Afreximbank launches African gastronomy and culinary arts programme

Cairo, 15 November 2023: The African Export-Import Bank (Afreximbank) in Cairo launched an African Gastronomy and Culinary Arts Programme under its Creative Africa Nexus Initiative (CANEX).

Launched during the third Intra-African Trade Fair (IATF2023), the CANEX African Gastronomy and Culinary Arts Programme is the newest vertical within the CANEX programme and featured nine celebrity chefs from Africa and the Caribbean taking part in masterclasses, live cooking demonstrations and conversations with culinary experts.

The inaugural session of the programme, concluded with a live demonstration, dubbed the “Jollof Wars” to highlight the unique flavours and cultural diversity of Jollof rice among Nigeria, Ghana and Senegal.

Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said that the introduction of the programme would help to refocus continental efforts towards local food production to ensure food security, reduce high food costs and imports and minimise the impact of external shocks on Africa’s food supply chain.

He described the programme as an opportunity for the promotion of African cuisine to develop trade and local food value chain through promotion of local foods, highlight their superior health benefits to local and regional communities and support local restauranteurs and entrepreneurs to upgrade the dining experience through skills development and capacity building.

The programme would also improve access to finance to help build sector infrastructure, such as restaurants, franchises and packaged goods production plants, to develop the local food value chains and increase employment opportunities.

The launch featured a live demonstration and conversation with the Afreximbank President and Dr. Pamela Coke-Hamilton, Executive Director, International Trade Center, tracing the African food journey and its influence on food culture in the Caribbean, the Americas and globally.

The programme which was developed by African Food Changemakers had participating chefs Davisha Burrowes, Development Chef, Yolk Brands, Barbados; Christian Abegan, CEO Abegan & Co, Cameroon; Natasha de Bourg, President, Trinidad Culinary Limited, and Chef Stone of Red Dish Chronicles, Nigeria.

Prof. Oramah said that the programme would develop an enabling ecosystem from farm to table and would address issues such as food sustainability, GMOs, local farming, the business of franchising and the art of African cuisine.

Afreximbank introduced its African Gastronomy Development Framework to finance the development and expansion of food service market infrastructure, support production of local packaged goods and other value-add products and facilitate training and capacity development of African chefs and sous chef, food technologists, nutritionists, food safety specialist, etc.

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About the Intra-African Trade Fair

Organised by the African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, the Intra-African Trade Fair (IATF) is intended to provide a unique platform for facilitating trade and investment information exchange in support of increased intra-African trade and investment, especially in the context of implementing the African Continental Free Trade Agreement (AfCFTA). IATF brings together continental and global players to showcase and exhibit their goods and services and to explore business and investment opportunities in the continent. It also provides a platform to share trade, investment and market information with stakeholders and allows participants to discuss and identify solutions to the challenges confronting intra-African trade and investment. In addition to African participants, the Trade Fair is also open to businesses and investors from non-African countries interested in doing business in Africa and in supporting the continent’s transformation through industrialisation and export development.

For more information, please visit www.intrafricantradefair.com

About Afreximbank

African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of 2022, Afreximbank’s total assets and guarantees stood at over US$31 billion, and its shareholder funds amounted to US$5.2 billion. The Bank disbursed more than US$86 billion between 2016 and 2022. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”).

For more information, please visit: www.afreximbank.com

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Deborah Ross
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BrandComms
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