The African Chapter of the International Factors Group (IFG) has elected Kanayo Awani, Director of the Trade Finance and Branches Department of the African Export-Import Bank (Afreximbank), as its Chairperson, replacing Dr. Benedict Oramah, who recently stepped down from the position following his appointment as President of Afreximbank.
Ms. Awani’s election by acclamation took place during the Sixth Annual Meeting of the IFG African Chapter on the sidelines of the IFG’s 53nd Annual General Meeting held in Vienna from 17 to 22 October 2015.
As Chairperson of the African Chapter, Ms. Awani will take the lead in shaping the factoring growth strategy for Africa and also serve as a resource for IFG members seeking opportunities to trade with the continent. In addition, she will help stimulate Africa’s competitiveness and the development of small and medium enterprises by providing leadership focus to drive the advancement of emerging African factors.
Ms. Awani, who leads Afreximbank’s Factoring Working Group, is reputed to possess extensive knowledge of the factoring business and to be strongly focused on supporting African factors.
In stepping down, Dr. Oramah had informed the Chapter that he needed to be able to devote ful focus on his new commitments as President of Afreximbank.
The IFG, one of the world’s leading factoring organisations which has been in existence for more than 60 years, brings together factoring companies from some 100 countries. Afreximbank has been an IFG shareholder for eight years and has used its membership to actively promote opportunities for factoring in Africa in line with its mandate to promote trade finance.