Sustainable development in Africa is taking a significant leap forward, thanks to a strategic partnership between Sterling One Foundation and Afreximbank. This collaboration, announced on July 15, 2024, aims to boost private sector participation in achieving the Sustainable Development Goals (SDGs) across the continent.
At the heart of this initiative is the African Social Impact Summit (ASIS), with its third edition scheduled for July 25-26, 2024, in Lagos, Nigeria. This crucial event will bring together leaders from various sectors to share knowledge and develop strategies to accelerate the realization of SDGs in Africa.
Afreximbank’s involvement, as the continent’s premier multilateral financial institution dedicated to financing and promoting African trade, brings a vital dimension to this collaboration. Eric Monchu Intong, Afreximbank’s Regional Chief Operating Officer for Anglophone West Africa, emphasizes the importance of this partnership: « This alliance allows us to strengthen our commitment to the prosperity and economic emancipation of our continent, in line with the African Union’s Agenda 2063. »
Afreximbank’s track record in driving African development is impressive. The bank has already demonstrated its commitment through various initiatives, such as the Intra-African Trade Fair, which generated transactions worth $43.8 billion in 2023, and the African Medical Centre of Excellence project in Abuja.
The summit will address crucial themes including climate action, healthcare, education, youth development, and green financing. It will also feature a pre-event investor roundtable and a dedicated space for impact-focused SME entrepreneurs.
Olapeju Ibekwe, CEO of Sterling One Foundation, underscores the critical role of trade in the development process: « Trade is a fundamental element of this process, and Afreximbank possesses the knowledge necessary to increase the continent’s productivity. »
This partnership between Sterling One Foundation and Afreximbank perfectly illustrates how cross-sector collaborations can catalyze sustainable development in Africa. By combining Afreximbank’s financial expertise with Sterling One Foundation’s commitment to social impact, this initiative promises to chart a promising path towards achieving the SDGs on the African continent.
Afreximbank’s participation is expected to fuel discussions in the field of development financing, leveraging its unique position as Africa’s leading trade finance institution. The bank’s involvement underscores the crucial link between trade, finance, and sustainable development, positioning it as a key driver in Africa’s journey towards achieving the SDGs.
As Africa’s premier multilateral trade finance institution, Afreximbank’s role in this partnership goes beyond mere participation. It represents a strategic alignment of financial resources, trade expertise, and development goals, potentially reshaping the landscape of sustainable development financing in Africa. R.I
+ There are no comments
Add yours