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Afreximbank and ACBF sign five-year capacity building pact

  • Posted on: 22 July 2021
  • Updated on: 22 July 2021
  • By: radmin

The African Import-Export Bank (Afreximbank) and the African Capacity Building Foundation (ACBF) signed an agreement to support capacity building initiatives over a five-year period, ending in 2025.

The agreement signed by Professor Benedict ORAMAH, President of Afreximbank and Professor Emmanuel NNADOZIE, Executive Secretary of ACBF, will see the two pan-African institutions contribute to the development of capacities for the implementation of the Agreement of the Zone of African Continental Free Trade (AfCFTA) comprising knowledge sharing, advocacy and promotion of trade and economic development in African Union Member States.

On the occasion of the signing of the Accord, Professor Oramah underlined the need for African institutions to harness the power of collaboration in order to achieve optimal results in the development of the African continent, especially during and after the Covid era.

“The African Capacity Building Foundation has proven to be competent and effective in its long-standing role as a capacity development agent in Africa. We are convinced that the collaboration we have just concluded with the Foundation will have the necessary impact in various African states and will advance the aspirations of Agenda 2063, “noted Professor Oramah.

Prof Nnadozie praised Afreximbank’s timely support, saying it would allow the Foundation to continue supporting African countries facing capacity challenges that have been exacerbated by the Covid-19 pandemic.

“We are truly inspired and grateful for the support we continue to receive from Afreximbank. The impact that we have had together, as African institutions, is enormous, and we look forward to contributing to the recovery of African economies post-Covid-19 by supporting and meeting their capacity needs in these times. difficult, ”said Professor Nnadozie.

The financial assistance follows the initial support provided by Afreximbank to ACBF some five years after the two institutions entered into a partnership to collaborate in building human and institutional capacities to support intra-African trade, contributing to development. sustainable development of African countries.

Source: Kapital Afrik