024. Azonuchechi Chukwu. The Central Bank of Nigeria(CBN) on...
× How can I help you?