Registration Opens For 2023 Certificate of Trade Finance in Africa (COTFIA)

Categories: Press Releases

Cairo, Egypt, 07 March 2023 – The Afreximbank Academy (AFRACAD) today in Cairo announced the opening of registration for the 2023 cohort of the Certificate of Trade Finance in Africa (COTFIA). This programme, developed in partnership with Factors Chain International (FCI) and the American University in Cairo (AUC), is open to all banking professionals and interested practitioners in the area of trade finance.

COTFIA is AFRACAD’s flagship programme designed to support the implementation of one of Afreximbank’s strategic priorities – improving trade-related skills and addressing trade capacity gaps to facilitate a more conducive trading environment, enabling Africa to compete globally.

The content of the programme has been carefully developed to enhance participants’ understanding of all aspects of international trade finance, while being continuously updated to conform to best practices. In addition, the COTFIA programme addresses various aspects related to the implementation of the African Continental Free Trade Area (AfCFTA) agreement which is expected to have a significant impact on improving intra-African trade.

For the 2023 cohort, the COTFIA programme will continue to be conducted in a blended format with five modules delivered online in instructor-led virtual sessions, one module delivered in face-to-face sessions at the AUC campus in New Cairo, Egypt, while the final module will be asynchronous online.

Please click here to download the brochure and register.
The deadline for applications for the 2023 COTFIA programme is 02 April 2023 at 11:59 Cairo time. As for previous cohorts, the Afreximbank Academy will be offering this year again to the first 7 applicants a scholarship covering 50% of the tuition fees.

Stephen Tio Kauma, Afreximbank Group’s Director & Global Head of Human Resources, said: “We are delighted to once again open the application process for the Certificate of Trade Finance in Africa Programme which we have been running for 7 years now. With the creation of the Afreximbank Academy last year, we have embarked on further developing local talent through learning, knowledge sharing, and networking events focused on Africa’s needs. The COTFIA programme, facilitated by leading practitioners, academics and professional experts in the field, enables participants to gain unique insights while deepening their understanding and expertise in international trade finance. We strongly encourage organisations to enroll their staff members in this programme which will help them accelerate their career growth in international trade finance.”

Over 100 trainees across 7 cohorts have so far participated in the programme since its inception in 2016.
Sweetie Anang, a staff member in Afreximbank’s Innovation Department, who completed the programme as part of COTFIA’s 7th cohort, described it as an enlightening programme that enhanced her understanding of trade finance issues.

“Coming from a purely science and technology background and never having worked in the banking and finance sector, this was new territory and an opportunity to gain new knowledge and insight into a completely new field. The instructors encourage dialogue and are willing to clear up any doubts,” she testified. “The COTFIA programme is very informative and has allowed me to learn more about the continent and its regional blocs, the potential for intra-African trade and the financing possibilities to facilitate trade in Africa.”

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The Afreximbank Academy (AFRACAD) is the proprietary corporate academy of African Export-Import Bank (Afreximbank). AFRACAD is a centre of excellence for capacity building in trade and the go-to hub for Afrocentric knowledge and African trade expertise. It provides high impact learning solutions that cover trade and project finance, industrial capacity, innovation, leadership, trade language, and Knowledge and networking.

About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has 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 AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2021, the Bank’s total assets and guarantees stood at about US$25 billion, and its shareholder funds amounted to US$4 billion. Afreximbank disbursed more than US$51 billion between 2016 and 2021. The Bank has ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). The Bank is headquartered in Cairo, Egypt.

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