The African Export-Import Bank (Afreximbank) has announced the Creative African Exchange (CAX) programme as it was honoured at the International Fashion Awards (IFA) for its role in supporting the creative industry in Africa.
Kanayo Awani, Managing Director of the Bank’s Intra-African Trade Initiative, received the IFA award on behalf of the Bank during the IFA 2019 awards ceremony in Cairo on 18 December.
At a press conference preceding the award, Ayman El Zoghby, Senior Manager in the Intra-African Trade Initiative, said that the CAX programme was an initiative aimed at promoting and showcasing talent in Africa’s creative and cultural industry. It would involve a series of cultural events, including a CAX Weekend in Kigali from 16 to 18 January and a CAX Week on the sidelines of the second Intra-African Trade Fair (IATF2020) from 1 to 7 September, also in Kigali.
According to him, CAX will provide a platform to bring together Africa’s creative talent in the film, music, arts, fashion and design sectors and will provide commercial opportunities within the creative industry.
Participants in the IFA ceremony included Malawian fashion designer Lilly Alfonso, who was sponsored by Afreximbank to present her winter collection on the fashion runway. Ms. Alfonso, who also received an award, was appearing in the IFA for the second time in a row, following her successful showing in the 2018 event. She was identified by the event organisers during IATF2018 in Cairo in December 2018.
Afreximbank rolled out the IATF under its Intra-African Trade Strategy in order to stimulate trade among African countries.
Ms. Awani told the audience that IATF2020 would provide a unique and valuable platform for businesses to access an integrated African market of more than 1.2 billion people with a GDP of over $2.5 trillion created under the African Continental Free Trade Area.
Ayman El-Zoghby, Senior Manager, Intra-African Trade Initiative, Afreximbank (4th right), with other speakers at the International Fashion Awards press conference in Cairo.
Malawian fashion designer Lilly Alfonso receiving an award at the International Fashion Awards in Cairo.
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About Afreximbank: The African Export-Import Bank (Afreximbank) is the foremost pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved more than $67 billion in credit facilities for African businesses, including $7.2 billion in 2018. Afreximbank had total assets of $13.4 billion as at 31 December 2018. It is rated A- (GCR), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo. For more information, visit: www.afreximbank.com