The Executive Vice President of Intra-African Trade and Export Development at the African Export–Import Bank (Afreximbank), Mrs. Kanayo Awani, states that women are frequently excluded from economic and financial decision-making and overlooked by programs aimed at driving economic development and transformation, despite their proven ability and commitment to building successful businesses in Africa . ” From access to credit to securing investment, too often my sisters here in Africa find themselves treated as an afterthought. Is enough being done? No – and I won’t be satisfied until women across this continent, and in the diaspora, enjoy the same social and economic rights as their brothers, sons and husbands” she stressed.
In an interview with New African Women Magazine, Mrs. Kanayo Awani explained that Afreximbank recognizes the moral imperative to correct historical imbalances and the developmental rewards for Africa in empowering women as economic agents. She stated “that’s why we’ve devised and implemented a range of schemes targeting women. Prominent among these is our directing of grants to programmes designed to train young African – and, more often than not, female – entrepreneurs, like the Grand Africa Initiative (GAIN), which, began March 2024, started training 300 young African entrepreneurs (from across the continent) and equipping them with the skills to expand their businesses beyond individual national borders. From technical guidance to practical training and expert consultation, the programme has played its part in fostering the next generation of African women business leaders”.
The Executive Vice President of Afreximbank said the continent is estimated to have the highest rate of female entrepreneurial activity in the world adding that Intra-African trade is not just an economic imperative; but also a vital pathway to empowering these women, enabling them to become even stronger drivers of Africa’s economic growth.
As the first ever and only female EVP at Afreximbank, Mrs Kanayo Awani stressed on the need to address the unique challenges and barriers faced by women in trade, including limited knowledge of opportunities in export markets and ways to integrate into regional value chains. She said empowering women in intra-African trade and ensuring that the benefits of the African Continental Free Trade Area( AfCFTA) are equally distributed is not only a priority but a necessity for inclusive economic growth across the continent. “Given that intra-African trade only makes up around 15% -18% of total African trade, women are a massive untapped resource. Women entrepreneurs are active in diverse sectors, from agriculture to clothing and textiles, yet their full potential is not being realized”.
She noted that training is a consistent theme in her outfits efforts to address gender inequalities, stating that Afreximbank’s Export SME Development Programme (ESDP) has significantly benefited more than 3,000 SMEs of which 83 percent are owned by women who have also benefited from a series of accelerators, incubators, and workshops as part of the programme, which spans 45 countries, including 38 in Africa and seven in the Caribbean.
Mrs Kanayo Awani is a Nigerian banking executive who currently serves as the Executive Vice President of the Intra-African Trade Bank, African Export-Import Bank. Awani in her leadership position at Afreximbank contributed to advancing intra-African trade and industrialization, she has played a central role in supporting initiatives such as the African Continental Free Trade Area (AfCFTA). With an extensive career in both private and development finance. Awani has contributed to expanding the bank’s asset base and facilitating substantial trade financing across the Africa continent.
ForshesAfrica News
Leave a Reply