Afreximbank provides grant to Grand Africa Initiative to train African youth entrepreneurs on delivering AfCFTA goals

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Cairo, 20 July 2022 – African Export-Import Bank (Afreximbank) has announced a grant to Grand Africa Initiative (GAIN) to train two hundred young African entrepreneurs on entrepreneurship and intra-African trade over a three-month period starting July 2022.

The GAIN-Afreximbank Masterclass on Entrepreneurship and Intra-African Trade is a three-month programme designed to equip participants from across the continent with the skills to grow and expand their businesses across borders. The participants will also gain key insights on existing business opportunities while developing trade finance management skills, integral for building partnerships that leverage the opportunities of the African Continental Free Trade Area (AfCFTA). A faculty of experts from around the world will provide technical advisory and financial lessons to the participants.

Additionally, the programme will aim to broaden inclusiveness in the implementation of the AfCFTA through interventions that support young Africans, women, and small and medium-sized enterprises.

Programme participants will be selected from eligible applicants from all countries across Africa. Interested participants are requested to apply for the programme here – Entrepreneurs who apply are expected to fulfil the following criteria:  

  • Business must be registered
  • Business is in operation for 2 years and above
  • Business must be based in Africa
  • Business must be owned by youths of African descent.

Chinwe Okoli, Executive Director of GAIN, commented: “This is the second in a series of GAIN Entrepreneurship masterclass designed to empower African youths, the first edition held in 2021 benefited youths from 13 countries across Africa. Beyond the training, the participants will have access to a unique community of like minds for accountability and sustained motivation.”

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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. 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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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 potentials, 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.

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