Introduction
The African Export-Import Bank (Afreximbank) is a Multilateral Financial Institution established for the purposes of financing and promoting intra and extra African trade. The shareholders comprise African governments, African private and institutional investors as well as 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) and Nairobi, Kenya (in 2015). More details can be found on our website www.afreximbank.com
Background to Internship placement
The Bank 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, and especially structured trade finance, which is its operating model. By offering good students a chance for an internship with the Bank, it is expected that they will leave with a better knowledge of the Bank’s mandate and operating model, which they will put to use as they develop their careers, no doubt with direct benefits to the Bank and generally, to trade in Africa. It is also expected that the interns will also contribute fresh and diverse ideas to the operations of the Bank. The Internship is open to students who are nationals of the Bank’s member countries a list of which is available on the Bank’s website. The programme attracts a lot of highly qualified candidates. Entry into the programme based on merit.
Eligibility criteria
The programme is open to students who are :
- Students with proven enrollment in full time undergraduate or post graduate 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 the following fields: economics, business administration, finance, accounting, social sciences, statistics, law or related fields;
- Nationals of the Bank’s member states;
- 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 (June and December). Applications for internship are received throughout the year.
Numbers
The Bank is only able to take two candidates in each season, making a total of four interns per year, unless specifically approved by the President. Only successful candidates are contacted.
Application procedure
Applicants are required to complete an online internship application form along with the following:
- Letter of application;
- copy of their current CV;
- copy of valid passport ;
- certified copies of relevant academic certificates;
- recommendation for internship from the institution of learning that 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 else 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.
On commencement, interns will be taken through the Bank’s normal induction process and then attached to a particular primary department, whose Head of Department will select a mentor for them during their internship period. However, through the period of their internship, they will be rotated around the various departments of the Bank as deemed fit by their mentor and Head of department.
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 intra and extra African trade.
Terms and conditions of 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 Bank will, on gratis terms, provide the following to successful interns:
- Before commencement, coverage of reasonable return fare transport costs to their internship location using the most economic and direct routing from their institution of learning, in line with the Bank’s travel policy;
- A monthly tax free stipend of USD 800 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, basing on their previous location;
- Transfer to the hotel on arrival and vice versa on departure at the end of a successful internship programme; and
- Relevant visa for the duration of the internship programme, if so required.
Other conditions
The hotel accommodation costs cannot be exchanged for cash;
- For purposes of managing competency requirements, all interns will be linked to the Associate grade in the Bank’s current grade structure. Any incidental allowances that may need to be applied (e.g. travel where required) will use this grade as the basis of award;
- Interns are neither contract nor permanent staff of the Bank and are therefore not entitled to any of the benefits that accrue to any of the Bank’s various categories of staff in any respect;
- Candidates can only intern with the Bank once and for a minimum period of 3 months and a maximum period of 6 months;
- Internship does not in any way offer the promise of employment of any sort with the Bank either before, during or after the internship; and
- Interns are expected to abide by the Bank’s regulations as highlighted in its various documents (including the staff manual) and to behave in a manner that is expected of all the Bank’s staff. In case of breach of any of the bank’s regulations, management reserves the right to terminate the internship programme and all attendant benefits with 1 day’s notice, without any obligation on the part of the Bank.