The Afreximbank Academy (AFRACAD) has earned the Silver Award in the Professional Development category at the 2025 European Foundation for Management Development (EFMD) Excellence in Practice (EiP) Awards, recognizing its impact on professional learning and capacity building across Africa.
The award, presented earlier this month in Stockholm, Sweden, honors AFRACAD’s Certificate of Trade Finance in Africa (COTFIA) programme, a pioneering initiative that has strengthened trade finance expertise and professional standards across the continent. The programme is implemented by Afreximbank in partnership with 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 programme was developed under Afreximbank’s Factoring Working Group (FWG), chaired by Mrs. Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development. In collaboration with FCI, the University of Malta, and Quarterback, the initiative was designed to build Africa’s trade finance and factoring capacity, aligning with Afreximbank’s broader mission to strengthen the continent’s trade ecosystem.
Commenting on the achievement, Stephen Tio Kauma, Group Managing Director, Human Resources at Afreximbank, said:
“We are deeply grateful for this award which highlights Afreximbank’s continuing impact on the professional development of trade experts across the continent. Participating in the EFMD Conference was far more than an opportunity to present our case or receive recognition, it was a platform to amplify the vision, mission, and strategic mandates of Afreximbank and AFRACAD before an international audience.”
Representing the Bank at the EFMD Conference, Dr. Anan Shendy of AFRACAD presented the Bank’s award-winning case study, “Transcending Borders: A Pan-African Partnership to Support Trade Professionals,” before a distinguished audience and judging panel at the Stockholm School of Economics. The presentation was delivered jointly with representatives from AUC and FCI.
In 2021, AFRACAD partnered with the Onsi Sawiris School of Business at AUC to enhance the programme’s academic rigor and regional relevance. Since then, AFRACAD has assumed responsibility for managing and expanding COTFIA, effectively institutionalizing Afreximbank’s long-term capacity-building initiatives.
To date, the programme has trained more than 150 professionals from across Africa, equipping them with the technical, regulatory, and practical expertise needed to drive growth in trade finance and unlock new opportunities in intra-African and global commerce.
With a membership base of over 950 institutions in more than 90 countries, EFMD is the world’s largest international network for management development. Over the past 18 years, its Excellence in Practice (EiP) Awards have become a global benchmark for outstanding collaborations between organizations and academic institutions, positioning recipients among the foremost innovators in professional learning and executive education worldwide.
