International Islamic Trade Finance Corporation (ITFC) to mark 10 years of Sub-Saharan Africa Investment at upcoming Rebranding Africa Forum
The International Islamic Trade Finance Corporation (ITFC),
a member of the Islamic Development Bank Group (IsDB), will commemorate its 10th anniversary
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.
About the International Islamic Trade and Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic
Development Bank (IsDB) Group. It was established with the purpose of advancing trade among
OIC member countries, which would ultimately contribute to the overarching goal of improving
socioeconomic conditions of the people across the world. Commenced operations in January 2008
(Muharram 1429H), ITFC has since consolidated all trade finance businesses that used to be
handled by various windows within the IsDB Group. Earning the A1 rating by Moody’s reflects
the Corporation’s efficiency in service delivery by responding swiftly to customer needs in a
market-driven business environment.
Since 2008, ITFC has provided more than US$40.2 billion of trade financing to OIC Member
Countries, making the Corporation the leading provider of trade solutions for OIC Member
Countries’ needs. With a mission of being a catalyst for trade development among OIC Member
Countries and beyond. The Corporation helps entities in Member Countries gain better access to
trade finance and provides them with the necessary trade-related capacity building tools, which
would enable them to successfully compete in the global market.
Source: www.thepressradio.com/Ghana/ Dickson Boadi
