The Afreximbank Academy (AFRACAD) has been honoured with the Silver Award in the Professional Development category at the 2025 European Foundation for Management Development (EFMD) Excellence in Practice Awards, recognising its landmark Certificate of Trade Finance in Africa (COTFIA) programme.
Presented in Stockholm, Sweden, the award celebrates AFRACAD’s efforts in advancing trade finance education and professional excellence across Africa through a partnership involving Afreximbank, FCI, and the Onsi Sawiris School of Business at the American University in Cairo (AUC).
Launched in 2016 as the Certificate of Finance in International Trade (COFIT), the COTFIA initiative was developed under Afreximbank’s Factoring Working Group to build capacity in trade finance and factoring, aligning with the Bank’s mission to strengthen Africa’s trade ecosystem.
“We are deeply grateful for this award, which highlights Afreximbank’s continuing impact on the professional development of trade experts across the continent,” said Stephen Tio Kauma, Afreximbank’s Group Managing Director for Human Resources. He added that the EFMD platform offered an opportunity to project Afreximbank’s strategic vision to an international audience.
Dr. Anan Shendy of AFRACAD represented the Bank at the Stockholm event, where he presented the award-winning case study, “Transcending Borders: A Pan-African Partnership to Support Trade Professionals,” alongside partners from AUC and FCI.
Since partnering with AUC in 2021, AFRACAD has enhanced the academic rigour of the programme and expanded its reach. To date, over 150 professionals across Africa have completed the training, gaining critical trade finance and regulatory expertise to strengthen the continent’s financial systems.
EFMD, with over 950 member institutions in 90 countries, is a global benchmark for excellence in management and executive education. The Excellence in Practice Awards recognise the world’s most effective collaborations between corporations and learning institutions.
