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AFREXIMBANK - African Export-Import Bank

10/27/2021 | Press release | Distributed by Public on 10/27/2021 04:08

Afreximbank establishes partnership with the African Technology and Policy Studies Network (ATPS), providing US$500,000 support

Cairo, 27 October 2021: - African Export-Import Bank (Afreximbank) is pleased to announce its partnership and support to the African Technology Policy Studies Network (ATPS), which will address gaps in operational costs as well as funding for ongoing activities over a three-year period concluding in 2023. Afreximbank's US$500,000 financial support will facilitate the implementation of development programmes on the continent and cover the shortfall in ATPS' resources.

Think Tanks play a crucial role in Africa as catalysts for ideas, helping develop material solutions to some of the continent's most complex and intractable challenges. As actors equipped to understand intensely local issues, secure buy-in from relevant players, and establish sustainable partnerships across sectors and interests, these institutions are vital to maintaining and improving governance mechanisms through evidence-based decision-making for Africa's development.

The ATPS boasts an impressive record of activity: having worked in over 30 African countries; completed 150 STI research projects; published over 1000 research papers, journals, and policy briefs; developed 4 training manuals; trained over 8000 different stakeholders; and conducted over 75 training workshops on science, technology and innovation development in Africa. Moreover, the ATPS pioneered the first ever African Manifesto for Science, Technology, and Innovation.

Alongside a diverse range of partners, the ATPS has facilitated the commercialization of more than 110 technologies, created over 12,000 jobs, worked with over 50,000 farmers, established 350 SMEs, supported over 280 new businesses across Africa and created linkages with over 20 incubators and mini incubators across Africa.

This partnership aligns with Afreximbank's mandate to stimulate a consistent expansion and diversification of African trade to ultimately increase Africa's share of global trade. Strengthening and collaborating with indigenous knowledge based African institutions fits into the Bank's strategy.

As the provider of key platforms which encourage the commercialization and implementation of indigenous knowledge and solutions, the ATPS contributes significantly to sustainable development in Africa.

Prof. Benedict Oramah, President of Afreximbank, commented:

"I am delighted that the Bank has entered into this partnership with the African Technology and Policy Studies Network, which has shown through its record an unwavering commitment to intellectual integrity, imagination and ingenuity in the pursuit of sustainable development on this continent. Robust institutional capacity in Africa has, historically, been stymied by a shortage of funding for think tanks and their programmes - Afreximbank is pleased and proud to address this."

Dr. Nicholas Ozor, Executive Director of ATPS commented:

"I am very excited on this landmark partnership between the Afreximbank and the ATPS. Through this partnership, we will strive to tackle youth unemployment which is one of Africa's most pressing challenge, by the application of science, technology and innovation as a means for technological innovation development, commercialization and up-scaling of enterprises for job and wealth creation in Africa."

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About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis. Through the Pandemic Trade Impact Mitigation Facility (PATIMFA) launched in April 2020, Afreximbank has disbursed more than US$6.5 billion in 2020 to help member countries manage the adverse impact of financial, economic, and health shocks caused by the COVID-19 pandemic. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has completed the development of a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank's total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody's (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.afreximbank.com.

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About the African Technology Policy Studies Network (ATPS)

The ATPS is a transdisciplinary network of researchers, policymakers, private sector actors and the civil society that promotes the generation, dissemination, use and mastery of science, technology and innovation (STI) for African development, environmental sustainability and global inclusion. ATPS' mission is to "improve the quality of STI systems research, policy and practice by strengthening capacities and capabilities at individual, institutional and systemic levels in Africa. Established in 1994 with its Secretariat based in Nairobi, Kenya, the ATPS implements programs through members in National Chapters located in 30 countries (27 in Africa and 3 Diaspora chapters in the USA, UK and Australia). ATPS enjoys full diplomatic privileges in Kenya and has unique convening power and access to researchers, policymakers, practitioners, and civil society across Africa. ATPS has over 5000 international experts and 3000 stakeholders in over 51 countries in five continents with institutional partnerships worldwide. ATPS is the pioneering voice in science, technology and innovation in Africa and is currently ranked as the Best Top Science and Technology Think Tank, Best Network Think Tank, and the Think Tank with the Most Significant Impact on Public Policy in Africa among others according to the 2020 Global Go Think Tank Index Report. The ATPS Phase VIII Strategic Plan, 2017-2022 identifies four thematic priority areas of intervention namely: Agriculture, food and nutrition; Energy; Climate change and environment; and Health innovations.

For more details about the ATPS, kindly visit the website at: https://atpsnet.org/

Media Contact

Afreximbank: Amadou Labba Sall, [email protected]

ATPS: Ian Njuguna, [email protected]; [email protected]