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Afrixembank Unveils $100m Facillity To Boost Food Export

The African Export–Import Bank, Afrixembank, has unveiled the African Quality Assurance Centre, AQAC, targeted at rescuing Nigeria from over $700 million losses recorded through the rejection of the country's agro-products in the European Union.

At the inauguration of the centre in Sagamu, Ogun State on Wednesday, President and Chairman, Board of Trustees, Afrixembank, Prof. Benedict Oramah, stated that over $700 million worth of agro-produce are rejected from Europe alone.

The AQAC laboratory is an initiative of the Afrixembank established to ensure that made in Africa products meet the required health and safety standards.

Oramah said that about 76 per cent of exports from Africa are rejected annually, adding that they are working with some organisations to create the framework for harmonisation of standards across the continent.

To this end, he hinted that Afrixembank budgeted about $100 million for the set-up of  AQAC across the country, noting that the impact would be monumental. 

He commended the Ogun state government for their support in making the AQAC a reality, adding that no country could participate effectively in the Agricultural Free Trade Agreements without solid and quality infrastructure.

The Ogun State governor, Gov. Adedapo Abiodun, lauded the bank for its commitment to financial and economic growth of the African continent.

He stated that the choice of Ogun for the centre is multi-faceted since its an agrarian state and  the industrial capital of Nigeria. 

Abiodun was hopeful that the centre would  stimulate economic growth.
Senior Vice President of Africa, Bureau Veritas, Mr Marc Roussel, said that quality agro-produce is the foundation for ensuring food security in the continent.

Bureau Veritas is a global leader in testing, inspection and certification, as well as Afrixembank’s technical partner on AQAC project in Nigeria.

Roussel stressed the need for quality products to ensure food security in Africa, noting that sustainable agriculture is the key to transforming Africa and the living conditions of Africans.

Roussel said that technologies and innovation  are fully available to support a developed agriculture sector. 

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