Afreximbank introduces “Mansa Repository ” customer due diligence platform


The African Export-Import Bank (Afreximbank) has introduced MANSA Repository, a customer due diligence platform that will serve as a primary single source of data collection centre on African corporates, including SMEs and financial institutions, and of investment information in Africa.
The soft launch of MANSA Repository took place during a workshop organised by the Bank at its Cairo headquarters on 28 May 2018, with the attendance of the MANSA Advisory Steering Committee comprising representatives of African central banks, the African Development Bank, the Central Bank for African States, the Federal Reserve Bank of New York and independent compliance and legal experts.
The workshop, which showcased MANSA’s functions and capabilities, was also an opportunity to unveil the identifier name, “MANSA”, which calls to mind images of Africa’s strength and wealth.
Addressing the workshop, Afreximbank President Dr. Benedict Oramah said that the name, MANSA, was chosen in honour of Mansa Moussa, a great African king of Mali, who, during his pilgrimage to Mecca in 1324, travelled with thousands of tonnes of gold. History has it that he gave out so much of the gold as gifts to dignitaries in Europe that he had to borrow to return home to Mali in 1325.
“The platform will open the door for Africa to trade and will enhance trade finance as it will help reduce compliance cost,” remarked the President.
The workshop participants welcomed the progress the Bank has made in implementing the initiative.
The full launch of the MANSA platform will take place during the Afreximbank Annual Meetings in Abuja, which will also mark the Bank’s 25th anniversary.