ITFC To Commemorate 10 Years Of Sub-Saharan Africa Investment

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), will commemorate its 10thanniversary during the 5th edition of the Rebranding Africa Forum (RAF), themed “Green economy in Africa: Challenges and Opportunities”,in Burkina Faso from 5-6 October 2018.

This annual RAF event, which seeks to identify tools to accelerate the emergence of the Africa, is being held for the first time on the continent, following four previous editions in Belgium. In recognition of its ongoing investments in the continent to support the development of a fair and sustainable trade sector amongst its member countries, ITFC has been invited to launch the prestigious event with a keynote address by its CEO, Eng. Hani Salem Sonbol.

During the forum, the leading Islamic trade finance institution will host a series of strategic events to recognize and honor its key African partners while announcing important new initiatives designed to advance trade development across Sub-Saharan Africa (SSA), a priority region as per ITFC Strategy. As part of its activities, ITFC will host a bespoke, high-level event for African Heads of States, dignitaries and other key stakeholders from the Middle East and Africa region under the theme, “10 Years of Advancing Trade & Improving Lives in Africa, to the next 10”.

“Over the past 10 years, ITFC has been striving to advance trade and improve lives in SSA through a range of strategic financing initiatives and to highlight the region’s economic potential to other key Islamic nations. We are therefore extremely honored to have been invited to play such a prominent role in this edition of RAF, and to have the opportunity to renew our partnerships with key African leaders and corporations. We are certainly optimistic about ITFC’s role in the next 10 years of the acceleration of African economies.” said Sonbol.

Additionally, ITFC will be announcing the launch of an important initiative – the West Africa SMEs Program – which aims to improve access to trade finance for SMEs in 8 West African countries through the provision of Financing Lines, Capacity Building and Advisory Services to partner banks and SMEs.

Since 2008, ITFC has provided around US$4 billion of financing to support trade development in the SSA region. One of ITFC’s largest interventions has been in the development of the West African cotton sector. During the forum, ITFC will conduct a series of field visits to observe the outcomes of its financing interventions and investments in Burkina Faso’s thriving cotton industry.

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