The Arab Africa Trade Bridges (AATB) Program announces the successful conclusion of its 4th Board of Governors (BoG) Meetings, held alongside with the Tunisia Africa Business Meeting (TABM) from 2 July 2024, in Tunis, Tunisia. This event marks a milestone in advancing trade, economic cooperation, and regional integration between Africa and the Arab world.

The 11th Executive Committee Meeting which was held on 1st July featured high-level sessions focused on areas such as agricultural sustainability, food security and the economic empowerment of Arab and African nations. The meeting drew participation from key stakeholders and representatives of member institutions, including the African Export-Import Bank (Afreximbank), the Islamic Development Bank (IsDB), the International Islamic Trade Finance Corporation (ITFC), Islamic Corporation for Investment and Export Credit (ICIEC), Islamic for the Development of the Private Sector (ICD) and Arab Bank for Economic Development in Africa (BADEA).  

Mrs. Feryel Ouerghi Sebai, Minister of Economy and Planning, Tunisia, stressed the importance of the “Arab Africa Trade Bridges” program as a renewed mechanism to consolidate economic relations between Arab and African countries, highlighting the Tunisian government’s enthusiasm to contribute effectively and actively to any joint work aimed at further linking interests for the benefit of all member countries. The Minister indicated that Arab and African countries are rich in resources and capabilities that qualify them to establish economic, trade, and investment partnerships in many sectors, pointing out that the AATB Program is an effective mechanism in supporting economic cooperation between member states.

During his welcome remarks, Prof. Benedict Oramah, President and Chairman of the Board of Afreximbank and Chairman of the AATB Executive Committee said, “In recent years, a new form of cooperation for mutual benefit has ushered in a new era in Arab-Africa economic relations. The AATB program has further expanded these relations and provided a platform for growing trade and investment relations between the two regions. With its focus on Trade, Investment, Insurance, and Infrastructure, the Program provides a platform for enhancing this expansion and deepening of relations.  This is particularly important in the context of the AfCFTA which has created an integrated market of 1.3 billion people with a combined GDP of over US$3.4 trillion”.

Addressing the gathering, Eng. Hani Salem Sonbol, CEO, ITFC and Acting CEO ICD, and Secretary General of AATB Program said, “The cultural and economic ties between African and Arab regions have been impacted in recent decades for various reasons. However, we have seen many initiatives aiming to strengthen and revive the special interest that has characterized the relations between both regions for centuries. I am calling on all countries to take advantage of the benefits and activities offered by the AATB Program. To enable the AATB Program to play its role effectively, we must provide the Program and its general secretariat with the necessary resources and support, including transforming the program into a regional institution.”

In line with the AATB Program’s commitment to fostering sustainable economic growth and resilience in both regions, the event provided the platform for stakeholders to strengthen partnerships through the signing of several agreements including:

Letter of Intent for Egypt’s Membership Renewal in the AATB Program: Which aims to boost Egypt’s exports, support various economic sectors, and implement a comprehensive work plan.

Agreement to Support the Development of the Common African Agro-Parks (CAAPs) Programme: Between ITFC, Afreximbank, and the Forum for Agricultural Research in Africa (FARA), aimed at providing institutional support for the CAAPs Programme from 2024 to 2026. This initiative is designed to enhance agricultural productivity and sustainability in Africa, focusing on creating agro-industrial parks that serve as hubs for innovation, technology transfer, and economic development.

In addition, a Memorandum of Cooperation (MoC) between the Tunisian Agency for Technical Cooperation (ATCT) and ITFC: aimed at developing and supporting technical capacities and skills development in ITFC member countries. The cooperation covers areas such as implementing projects to support technical capacities, selecting Tunisian experts for technical assistance missions, and organizing training courses, workshops, and seminars in Tunisia.

A highlight of the event was a panel discussion on “Bridging the Gap to Support Food Security”. In 2023 Arab-Africa Trade Bridges Program established a US$1.5 billion Food Security Programme to address pressing food security challenges in the Arab and African region with the aim of enhancing agricultural productivity, ensuring sustainable food systems, and improving the livelihoods of communities across Arab and African countries.

The AATB Program focuses on trade, investment, insurance, and infrastructure to enhance economic cooperation. Planned initiatives include expanding programs, addressing challenges like climate change and food security, and promoting collaboration among member countries. The program will also enhance capacity-building efforts, improve access to financing for SMEs, and encourage innovation and technology transfer through strategic partnerships and global initiatives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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About the Arab-Africa Trade Bridges (AATB) Program: 
The AATB Program is a multi-donor, multi-country, and multi-organizations program supported by the African Export-Import Bank (Afreximbank), Arab Bank for Economic Development in Africa (BADEA), Islamic Development Bank, the International Islamic Trade Finance Corporation (ITFC) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and The Islamic Corporation for the Development of the Private Sector (ICD).  The Program aims to promote and increase trade and investment flows between African and Arab OIC member countries; provide and support trade finance and export credit insurance and enhance existing capacity-building tools relating to trade. The Program specifically focuses on supporting the key sectors of agriculture and related industries including textiles; the health industry including pharmaceuticals; infrastructure and transport; and petrochemicals, construction material, and technology.  

