Cairo, 21 March 2024: The Africa Export-Import Bank (Afreximbank’s) MANSA Digital Initiative, a Pan-African due diligence platform, has been awarded four ISO standards for the effective implementation of its Information Management Systems (IMS). MANSA Digital Initiative is a pan-African customer due diligence platform created by Afreximbank to promote, expand and support both intra and extra African trade, with a special focus on value-added exports from Africa.
These four certifications recognize the successful implementation of Integrated Management Systems, encompassing: ISO/IEC 27001:2022 Information Security Management Systems (ISMS), ISO 22301:2019 Business Continuity Management Systems (BCMS), ISO/IEC 20000–1:2018 Service Management System (SMS), and ISO 27701:2023 Privacy Information Management (PIMS). MANSA Digital Initiative is the pioneering recipient of the PIMS certification among the four distinguished categories.
The ISO body granted the certification to MANSA Digital Initiative after it fully complied with all the criteria related to the International Standard for the Management of Information Security, ISO Business Continuity, Privacy Information Management System and Service Management. This recognition is attributed to MANSA Digital’s establishment of a core repository platform, serving as a centralized source for essential data needed in conducting customer due diligence on African Entities, Financial Institutions, Corporations, and SMEs.
Afreximbank President and Chairman of the Board of Directors, Prof. Benedict O. Oramah said:
“The MANSA Digital Initiative is the answer to some of the challenges hindering trade growth in Africa, particularly, our correspondent banking relationships, where a majority of international financial institutions withdrew due to inadequate data about African entities and the substantial cost of compliance. By achieving these standards, MANSA has established a robust foundation, positioning itself prominently as the ‘go-to’ platform for customer due diligence among African business entities on the continental stage.
The President noted that MANSA Digital Initiative and the African Continental Free Trade Area (AfCFTA) are working together to enhance intra-African trade and global trade connections. The partnership aims to eliminate information asymmetry, tackle the de-risking of African Financial Institutions, and dispel uninformed negative perceptions of conducting business with Africa, among other initiatives. With the recent introduction of the Africa Trade Gateway (ATG) by Afreximbank, which serves as a market-place for the Bank’s Digital Business, including MANSA, it is anticipated that MANSA will receive increased recognition throughout Africa and beyond.
Founded in 2020, MANSA Digital Initiative is a pan-African customer due diligence repository for financial institutions, corporate entities and SMEs, developed to address the perceived risk of doing business in Africa and with Africans. Its key mission is to promote, expand and support both intra and extra African trade, with a special focus on value-added exports from Africa.
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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