Grow your Career with the Afreximbank Internship Program (USD 800 monthly stipend + travel and housing allowance)

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Closing Date: 31 October 2024

Grow your Career with the Afreximbank Internship Program (USD 800 monthly stipend + travel and housing allowance)

Afreximbank is searching for passionate students and postgraduates eager to make an impact on Africa’s trade landscape. Join the team, gain hands-on experience, and contribute fresh ideas!

Introduction

Afreximbank Group comprises of the African Export -Import Bank (Afreximbank) , the Fund for Export Development of Africa (FEDA), a private equity subsidiary, , the Pan African Payments and Settlements System (PAPSS) and Afrexinsure, a captive insurance subsidiary.

The African Export-Import Bank (Afreximbank) is a Multilateral Financial Institution established to finance and promote intra and extra -African trade. The shareholders comprise African governments, African private and institutional investors, and non-African private and institutional investors. The Bank was established under the twin constitutive instruments of an Agreement signed by member states and multilateral organizations, which confers the status of an international organisation on the Bank, as well as a charter governing its corporate structure and operations and signed by all shareholders.

The Bank is headquartered in Cairo, Egypt and currently operates branches in Harare, Zimbabwe (opened in November 1996); in Abuja, Nigeria (opened in January 2003); in Abidjan, Ivory Coast (opened in 2015); Kampala, Uganda (opened in 2019), Yaoundé Cameroon (opened in 2021) and Bridgetown, Barbados (opened in 2023). The private equity subsidiary FEDA is registered and based in Kigali, Rwanda, and Afrexinsure is registered in Mauritius and based in Cairo, Egypt. PAPSS is based in Cairo, Egypt.

Background to Internship Placement

Afreximbank Group recognises that as part of its mandate to promote and finance trade in Africa, it needs to facilitate a broader understanding of the problems of African trade and trade finance as well as the principles of trade finance, especially structured trade finance, which is its operating model. By offering good students a chance for an internship with the Group, it is expected that students will leave with a better knowledge of the Afreximbank Group mandate and operating model, which they will put to use as they develop their careers.. In return, it is expected that the interns will contribute fresh and diverse ideas to the operations of the Afreximbank Group.

Eligibility criteria

The Afreximbank Internship programme is open to students who are:

Students with proof of enrollment in full-time undergraduate or postgraduate study programmes in a recognised institution of learning in the year of the internship are preferred. The Bank will be especially interested in candidates whose field of study is in : economics, business administration, finance, accounting, social sciences, statistics, law, sciences, engineering or related fields;
Nationals of the Afreximbank Group member states, students of African descent in the diaspora and non-African students whose vision for the transformation of Africa resonates with the mission of Afreximbank.

Fluency in English or French and a working knowledge of the other. Knowledge of Arabic or Portuguese will be an added advantage, and
Candidates must be aged between 20 and 32 in the year in which they apply for the internship;
Any other applicants as may be approved by the President;

Children of Afreximbank staff are not eligible to participate in this programme.

Timing

The internships are offered for up to a maximum of six months twice a year (January and June). Applications for internships are received throughout the year.

Application procedure

Applicants are required to complete an online internship application form along with the following:

Letter of application;
copy of current CV;
copy of valid passport ;

certified copies of relevant academic certificates;
recommendation for internship from the institution of learning they are attending. This should include the proposed period of internship up to a maximum of six months;
Short Statement of Intent (maximum of 1 A4 page) indicating what they expect to gain out of the internship programme;

Internship commencement

Once accepted, successful candidates will be given two weeks within which to accept a conditional offer from the Bank, or it will expire. During this period, they will be expected to show evidence of the possession of medical insurance and group personal accident cover that is valid in Egypt (or their given internship location) during their period of internship. Failure to provide this before the start of the internship will lead to automatic withdrawal of the offer.

Interns will be expected to start their internship within the first month of each internship season. The internship is not virtual, and interns will be required to relocate to the headquarters of the group entity to which they are allocated. However, most internships will be at the Bank’s HQ in Cairo, Egypt.

On commencement, interns will be taken through the Group’s normal induction process and then attached to a particular primary department by the internship coordinator, who will select a mentor for the intern for the course of their internship period. However, through the period of their internship, they will be rotated around the various value chain departments of the Bank as deemed fit by the learning and performance team. At the end of the internship, candidates will be expected to write a report on what they have gained from the internship and how they intend to use this knowledge to promote the transformation of Africa and its diaspora.

Terms and Conditions of the Internship

Interns are expected to take care of their own upkeep during their internship programme, including accommodation, meals, transport, clothing, medical and group personal accident insurance. However, the Group will, on gratis terms, provide the following to successful interns:

Relevant residence visa for the duration of the internship programme, if so required.
Before commencement, coverage of reasonable return fare transport costs to their internship location using the most economical and direct routing from their institution of learning, in line with the Bank’s travel policy;

A monthly tax-free stipend of USD 800 and housing allowance of USD 400 for interns relocating from their home countries, payable at the end of each month, to help defray living costs;
Accommodation in a hotel chosen by the Bank (bed and breakfast only) for one week during the induction period, (on arrival to the internship location for interns, based on their previous location)