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The African Export–Import Bank (Afreximbank) will host its annual Trade Finance Seminar and Factoring Workshop in Windhoek next month.
The seminar and workshop will bring together African bankers, financiers, legal practitioners, insurers, and professionals from regulatory agencies and corporates from across Africa involved in trade finance.
The event is set to address critical trade finance trends and tools, and offer training in innovative strategies to bolster Africa’s trade ecosystem.
The finance ministry’s executive director, Titus Ndove, in his keynote address will underscore Namibia’s commitment to advancing intra-Africa trade as well as global trade facilitation.
There will also be a number of other speakers covering a number of topics and technical training workshops.
Afreximbank managing director of trade finance and correspondent banking Gwen Mwaba says the seminar aims to equip participants with essential knowledge and skills to navigate the complexities of financing transactions and structuring viable trade deals amid increasing and heightened global economic uncertainty.
“By enhancing expertise in trade and trade-related deals, participants will not only drive national economic growth and boost public and private sector revenues through enhanced income generation, but also enable governments to execute critical development projects.
Our aim is to foster a collaborative environment where these key stakeholders can share insights and strategies to strengthen Africa’s trade finance landscape and unlock new opportunities for growth,” Mwaba noted in a statement on Wednesday.
The bank says Africa’s trade finance gap is estimated to be between US$90 billion and US$120 billion per year.
This is because the exiting and scaling back of many international banks from Africa have severely limited local lenders’ ability to finance clients’ import and export needs and created record demand for trade finance in Africa.
Global Representative Body for Factoring and Financing of Open Account Domestic and International Trade Receivables secretary general Neal Harm will be one of the speakers at the workshop.
The full-day factoring workshop on 8 November will focus on solving the African micro, small and medium enterprises (MSMEs) trade finance gap through factoring and supply chain finance, and will provide valuable insights into how this alternative financing method can effectively bridge the finance gap for MSMEs.
Factoring is a vital trade finance tool that provides MSMEs with access to financing, helping to boost trade under the African Continental Free Trade Area.
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