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 bank said the training programme 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 has been meticulously designed to equip young African entrepreneurs from various regions of the African continent with essential skills to foster the growth and expansion of their enterprises beyond their national borders.
Over a comprehensive six-week programme, participants will gain valuable insights into how to build and expand their businesses by leveraging the intra-African Market.
Participants will receive technical guidance, practical training, and business advisory from a faculty of international experts.
The bank stated further in a statement that this programme aims to enhance inclusivity in the implementation of the African Continental Free Trade Area (AfCFTA) by offering interventions that specifically support young Africans, women, and small and medium-sized enterprises.
The statement encourages interested individuals 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 ages 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
Yusuf Daya, Director, AU/AfCFTA Relations and Trade Policy, Afreximbank emphasised the crucial importance of capacitating 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 (AFRACAD).
“We look forward to an even more successful programme in 2024 following the highly impactful masterclass in 2022 which helped build the capacity of 200 entrepreneurs from across the continent,” Daya said.
Jerry Ojima Momoh, the Partnership Lead at GAIN, expressed his enthusiasm, stating, “This marks the fifth edition of the 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 males and females.
“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.”