The African Capacity Building Foundation (ACBF) and the African Export-Import Bank (Afreximbank) have decided to join forces to build Capacity for Trade Finance in Africa. The MOU was signed by Dr. Benedict O. Oramah, President of Afreximbank and Prof. Emmanuel Nnadozie, Executive Secretary of ACBF on the 6th of February 2017 at Afreximbank’s headquarters in Cairo, Egypt.
The purpose of the MOU is to provide a broad framework for collaboration between the two pan-African institutions in building capacity for Trade Finance in Africa, especially in the following areas:
a. Supporting intra-African trade by strengthening institutional capacity
b. Partnering to mitigate country risks in Africa
c. Developing a University-based programme for trade finance
d. Co-financing of any other capacity development initiatives
The two institutions will appoint a joint “Implementation Committee”, comprised of competent teams from both parties to ensure satisfactory execution of the terms of the MOU. The Committee will be responsible for the implementation of the Activity Implementation Plan and will meet at least once every year in order to evaluate its execution, to assess progress in the implementation of the MOU and recommend any measures that may be deemed necessary to ensure an effective implementation of the MOU.