The African Export-Import Bank, Afreximbank, has announced a collaborative effort with the Grand Africa Initiative, GAIN, through a grant aimed at facilitating the training of 300 young African entrepreneurs. The training program will focus on entrepreneurship and intra-African trade and is set to commence in March 2024.
The GAIN-Afreximbank Masterclass on Entrepreneurship and Intra-African Trade is designed to equip young African entrepreneurs with essential skills to foster the growth and expansion of their enterprises beyond their individual national borders.
During the comprehensive six-week program, participants will gain valuable insights into how to build and expand their businesses leveraging the intra-African market. They will receive technical guidance, practical training and business advisory from a faculty of international experts.
“Moreover, this program aims to enhance inclusivity in the implementation of the African Continental Free Trade Area by offering interventions that specifically support young Africans, women, and small and medium-sized enterprises,” Afreximbank disclosed in a statement.
Interested individuals are encouraged to submit their applications through the official program website at www.grandafrica.org. Prospective entrepreneurs will be selected from across Africa and are required to meet the following criteria:
- Must be between age 20 to 45 years old
- Must be a registered business entity.
- Must be of African descent
- Must have a business in Africa
- Must have a business that has been in operation for a minimum of two years.
- Must have access to a stable internet connection and electricity.
- Have a good knowledge of English Language
Director in charge of AU/AfCFTA Relations and Trade Policy, at Afreximbank, Yusuf Daya emphasized the importance of improving the capacity of young African entrepreneurs to take full advantages of the opportunities availed by the AfCFTA.
“Our renewed support to the GAIN Masterclass underscores the Bank’s efforts to develop skills of African youth and build African entrepreneurial capacity under the Afreximbank Academy. We look forward to an even more successful program in 2024 following the highly impactful masterclass in 2022 which helped build the capacity of 200 entrepreneurs from across the continent”, said Daya.
The Partnership Lead at GAIN, Jerry Momoh expressed his enthusiasm on the viable of the partnership.
“This marks the fifth edition of GAIN Entrepreneurship masterclass series designed to empower African youths. We have two series so far focused on training women and three series now open to both male and female. We are happy to have this partnership with Afreximbank again this year to provide invaluable entrepreneurial support to young entrepreneurs.
“In 2022, we trained participants from 29 countries across Africa. Beyond the training, participants will gain in-depth knowledge, build connections, and access mentorship from experienced global mentors, all of which will have a successful impact on their business growth,” Momoh disclosed.
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.
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