About the job
Introduction
A multilateral financial institution called the African Export-Import Bank (Afreximbank) was founded with the goal of supporting and financing commerce inside and outside of Africa. African governments, African private and institutional investors, and non-African private and institutional investors all make up the shareholders.
A charter, approved by all shareholders, governing the Bank’s corporate structure and operations, as well as an agreement signed by member states and multilateral organizations, which grants it the status of an international organization, serve as its twin constitutive documents.
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 is aware that in order to fulfill its mandate to encourage and finance trade in Africa, it must foster a greater awareness of both the issues facing African trade and trade finance as well as the fundamentals of trade finance, particularly structured trade finance, which is the Bank’s operational model. It is anticipated that by giving deserving students the opportunity to intern with the Bank, they will leave with a better understanding of the Bank’s mission and operational strategy, which they will apply as they advance their careers, undoubtedly with direct benefits to the Bank and generally to trade in Africa. Additionally, it is anticipated that the interns will provide the Bank with original and varied ideas. Students who are citizens of member nations of the Bank, a list of which is available on the Bank’s website, are eligible for the internship. Numerous candidates who are highly qualified are drawn to the program. Program admission is based on merit.
Eligibility criteria
The following students are eligible for the program:
- Students who can demonstrate that they were enrolled full-time in undergraduate or graduate study programs at a reputable university during the internship year are preferred. Candidates with a background in economics, business administration, finance, accounting, social sciences, statistics, law, or allied subjects will be of particular interest to the Bank.
- citizens of the member nations of the Bank.
- a working grasp of the other language and fluency in either English or French. The ability to speak Arabic or Portuguese is advantageous.
- When applying for the internship, candidates must be between the ages of 20 and 32.
- any other candidates that the President may authorize.
- Children of employees of Afreximbank are not permitted to take part in this program.
Timing
The internships are available twice a year (in June and December) for a maximum of six months. All throughout the year, applications for internships are accepted.
Numbers
Unless specially authorized by the President, the Bank is only permitted to accept two candidates in each season, for a total of four interns every year. Only chosen applicants are contacted.
Application procedure
In addition to filling out an online application for an internship, candidates must submit the following materials:
- An application letter.
- Copy of their most recent resume.
- A copy of a current passport.
- Copy of the pertinent academic credentials, certified.
- Referral for an internship from the educational institution they are enrolled at. This should cover the suggested internship time frame, up to a maximum of six months.
- Brief Statement of Intent outlining the benefits they hope to obtain from the internship program, no longer than one A4 page.
Internship commencement
Successful candidates will be issued a conditional offer from the Bank with a two-week window to accept it before it expires. They will be required to provide proof of having health insurance and group personal accident coverage that are valid in Egypt (or the specified internship site) for the duration of the internship at this time. If this is not given before the internship begins, the offer will be automatically withdrawn.
Within the first month of each internship season, interns are expected to begin their internship.
Interns will go through the Bank’s standard induction procedure when they start, after which they will be assigned to a specific primary department, whose head of department will choose a mentor for them to work with while they are interning there. However, if determined appropriate by their mentor and department head, they will be rotated around the Bank’s many departments during the course of their internship.
Candidates will be required to prepare a report at the conclusion of the internship outlining the knowledge they have received and how they plan to apply it to advance intra- and extra-African commerce.
Terms and conditions of Internship
During their internship program, interns are expected to take care of their own needs for housing, food, transportation, attire, and group personal accident insurance.
However, the Bank will give the following things to successful interns without charge:
- Before starting, coverage of appropriate round-trip transportation costs utilizing the most practical and direct route from their place of study to the location of their internship, in accordance with the Bank’s travel policy;
- a USD 800 tax-free stipend that is due at the end of each month to aid with living expenses;
- upon arriving to the internship location for interns, lodging in a hotel selected by the Bank (bed and breakfast only) for one week during the induction period, based on their prior location;
- Transfer from the airport to the hotel upon arrival and from the hotel to the airport upon completion of a successful internship program; and
- if necessary, a valid visa for the duration of the internship program.
Other conditions
The costs of hotel accommodations cannot be converted to cash;
- All interns will be assigned to the Associate grade under the Bank’s present grade system in order to manage competency requirements. This grade will serve as the foundation for any incidental awards that might be given (such as travel expenses when necessary).
- The perks that accrue to the Bank’s various categories of staff are not available to interns in any way because they are neither contract employees nor permanent employees of the Bank.
- Candidates are only permitted to work as interns with the Bank once, for a minimum of three months and a maximum of six months.
- The promise of employment of any kind with the Bank, either before, during, or after the internship, is in no way implied by the internship.
- Interns are expected to follow Bank policies as outlined in its many documents, including the staff manual, and to conduct themselves as would be expected of all Bank employees. Management has the right to discontinue the internship program and all associated perks with one day’s notice in the event that any bank policy is broken, with no liability to the bank.