According to the African Export-Import Bank or Afreximbank for short, there were over 1,500 African bankers and trade finance professionals trained in structured trade finance, providing them the knowledge and appropriate skills in order to boost the continent’s economic status, says by the Bank during a press release taken from ghanabusinessnews.com.
Pointed out in the release, Dr. Benedict Oramah the Bank President who mentioned that the training enclosed both basic and innovative information of the subject in his opening remarks during the 15th Annual Structured Trade Finance seminar in Nairobi held from November 10-13.
“The Structured Trade Finance Seminars’ ultimate goals are to make and expand the African Bankers and trade practitioners’ knowledge on matters concerning structuring trade and production chain finance arrangement of different complexity levels,” Dr. Oramah quoted as he says that Afreximbank was able to structure and supply a good number of deals. It’s quite impressive that it includes the most complicated markets through utilizing the structured finance means.
Based to the statement, networking opportunities for those participants can also be created through the seminar conducted so as to promote intra-African banking organizations and develop collaboration by financial institutes in African financing trade.
The Deputy Governor of Kenya’s Central bank, Shiela Mmbijjewe was reported to have stated that the structured finance played a significant role in stabilizing the African market and that the training conducted by Afreximbank will lead to the likelihood that those problems in African can be solved by African-made solutions.
As what Ms. Mmbijjewe said, today’s poor trade statue was connected to the existing financing gap of Africa.
Moreover, the ACBF or the African Capacity Building Foundation Executive Secretary Prof. Emmanuel Nnadozie reported that the accessibility of budget-friendly trade finance was a main restraint in trading development in the African continent and noted that by way of the structured trade finance seminar. Afreximbank was meeting the urgent necessary skills to structure trade dealings.
Afreximbank was responsible in organizing the Structured Trade Finance Seminar, being part of the initiatives to raise the trade and the trade finance capacities of main players in the trade sector of Africa together with the mandate and the missions to become “the Centre of Excellence in African trade agreements.
The Bank said over 120 participants from 24 various countries worldwide all over African, united by others from U.S.A, United Kingdom, United Arab Emirates and India joined the seminars.