African Export-Import Bank (Afreximbank) has responded to a call by the Standard Organization of Nigeria (SON) for private sector investments in quality assurance testing laboratories, by commencing the development of its second African Quality Assurance Center (AQAC) at Ngor Okpala, Imo State, Nigeria.
The project is being undertaken by the bank in collaboration with Bureau Veritas, Bureau Veritas, a world leader in Testing, Inspection and Certification, as the technical partner to support the operations and management of the facility.
At a ceremony where the Bank showcased a prototype design for the project in Imo State and attended by His Excellency Senator Hope Odidika Uzodinma, Governor of Imo State, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank Afreximbank, said:
“The Imo State AQAC will build on the successes achieved with the pilot AQAC project launched in Ogun State in 2022, by developing a conformity assessment center focused on food, agri products and other goods.
The Imo State AQAC will help Nigeria and neighbouring countries boost their exports and gain access to global and regional markets.”
She further affirmed that Afreximbank’s on a mission to enhance Nigeria and the continent’s export potential, by ensuring that “Made in Africa” goods and products meet international standards and technical regulations at export markets.
” We are not only boosting trThe ade but also fostering economic growth across the continent in line with the Bank’s mandate.
It is pertinent to note that the AQACs are also expected to expand intra-regional trade under the African Continental Free Trade Agreement (AfCFTA) by ensuring products meet standards and regulations at export destinations within the continent,” said Mrs. Kanayo .
She stated that for AQACs to achieve this objective, Afreximbank is collaborating with several stakeholders, including the African Organization for Standardization (ARSO) to harmonize standards in key sectors including textiles, apparel, leather and gastronomy.
So far, the Bank and ARSO have harmonized over 500 standards in the automotive, medical, and pharmaceutical equipment sectors.
Afreximbank launched the AQAC initiative in 2017, committing over US$100 million to promote the establishment of internationally accredited facilities across Africa that offer testing, inspection and certification services as well as training in conformity assessment.
These accredited facilities will ensure that products made in Africa meet applicable international standards and technical regulations thereby boosting exports across member countries in fulfilment of the Bank’s mandate to finance and promote Intra and Extra African trade.