Sterling One Foundation partners Afreximbank for ASIS 202
By Esther Agbo
The Sterling One Foundation has announced its partnership with the African Export-Import Bank (Afreximbank) for the third edition of the Africa Social Impact Summit (ASIS), scheduled for July 25-26, 2024, in Lagos, Nigeria.
This collaboration aims to enhance private sector participation in achieving the Sustainable Development Goals (SDGs) across Africa.
The event will address strategies to reduce investment risks on the continent, thereby boosting impact investment flows, influencing policy discussions, and fostering effective partnerships for sustainable development.
Private sector involvement is crucial for achieving the SDGs due to its capacity for scaling initiatives and championing responsible consumption through various policies and projects.
As a leading financial institution in Africa, Afreximbank’s involvement is expected to significantly contribute to development financing discussions.
The CEO of the Sterling One Foundation, Mrs. Olapeju Ibekwe, explained that ”ASIS brings together leaders from across sectors to share learnings, ideas, and plans for accelerating the achievement of the Sustainable Development Goals in Africa.
“Trade is a fundamental piece of this development process, and there are few organizations in Africa with the insights to drive increased productivity for the continent like Afreximbank.”
The Regional Chief Operating Officer for Anglophone West Africa at Afreximbank, Mr. Eric Monchu Intong, emphasised the strategic importance of the partnership.
He highlighted the bank’s ongoing initiatives, such as the Intra-African Trade Fair and the African Medical Centre of Excellence, which are pivotal to Africa’s economic development.
The collaboration with the Sterling One Foundation is seen as an opportunity to share knowledge on Afreximbank’s innovative financing solutions aimed at increasing Africa’s share of global trade.
He said, “We are excited about this partnership as it gives us an opportunity to strengthen alliances for our shared destiny, prosperity and the economic emancipation of our continent under the African Union Agenda 2063, the Africa we want.
“We are particularly pleased with its multisectoral approach as we understand that one organisation or or one sector alone cannot drive the level of sustainable growth the continent requires.”
Mr. Intong stated that Afreximbank has led several significant economic development projects across Africa.
These include the Intra-African Trade Fair (IATF), which generated deals worth US$43.8 billion in 2023, and the African Medical Centre of Excellence (AMCE), a 500-bed hospital under construction in Abuja, Nigeria, focusing on haematology, oncology, cardiology, and general medicine, along with a nursing and medical school.
The AMCE will be expanded to five other African countries to establish a medical tourism hub. Other initiatives include the AfCFTA Adjustment Fund, the Afreximbank Africa Collaborative Transit Guarantee Scheme, and the Afreximbank Africa Trade Centre.
The Africa Social Impact Summit will take place at the Eko Convention Center in Lagos, featuring panel discussions on climate action, healthcare, education, youth development, and green financing.
The event will also include an Investors’ Roundtable in collaboration with the Lagos State Government and a Deal Room for impact-focused SME entrepreneurs.
