‘Afreximbank’s quality centre will raise competitiveness, attract investment’

The quality assurance project targeted across the continent by the African Export-Import Bank (Afreximbank) will raise the confidence of importers, enhance the competitiveness and attractiveness of “Made-In-Africa” products.

Besides, the African Quality Assurance Centres (AQACs) would generate new employment opportunities and address the key barriers affecting trade in Africa by strengthening compliance with international trade standards and with the technical requirements of export markets.

These were the observations of Afreximbank President, Prof. Benedict Oramah, as he received the certificate of occupancy for a five-hectare plot of land granted by the government of Imo State for the development of an internationally accredited quality assurance centre in the state.

He said the bank is supporting the establishment of such international projects across Africa to support the continent’s industrialisation and ensuring that African products are manufactured to international standards and are able to trade in international market.

The AQAC in Imo State will become one of the three being developed by Afreximbank in Nigeria. The others are being developed in Ogun and Kaduna States.

The Imo AQAC will offer conformity assessment services, including testing, inspection and certification and will include a training academy to transfer know-how in conformity assessment to the local market.

Afreximbank announced the AQAC initiative in October 2019 to tackle non-compliance with international standards and technical regulations.

The emergence of AQACs across Africa is expected to support the implementation of the African Continental Free Trade Area agreement by making it possible for local entities to obtain international accreditation.

Imo State Governor, Emeka Ihedioha, who presented the certificate of occupancy to the bank during a meeting at the Imo State Government House in Owerri, pledged the commitment of the government and people of the state to seeing to the successful execution of the project.