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The African Capacity Building Foundation (ACBF) and the African Export-Import Bank (Afreximbank) sign a Memorandum of Understanding (MOU) to build Capacity for Trade Finance in Africa

Cairo
Arab Republic of Egypt
07 Feb, 2017

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. 

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 , ,

The recognition of ACBF as the African Union’s Specializes 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. Erasmus Mwencha, Chair, ACBF Executive Board , ,

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 – Minister of Finance, Ghana , ,

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


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

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 , ,
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