From November 5 to 8, 2024, the city of Windhoek, Namibia, will host a major gathering of Africa’s top bankers, financiers, legal professionals, insurers, and regulatory experts for the annual Afreximbank Trade Finance Seminar (ATFS) and Factoring Workshop.
This highly anticipated event will bring together trade finance specialists from across the continent to discuss emerging trends, explore innovative strategies, and address Africa’s trade finance challenges, all while fostering collaboration across sectors.
The annual seminar, organized by the African Export-Import Bank (Afreximbank), will feature participants from across the African continent, all united by a shared goal: to strengthen the African trade finance ecosystem.
Gwen Mwaba, Managing Director of Trade Finance and Correspondent Banking at Afreximbank, emphasized the significance of the event in a pre-seminar address.
“This Seminar aims to equip participants with essential knowledge and skills to navigate the complexities of financing transactions and structuring viable trade deals amidst increasing and heightened global economic uncertainty.”
Gwen Mwaba, Managing Director of Trade Finance and Correspondent Banking at Afreximbank
The event is organized by the African Export-Import Bank (Afreximbank) and will offer participants an opportunity to gain valuable insights into the complexities of trade financing and deal structuring.
With Africa’s trade finance gap estimated at a staggering US$90 billion to US$120 billion annually, the seminar comes at a critical juncture as the continent grapples with a shortage of trade finance options, exacerbated by the retreat of international banks from the African market.
The four-day seminar, according to Gwen Mwaba will address crucial trends and tools in trade finance while offering participants valuable training in innovative strategies. This is particularly important given the current global economic challenges, which are increasing in both complexity and uncertainty.
Gwen Mwaba noted the event will feature technical training workshops and discussions on cutting-edge topics, providing attendees with the tools they need to thrive in this evolving environment.
One of the highlights of the event will be the keynote address by Titus Ndove, Executive Director at Namibia’s Ministry of Finance and Public Enterprises.
Ndove’s speech will focus on Namibia’s efforts to promote both intra-African trade and global trade facilitation. His address will underscore the country’s commitment to fostering economic growth and development through enhanced trade finance mechanisms.
Collaboration for Economic Growth
The overarching goal of the seminar is to foster collaboration among Africa’s key trade finance stakeholders, enabling them to share insights and strategies that will strengthen Africa’s trade finance landscape.
“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.”
Gwen Mwaba, Managing Director of Trade Finance and Correspondent Banking at Afreximbank
The importance of trade finance in driving economic growth and development across Africa cannot be overstated. By providing businesses with the tools and knowledge to structure viable trade deals, the seminar seeks to unlock new opportunities for economic advancement, creating a ripple effect that extends from local enterprises to government-led development initiatives.
A particular highlight of the event will be the full-day Factoring Workshop scheduled for November 8. The workshop, titled “Solving the African Micro Small Medium Enterprise (MSMEs) Trade Finance Gap through Factoring and Supply Chain Finance,” will focus on alternative financing methods for Africa’s MSMEs, which are often overlooked by traditional lenders.
Factoring, a financial transaction in which a business sells its accounts receivable to a third party at a discount, provides MSMEs with immediate working capital, thus enabling them to participate more actively in the regional and global trade market.
The Afreximbank Trade Finance Seminar and Factoring Workshop are expected to provide attendees with actionable insights into the challenges and opportunities within Africa’s trade finance landscape.
Mwaba emphasized the collaborative spirit of the event, noting, “Our aim is to foster a collaborative environment where key stakeholders can share insights and strategies to strengthen Africa’s trade finance landscape and unlock new opportunities for growth.”
As Africa looks to unlock its vast potential through enhanced trade, the seminar is set to play a pivotal role in shaping the future of the continent’s trade finance sector.
The gathering in Windhoek will undoubtedly serve as a platform for advancing Africa’s trade finance capabilities, ensuring that the continent is well-prepared to navigate the global trade landscape in the years to come.
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