March 12, 2024 – African Export-Import Bank (Afreximbank) is pleased to announce its collaborative effort with the Grand Africa Initiative (GAIN) through a grant aimed at facilitating the training of 300 young African entrepreneurs. The training program will focus on entrepreneurship and intra-African trade and is set to commence in March 2024.
The GAIN-Afreximbank Masterclass on Entrepreneurship and Intra-African Trade has been meticulously designed to equip young African entrepreneurs from various regions of the African continent with essential skills to foster the growth and expansion of their enterprises beyond their individual national borders. Over a comprehensive six-week program, participants will gain valuable insights into how to build and expand their businesses leveraging the intra-African Market. Participants will receive technical guidance, practical training, and business advisory from a faculty of international experts.
Moreover, this program aims to enhance inclusivity in the implementation of the African Continental Free Trade Area (AfCFTA) by offering interventions that specifically support young Africans, women, and small and medium-sized enterprises.
. Interested individuals are encouraged to submit their applications through the official program website at www.grandafrica.org. Prospective entrepreneurs will be selected from across Africa and are required to meet the following criteria:
- Must be between age 20 to 45 years old
- Must be a registered business entity.
- Must be of African descent
- Must have a business in Africa
- Must have a business that has been in operation for a minimum of two years.
- Must have access to a stable internet connection and electricity.
- Have a good knowledge of English Language
Yusuf Daya, Director, AU/AfCFTA Relations and Trade Policy, Afreximbank emphasized the crucial importance of capacitating young African entrepreneurs to take full advantages of the opportunities availed by the AfCFTA. “Our renewed support to the GAIN Masterclass underscores the Bank’s efforts to develop skills of African youth and build African entrepreneurial capacity under the Afreximbank Academy (AFRACAD). We look forward to an even more successful program in 2024 following the highly impactful masterclass in 2022 which helped build the capacity of 200 entrepreneurs from across the continent”.
Jerry Ojima Momoh, the Partnership Lead at GAIN, expressed his enthusiasm, stating, “This marks the fifth edition of GAIN Entrepreneurship masterclass series designed to empower African youths. We have two series so far focused on training women and three series now open to both male and female. We are happy to have this partnership with Afreximbank again this year to provide invaluable entrepreneurial support to young entrepreneurs. In 2022, we trained participants from 29 countries across Africa. Beyond the training, participants will gain in-depth knowledge, build connections, and access mentorship from experienced global mentors, all of which will have a successful impact on their business growth.”
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About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying 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. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of September 2023, Afreximbank’s total assets and guarantees stood at over US$33.4 billion, and its shareholder funds amounted to US$5.8 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com
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About GAIN
Grand Africa Initiative (GAIN) is a pan-African non-governmental organization enabling African youths through training, empowerment, mentorship, and advocacy. This is to help them develop and harness their potential, unique ideas, talents, and abilities to succeed in education, employment, entrepreneurship, and innovation. Through her annual GAIN Youth Summit, GAIN Entrepreneurship Masterclass, Grow with GAIN, A Date with GAIN Mentors among other programs, GAIN has impacted over one million youths. GAIN network comprises young Africans drawn from within and outside the continent, who are passionate about promoting entrepreneurship and digital skills to reduce conflict, illegal migration, promote peace and economic revival of the continent among other programs. GAIN leverages strategic partnerships to create and implement programs that impact positively on young Africans, and this is one of such programs.
For more information, visit: https://www.grandafrica.org/