Obi Emekekwue, Director and Global Head, Communications and Events Management.

Chandi Mwenebungu, Director, Treasury and Markets.

 

 

The African Export-Import Bank (Afreximbank) has appointed two of its staff to Directorship positions to head its Communications and Events Management Department and Treasury and Markets Department respectively.

The bank in a statement, named Obi Emekekwue as Director and Global Head of the Communications and Events Management Department while Chandi Mwenebungu becomes Director of the Treasury and Markets Department.

Prior to the appointments, Mr. Emekekwue and Mr. Mwenebungu were respectively heads of the Communications and Treasury functions at the Bank at the level of Senior Managers.

Chandi Mwenebungu, Director, Treasury and Markets.

 

The Bank’s Communications and Treasury functions, which had operated as units, were upgraded to full departments in 2017 as part of a general reorganization of the Bank.

Mr. Emekekwue joined Afreximbank in 2012 and prior to that, he had worked for the United Nations from 1994, serving last in the Press Office of the Department of Public Information at the New York Headquarters.

His United Nations career included serving variously as Public Information Officer, Media Specialist and Programme Specialist in several agencies, including the United Nations Development Programme (UNDP) and the United Nations Population Fund (UNFPA), and as Communications Specialist at the United Nations Country Team in Papua New Guinea from 2006 to 2007.

Mr. Emekekwue began his professional career at the Nigerian Television Authority, Ibadan, followed by a short stint at the Federal Radio Corporation of Nigeria, before joining the News Agency of Nigeria (NAN) where he served as the United Nations/North America Bureau Chief from 1989 to 1994.

He holds a Master of Arts in international relations and a postgraduate certificate in international law and diplomacy from St. John’s University, New York, and a Bachelor of Arts in mass communication from the University of Nigeria, Nsukka.

Also, Mr. Mwenebungu, who joined Afreximbank in 2013, has over 20 years’ experience in the area of treasury and finance working in the finance services industry in Africa and Europe.

He holds a master’s degree in accounting and finance. He is a Fellow of the Association of Certified Chartered Accountants (FCCA), and an associate member of the Association of Corporate Treasurers (ACT).

He previously worked as the Head of Treasury and Investments for International Insurance Company of Hannover (Inter-Hannover) in London and Cigna International (Europe) in Glasgow, United Kingdom.

Prior to his relocation to the United Kingdom, he worked in the treasury function of Nedbank Malawi Limited.

Meanwhile, the African Export-Import Bank (Afreximbank) has signed a three-year $300 million revolving global credit facility agreement to provide financing to Export Trading Company (ETC) in a bid to support and promote intra-African trade.

According to a statement from the bank, the facility agreement, signed recently between Afreximbank and ETC, provides for the funds to be used to support ETC Group’s regional agricultural trade business and those of its subsidiaries across Africa.

The facility will, among other things, finance the sourcing, processing and transportation of soft commodities of African origin to markets and also to support procurement of key agricultural inputs, such as fertilizer, seeds and other chemicals, which would
be supplied across the continent.

Afreximbank President, Dr. Benedict Oramah, said that
deployment of the facility would address some of the key bottlenecks faced by African agricultural exporters, particularly small and medium-scale enterprises operating in agro-processing and light manufacturing sub-sectors, in effectively competing in international trade and increasing their participation in regional and global agricultural value chains.

According to him, it will also improve market access by allowing ETC to create linkages to regional and international markets by aggregating large volumes of agricultural produce that would be traded across regions.

The President described ETC Group as a catalyst for the growth of intra-African trade, noting that it was creating strong and reliable agricultural value chains across Africa by bringing agricultural produce from the farm gate to processing facilities and processed/manufactured goods to the market.

ETC Group, which was founded in Kenya in the 1960s but subsequently moved to Tanzania and now has its African regional headquarters in Mauritius, trades mainly in commodities, concentrating on fertilizer, maize, rice, oil seeds, cashew nuts, sesame seeds, pulses, wheat, cotton, coffee, and sugar.

It has a footprint across 45 countries in Africa and overseas and operates an integrated agricultural value chain business model cutting across agronomy activities; sourcing at farm gate level; processing and other transformation activities; transport and logistics; and trading.

Afreximbank’s Intra-African Trade Strategy identifies facilitating the emergence and expansion of export trading companies as a quick way of accelerating the growth of intra-African trade.