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) and the Forum for Agricultural Research in Africa (FARA) are pleased to announce winners of the inaugural Afreximbank-FARA Research, Innovation and Competence in Agriculture (AFRICA) Awards.

These prestigious awards honour individuals, groups, or established organisations that have made outstanding contributions towards improving food and nutritional security, income generation, resilience and natural resource management in Africa through research, innovation, agripreneurship and policy advocacy in the food and agriculture domain.

The award winners were presented with their awards in Nassau, Bahamas, on the margins of the 2024 Afreximbank Annual Meetings (AAM2024) and AfriCaribbean Trade and Investment Forum (ACTIF).

The AFRICA Awards encompasses three categories which are the Africa Research Excellence Award, the Innovation-based Entrepreneurship Award, and the Impactful and Evidence-based Policies Award.

The AFRICA Awards selection process is overseen by an Independent Awards Selection Committee composed of globally recognised experts. 

Following a highly competitive selection process, FARA and Afreximbank are pleased to announce the two laureates of the 2024 AFRICA Awards. They are:

Umezuruike Linus Opara is the recipient of the Africa Research Excellence Award in recognition of his contribution to developing and validating a novel integrated value-chain approach to post-harvest research and innovation, one crop at a time.  His work is acclaimed for reducing post-harvest losses, enhancing value addition, and connecting production to local, regional, and international African markets. Additionally, Professor Opara is recognised for his contributions to building Africa’s capacity for research and innovation in post-harvest science and technology through cutting-edge research, new knowledge creation, and mentoring young, outstanding researchers. He is a distinguished Professor and holder of the South African Research Chair in Postharvest Technology, Faculty of AgriSciences, Stellenbosch University, South Africa.   Professor Opara holds a Bachelor of Engineering and Master of Engineering degree from the University of Nigeria, Nsukka, and a PhD from Massey University, New Zealand. Professor Opara has published extensively, is a highly cited researcher, and has received several other prestigious awards.

Professor Richard Mkandawire is the recipient of the Impactful and Evidence-based Policies Award for his foundational role in conceptualising CAADP and catalysing its domestication in African countries. CAADP is credited with elevating the attention and increasing the investments African countries are devoting to agriculture.

Professor Mkandawire has consistently and vigorously advocated for policy processes that are inclusive and supported by evidence.  He has catalysed very productive partnerships among policy analysts, policymakers, the private sector, knowledge institutions and other actors in the food and agriculture system. These partnerships have been instrumental in improving the policy environment needed to drive Africa’s agricultural transformation. Professor Mkandawire holds a PhD in development studies and an MSc in agricultural extension from the University of East Anglia, United Kingdom. He also holds an MA in Rural Sociology from the University of Missouri, USA. He has published extensively on agriculture development policy and related areas and has been honoured with several other notable awards. He is the Africa Director, Alliance for African Partnership; Chair, Malawi National Planning Commission and formerly the Head of the Comprehensive Africa Agriculture Development Programme (CAADP) at NEPAD.

Commenting during the awards, Prof. Benedict Oramah, President and Chairman of Board of Directors, Afreximbank said: “Africa’s vulnerability to climate shocks exacerbate its food insecurity concerns and heighten the urgency of structural transformation of its agricultural sector. It needs to boost efficiency and productivity, modernise its agriculture, and reclaim its rightful position as a net exporter of agricultural products I applaud the winners of the Inaugural AFRICA Awards for the demonstrable and innovative impact they are delivering for agriculture.”

Dr Aggrey Agumya, Executive Director, FARA noted: “As leading African institutions, Afreximbank and FARA are proud to launch these eagerly awaited, innovation-driven awards that honour illustrious Africans who have been in the trenches shaping the future of the continent’s food and agriculture systems. The awards recognise outstanding contributions in research, innovation, technology, entrepreneurship, and policy, aligning with the goals of the African Union Agenda 2063: The Africa We Want.”

Distributed by APO Group on behalf of Afreximbank.

For more information on the AFRICA Award, please contact:
Afreximbank:
Dr. Christiane Abou-Lehaf
caboulehaf@afreximbank.com

FARA:
Dr Abdulrazak Ibrahim
aibrahim@faraafrica.org

Media Contact:
Vincent Musumba
Manager, Communications and Events (Media Relations)
Email: press@afreximbank.com

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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 in effectively participating 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. 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

About FARA:
FARA (https://FARAAfrica.org) is the continental apex body for agricultural research and innovation (R&I). Mandated by the African Union Commission (AUC), FARA facilitates pan-African actions to effectively deploy R&I to increase the continent’s agricultural productivity and competitiveness to feed its fast-growing population. FARA works with Sub-Regional Organisations (SROs), which are the West and Central African Council for Agricultural Research and Development (CORAF/WECARD), Association for Strengthening Agricultural Research in Eastern and Central Africa (ASARECA), Centre for Coordination of Agricultural Research and Development for Southern Africa (CCARDESA) and North African Sub-Regional Organization (NASRO) as well as the African Forum for Agricultural Advisory Services (AFAAS). FARA aims to facilitate strategic (continent-wide) collective agricultural research and innovation actions to increase agricultural productivity and competitiveness. The collaborative efforts are focused on strengthening the capacity for agricultural innovation on a country-specific basis. FARA is an international organisation with full diplomatic status in Ghana.

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