By Ayomide Otitoju
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 (EiP) Awards. The recognition celebrates AFRACAD’s impactful learning initiative, the Certificate of Trade Finance in Africa (COTFIA) programme, for its contribution to advancing trade finance expertise and professional excellence across the African continent.
The award, presented in Stockholm, Sweden, acknowledges COTFIA as a pioneering capacity-building programme 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 Afreximbank’s Factoring Working Group (FWG) chaired by Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, the programme was developed with the University of Malta, FCI, and Quarterback to strengthen Africa’s trade finance and factoring 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 Africa. Beyond the recognition, it allowed us to amplify Afreximbank’s mission and strategic vision before an international audience.”
Dr. Anan Shendy, representing AFRACAD at the conference, presented the Bank’s award-winning case study, “Transcending Borders: A Pan-African Partnership to Support Trade Professionals,” at the Stockholm School of Economics, alongside partners from AUC and FCI.
Since partnering with AUC in 2021, AFRACAD has strengthened the programme’s academic rigour and regional relevance, institutionalising and scaling Afreximbank’s trade finance capacity-building initiatives. To date, over 150 professionals from across Africa have completed the programme, gaining vital technical, regulatory, and practical skills to drive intra-African and global trade.
With a network of more than 950 member institutions across 90 countries, EFMD is the world’s largest international network for management development. Its Excellence in Practice Awards, now in their 18th year, are regarded as a global benchmark for outstanding partnerships in executive education and professional development.
