Afreximbank Internship Opportunities for African Students

Aug 28, 2024

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The Afreximbank Group includes Afreximbank, FEDA, PAPSS, and Afrexinsure, a captive insurance subsidiary.

Afreximbank is a multilateral financial institution that finances and promotes intra- and extra-African trade. Its shareholders include African governments, as well as private and institutional investors from Africa and abroad.

The Bank was founded on two documents: an Agreement signed by member states and multilateral organizations that granted the Bank international organization status, and a charter that outlines its corporate structure and operational guidelines, which was approved by all shareholders.

Headquartered in Cairo, Egypt, the Bank has established branches in several locations: Harare, Zimbabwe (opened in November 1996); Abuja, Nigeria (opened in January 2003); Abidjan, Ivory Coast (opened in 2015); Kampala, Uganda (opened in 2019); Yaoundé, Cameroon (opened in 2021); and Bridgetown, Barbados (opened in 2023).

FEDA, the private equity subsidiary, is registered and located in Kigali, Rwanda, while Afrexinsure is registered in Mauritius and operates from Cairo, Egypt. PAPSS is also based in Cairo, Egypt. For further information, please visit our website at www.afreximbank.com.

Internship Placements

The Afreximbank Group acknowledges that fulfilling its mission to promote and finance trade across Africa necessitates a deeper comprehension of the challenges associated with African trade and trade finance, as well as the foundational principles of trade finance, particularly structured trade finance, which serves as its operational framework.

By providing promising students with internship opportunities within the Group, it is anticipated that they will gain a more profound understanding of the Afreximbank Group’s mandate and operational model, which they can leverage in their future careers.

In exchange, it is hoped that the interns will bring innovative and varied perspectives to the Afreximbank Group’s operations.

The Afreximbank Internship Opportunities for African Students is available to students who are citizens of the Bank’s member countries, a list of which can be found on the Bank’s website; it also welcomes students of African descent living abroad and non-African students whose aspirations for Africa’s transformation align with the Afreximbank Group’s mission.

The program seeks to attract highly qualified candidates, with admission based on merit.

Eligibility Criteria

The Afreximbank Internship Opportunities for African Students program is available to students who meet the following requirements:
Preference will be given to individuals who can provide evidence of enrollment in full-time undergraduate or postgraduate programs at an accredited educational institution during the internship year. The Bank is particularly interested in candidates pursuing studies in fields such as economics, business administration, finance, accounting, social sciences, statistics, law, sciences, engineering, or related disciplines.
Eligible candidates include nationals from Afreximbank Group member states, students of African descent residing abroad, and non-African students whose aspirations for Africa’s transformation align with Afreximbank’s mission.
Proficiency in English or French is required, along with a working knowledge of the other language. Familiarity with Arabic or Portuguese will be considered an additional asset.
Applicants must be between the ages of 20 and 32 during the year they apply for the internship.
Other applicants may be considered upon approval by the President.
Children of Afreximbank employees are not permitted to participate in this program.

Timing

Afreximbank Internship Opportunities for African Students are available for a maximum duration of six months, offered twice annually in January and June. Applications for internships are accepted year-round.

Numbers

The Group can accommodate only a limited number of candidates in each cohort, and only those selected will be contacted.

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 Initiation

Upon acceptance, successful candidates will have a two-week period to accept a conditional offer from the Bank, after which the offer will no longer be valid. During this timeframe, candidates must provide proof of valid medical insurance and group personal accident coverage applicable in Egypt (or their designated internship location) for the duration of their internship. Failure to submit this documentation prior to the internship’s commencement will result in the automatic retraction of the offer.
Interns are expected to begin their internship within the first month of each internship season. The internship is not conducted virtually; therefore, interns must relocate to the headquarters of the respective group entity to which they are assigned. Most internships will take place at the Bank’s headquarters in Cairo, Egypt.
Upon starting, interns will undergo the Group’s standard induction process and will be assigned to a specific primary department by the internship coordinator, who will also designate a mentor for the intern throughout the internship duration. Additionally, interns will experience rotations through various departments within the Bank’s value chain as determined by the learning and performance team.
At the conclusion of the internship, candidates will be required to prepare a report detailing their experiences and insights gained during the internship, as well as their plans for utilizing this knowledge to contribute to the transformation of Africa and its diaspora.

Terms and Conditions of the Internship

Interns are responsible for their own living expenses throughout the duration of the internship program, which includes accommodation, meals, transportation, clothing, medical care, and group personal accident insurance.
Nonetheless, the Group will provide the following benefits to selected interns at no cost:
Prior to the start of the internship, reimbursement for reasonable return travel expenses to the internship site, utilizing the most economical and direct route from their educational institution, in accordance with the Bank’s travel policy;
A monthly stipend of USD 800, which is tax-free, along with a housing allowance of USD 400 for interns relocating from their home countries, disbursed at the end of each month to assist with living expenses;
Accommodation in a hotel selected by the Bank (bed and breakfast only) for one week during the orientation period, upon arrival at the internship location, based on the intern’s previous residence;
Transportation to and from the hotel upon arrival and departure at the conclusion of the internship program; and
A relevant residence visa for the duration of the internship, if necessary.

Additional Conditions

The costs of hotel accommodation are non-transferable for cash;
To ensure competency management, all interns will be classified under the Team Support grade within the Bank’s current grading system. Any incidental allowances that may be applicable (such as travel when necessary) will be based on this grade;
Interns are not considered contract or permanent employees of the Bank and, as such, are not entitled to any benefits associated with the Bank’s various employee categories;
Candidates are permitted to intern only once, with a minimum duration of 3 months and a maximum of 6 months;
The internship does not guarantee any form of employment, either during or after the internship period; and
Interns are required to adhere to the Group’s regulations as outlined in its various documents (including the staff manual) and to conduct themselves appropriately.

Deadline – not specified