Singapore, 1 December 2017
The ICC Academy, the educational arm of the International Chamber of Commerce (ICC), has signed a partnership agreement with ABSA Bank Limited, a subsidiary of the Barclays Africa Group. The agreement aims to train more than 100 ABSA employees across 12 cities in Africa, using the ICC Academy’s international training model and digital training platform.
The ICC Academy’s introductory-level Global Trade Certification and advanced-level Certified Trade Finance Professional will be made available to ABSA employees from January 2018. The training will benefit those in middle- and senior-level roles, including transaction banking managers, relationship managers and corporate treasury professionals.
ICC Academy General Manager Daniel Kok said: “The ICC Academy is proud to join forces with ABSA. We are committed to working to meet the bank’s skillset requirements and look forward to helping build capabilities throughout Africa.”
According to the 2016 ICC Global Survey, the global shortage of trade finance is worsening, with up to 60% of rejected trade finance requests falling on small- and medium-sized enterprises. This is particularly challenging in Africa where demand for more and enhanced training initiatives to assist local banks in improving their understanding of trade finance products and related operational services is especially high.
To better fill this knowledge gap, ABSA is investing in its workforce through professional training for its employees. Backed with ICC Academy certifications, ABSA employees will gain a comprehensive understanding of the nuts and bolts of trade finance operations. Using case studies that illustrate and analyse real-world scenarios, participants will learn about key trade finance products and techniques, as well as compliance issues. The ICC Academy hopes that its professional training will not only boost confidence among ABSA staff but also within the wider community.
This is the ICC Academy’s second partnership in Africa. An agreement with DB Schenker Logistics was signed last month to train 120 staff members.