Afreximbank Academy Wins Prestigious EFMD Silver Award for Excellence in Professional Development
The Afreximbank Academy (AFRACAD) has been awarded the Silver Award in the Professional Development category at the 2025 European Foundation for Management Development (EFMD) Excellence in Practice (EiP) Awards, recognising its outstanding contribution to professional learning and trade finance capacity-building across Africa.
The accolade, presented earlier this month in Stockholm, Sweden, celebrates AFRACAD’s flagship Certificate of Trade Finance in Africa (COTFIA) programme — a pioneering initiative that has strengthened trade finance expertise and fostered professional excellence on the continent for nearly a decade. 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) under the auspices of Afreximbank’s Factoring Working Group chaired by Mrs Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development, the programme was developed in collaboration with FCI, the University of Malta, and Quarterback. It aims to enhance Africa’s trade finance and factoring expertise in line with Afreximbank’s strategic vision to strengthen the continent’s trade ecosystem.
Commenting on the recognition, 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 more than an opportunity to 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 jointly delivered 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 rigour and regional relevance. Since then, the academy has taken on the responsibility of managing and scaling COTFIA, institutionalising Afreximbank’s capacity-building mandate across the continent.
To date, the programme has trained over 150 professionals from various African countries, equipping them with the technical, regulatory, and practical skills needed to strengthen trade finance systems and expand intra-African and global trade opportunities.
With over 950 member institutions in more than 90 countries, EFMD is the world’s largest international network for management development. The Excellence in Practice Awards, now in their 18th year, are recognised globally as a benchmark for excellence in executive education, celebrating impactful partnerships between organisations and learning institutions.
