The African Export-Import Bank (Afreximbank) has said that Africa needs structured finance for effective financial trade to overcome uncertainty and economic difficulty to boost trade in the continent.
A statement signed by Head of Media, Afreximbank, Mr. Obi Emekekwue, on Wednesday in Abuja, quoted Mr Benedict Oramah, the bank’s President, as saying that expertise in financial trade was in short supply in Africa, adding that “it is now commonly accepted that structured finance is an effective tool for financing trade in the context of uncertainty and economic difficulty.’’
Oramah explained that in view of this the bank had developed two flagship courses to address the challenges.
According to him, the event has also become an important platform for African bankers and other trade finance practitioners to meet and network, thereby making a major contribution in boosting African trade.
The bank’s helmsman explained further that the seminar would equip African financial institutions, bankers, regulatory agencies and corporate and legal firms with skills for dealing with the challenges of financing transactions under heightened global economic uncertainty.
In addition, Oramah pointed out that the seminar would also focus on the Fundamentals of Structured Trade Finance.
This is even as he expressed optimism that participants at the end of the seminar would acquire the skills and capacity to properly identify risks in typical trade finance transactions.
The bank’s president said that the participants were expected to also be able to structure bankable trade and trade-related project finance deals of varying levels of complexity.