- AFREXIMBANK LAUNCH AFRICA DUE DILIGENCE PLATFORM –MANSA LAUNCHED IN TANZANIA
Friday, 5th November 2021 Dar es Salaam, Tanzania: Mr. Paul Makanza, Chairman, Confederation of Tanzania Industries (CTI), Mrs. Maureen Mba, Head Mansa Business, Afreximbank, Mr. Charles Itembe, Member of Governing Council of Tanzania Bankers Association (TBA), Mr. Paul Koyi, President of Tanzania Chambers of Commerce Industries and Agriculture (TCCIA) joined by Mr. John Bosco Kalisa, EABC CEO, Mr. Francis Nanai, Executive Director, Tanzania Private Sector Foundation (TPSF), and Ms. Farida Mukasa Kasujja, Manager Client Relations East Africa Afreximbank and Ms. Tusekelege M. Joune, Executive Director of TBA officially launched the African Due Diligence Platform in Dar es Salaam Tanzania.
Speaking at the launch, Mr. Kalisa, EABC CEO said “in 2020, Tanzania exports to Africa stood at USD. 2.27 billion an 11.8% increase from USD. 2.03 billion in 2019.”
He urged the EAC bloc to align trade policy, eliminate of NTBs, ease access to trade finance for SMEs, enhance productive capacity and factor market integration to tap into the AfCFTA market.
The Chief Guest, Mr. Paul Makanza, Chairman, Confederation of Tanzania
Industries (CTI) said, “intra-Africa trade is still low at appx.16.6% of total Africa exports to the globe.”
He said that the 1st of January 2021 signaled a new dawn for Africa as trading under AfCFTA commenced. He elaborated that the workforce in Africa will hit 1.1. billion by 2050.
He stated that timely information and trust between buyers & sellers is important in trading and lauded the Mansa Platform for providing Know Your Customer Information.
Chairman Makanza, appreciated the EAC Heads of State for ratifying the AfCFTA and called upon the Tanzania private sector to seize the moment and opportunities availed by the 1.2 billion continental market.
Mr. Justine Marwa representing the President of Tanzania Chambers of Commerce Industries and Agriculture (TCCIA) said “The launch of Mansa is set to enhance the preparedness of Women, youth and SMEs in Tanzania to trade under the AfCFTA. ”
He elaborated that TCCIA’s building bridges program assessed the level of awareness of EAC protocols by the Tanzania business community.
Mr. Charles Itembe said Mansa provides due diligence data critical for the financial institutions to offer finance for businesses and trade integration in Africa.
On his part, Mr. Fransis Nanai, Executive Director, Tanzania Private Foundation (TPSF) called for deeper public-private dialogue on AfCFTA on key issues of trade, investment, infrastructure, capacity building of SMEs to enhance participation and ownership of the continental agreement.
Ms. Maureen Mba, Head of MANSA Repository Platform said “Afreximbank strategic pillars geared to boost intra-Africa trade, industrialization & export development and trade finance.”
She explained that Mansa Africa Due Diligence Platform and Pan African Payment & Settlement System (PAPSS), Trade Information Portal are among the innovative solutions put in place by Afreximbank to transform Africa’s trade.
She said the Mansa platform builds visibility and governance structure of SMEs in Africa by providing the Africa Entity Identifier (AEI) code enabling SMEs to leverage on the AfCFTA opportunities.
She said information is vital to transform Africa and Africa’s trade and the Mansa Africa Due Diligence Platform is a game changer solving the challenges Africa countries face in trading with each other.
The Mansa platform provides Know Your Customer (KYC) information and links investors and business partners together.
On her part, Mrs. Gamuchirai Moyo, Consultant Mansa said “The Mansa platform will reduce the high-risk perception of investing in Africa that has hampered access to financing and Africa’s competitiveness in global markets”
Mr. Adrian Njau, EABC Policy Expert said, “The AfCFTA would boost the exports of EAC bloc to the rest of the continent by USD 2 billion- a 45 % increase especially textiles, manufacturing and processed foods.”
The launch was attended by over 100 industry captains and leading women in business, based in Dar es Salaam, Tanzania.
The MANSA digital platform provides a single primary source of Know-Your-Customer (KYC) data required to conduct customer diligence checks on counterparties in Africa with a special focus on African Corporates, SMEs and financial institutions. The MANSA digital platform reduces risks to intra-African trade such as increased financial crime and reduces the high-cost acquisition of Customer Due Diligence.
For more information visit:https://www.mansaafrica.com