The African Import-Export Bank (Afreximbank) will provide funding of $ 500,000 to the African Technology Policy Studies Network (ATPS), in order to invest in operational costs and finance ongoing activities on a three-year period ending in 2023.
For Afreximbank, this partnership is in line with its strategy of promoting “the coherent expansion and diversification of African trade in order to increase Africa’s share in world trade.” Strengthening and collaborating with African institutions based on indigenous knowledge is part of the Bank’s strategy “.
According to Benedict Oramah, president of the bank, “The African Technology and Policy Studies Network has demonstrated, through its track record, an unwavering commitment to intellectual integrity, imagination and ingenuity in the pursuit sustainable development on this continent ”.
For his part, ATPS Executive Director Nicholas Ozor said that with this partnership, “ATPS strives to tackle youth unemployment, which is one of the challenges urgently needed in Africa, by implementing science, technology and innovation as a means of technological innovation development, commercialization and scaling up of enterprises for the creation of jobs and wealth in Africa.
At the end of 2020, Afreximbank’s total assets and guarantees stood at US $ 21.5 billion, and its shareholders’ funds amounted to US $ 3.4 billion. Afreximbank disbursed more than $ 42 billion between 2016 and 2020.
