Afreximbank or as it’s commonly called the African Export Import Bank offers one of the best internship opportunities in Africa. For a period of months students are given the opportunity to work in various departments that help trade on the African continent. Not only will you walk away from this experience with a great addition to your CV but you will be paid a monthly salary, housing allowance and medical insurance.
After researching on this internship programme for a while now I have compiled all the information you need to apply and increase your chances of being selected. I have talked to previous interns who have since gone on to work at development banks, commercial banks, consultancies and even started fintech companies. I have also noticed that many bright students fail to get the opportunity due to not knowing the requirements. Below I will cover everything you need to know before applying for the Afreximbank internship.
Read through this article before you start filling out the application form.
Table of Contents
What is the Afreximbank Internship?
The African Export Import Bank is a pan African multilateral financial institution based in Cairo, Egypt. Its goal is to promote and finance trade in Africa as well as between Africa and the rest of the world. The bank operates through Structured Trade Finance which allows it to provide loans and trade finance facilities to clients across Africa.
By offering an internship the bank hopes to create awareness about the challenges facing trade on the African continent and the fundamentals of trade finance. It hopes that these individuals will continue to promote awareness about trade in Africa throughout their careers whether they decide to work in government, the banking sector, private sector or academia. They also want to ensure that interns come up with innovative ideas that will benefit the bank.
The Afreximbank internship programme is open to students who meet the following criteria. It is a merit based programme so do not expect family members to help you secure a position.
| Internship name | Afreximbank Group Internship Programme |
| Given by | African Export Import Bank (Afreximbank) and its group entities |
| Where will the internship take place | Afreximbank Head Office in Cairo, Egypt or any of its regional offices |
| Type of internship | Paid internship |
| Who can apply | Citizens of any member state of the Afreximbank Group who fall in the age range of 20 to 32. Citizens of the African Diaspora and non-Africans who share the vision of transforming Africa can also apply. |
| Field of study | Economics, Business Administration, Finance, Accounting, Social Science, Statistics, Law, Science, Engineering and related fields |
| Salary | Students will earn USD 1,000 per month tax free. They will also be given a housing allowance of USD 500 if they have had to move to a different country. |
| Where to apply | Click here to apply for the Afreximbank Internship |
| Fee | There is no fee to apply |
Always check on the current call for the internship as dates change.
Why does Afreximbank Offer an Internship?
There are many reasons why Afreximbank offers an internship to students. One reason is that they want to spread awareness about the issues surrounding trade on the African continent. They want to educate people on the challenges that come with trade in Africa as well as the fundamentals of trade finance and specifically structured trade finance.
For instance if a country exports cocoa to another country there will always be challenges that arise when doing trade. By providing interns with this opportunity they can learn about these challenges and gain knowledge that can be used in the future. Another reason is that they want individuals to bring new ideas and innovation to the table. Students who apply for this internship will have studied new technologies and techniques that they can implement into the bank’s daily operations.
Which Group Entities Will Provide Internships?
There are various entities that make up the Afreximbank Group. You may end up working in any one of these departments.
| Afreximbank | Offers trade finance solutions to its clients |
| Fund for Export Development in Africa (FEDA) | Makes equity investments in businesses that export to other countries |
| Pan African Payment and Settlement System (PAPSS) | Provides local currency transactions between countries in Africa |
| AfrexInsure | Offers insurance solutions to its clients |
| Intra African Trade Fair | Hosts an annual trade fair |
| African Medical Centre of Excellence | Makes investments in the health industry |
There are also many departments within Afreximbank that you can work in. Some of these include; Client Relations, Trade Finance, Project and Asset Based Finance, Treasury, Risk Management, Research and International Cooperation, Legal, Compliance, HR, Communication and IT.
Who is Eligible for the Afreximbank Internship?
There are various criteria that you need to meet before applying for the Afreximbank internship. I will go through each one in detail.
Must be enrolled in school
Ideally you need to provide proof of enrollment for a full time undergraduate or postgraduate course. If you are currently enrolled in a degree course you will have a greater chance of being accepted. This means you have to be a student in the year you are applying for the internship.
Make sure that your proof of enrollment is current. You can use your student ID card, enrollment letter from your registrar or an academic transcript.
Preferred Field of Study
The bank prefers students who study Economics, Business Administration, Finance, Accounting, Social Science, Statistics, Law, Science, Engineering and related fields. As you can see this is a wide variety of courses.
| Field of Study | Department you can work in |
| Economics | Research |
| Business Administration | Client Relations |
| Finance | Trade Finance |
| Accounting | Finance |
| Social Science | Research |
| Statistics | Risk Management |
| Law | Legal |
| Science | |
| Engineering | Information Technology |
If you do not fall under any of the fields above you can still apply. Just make sure that your course relates to the bank’s mandate in some way.
Citizenship
You must be a citizen of one of the member states of the Afreximbank Group. You can find a list of the member states on the banks website. Students from the African Diaspora can also apply. This includes individuals of African descent who live abroad. If you are not of African descent you can still apply as long as you share the vision of transforming Africa.
Let’s say you are an Indian who is studying in London. You can still apply for the internship as long as you meet the other criteria. In your application you will have to show that you have a passion for Africa and want to see it grow.
Fluency in English or French
You must be able to speak either English or French. Ideally you should be able to speak both languages. It is an added advantage if you know Arabic or Portuguese.
Age
You must be between the ages of 20 and 32 years old. If you are below the age of 20 or above the age of 32 you will not qualify for this internship.
| Age | Are you eligible? |
| Under 20 | No |
| 20 – 32 | Yes |
| Above 32 | No |
Cannot be a child of staff
If you are a child of an employee who works for Afreximbank you are not allowed to apply for the internship.
Benefits of Working at Afreximbank as an Intern
There are many benefits to working at Afreximbank as an intern. Here are some of the benefits that you will enjoy.
Monthly Salary of USD 1,000 Tax Free
You will be paid a monthly salary of USD 1,000 at the end of each month. This is tax free so you get to keep the full amount.
Housing Allowance of USD 500
If you have had to relocate to another country to complete your internship you will be given an additional allowance of USD 500 towards your housing.
One Week Hotel Stay During Induction
When you arrive for your internship you will be provided with one week hotel stay. This will include bed and breakfast. You will use this time to complete your induction and look for accommodation.
Flight Tickets
If you have had to relocate you will be given flight tickets to and from your country of residence.
Residence Visa
If you require a residence visa you will be granted one for the duration of your internship.
Medical Insurance
You will be covered by medical insurance for the length of your internship.
| Benefit | Who will receive it | Description |
|---|---|---|
| Salary | All interns | USD 1,000 per month |
| Housing allowance | Those who have relocated | USD 500 per month |
| Hotel stay | Those who have relocated | One week during induction |
| Flight tickets | Those who have relocated | To and from your home country |
| Residence visa | Those who need it | For the length of your internship |
| Medical insurance | All interns | Length of your internship |
As you can see they do not mention anything about flights. You should make sure to ask about this before you accept the internship.
What will I be doing as an Afreximbank Intern?
There are various departments that you can work in when you become an Afreximbank intern. Depending on your field of study you may end up working in one of the following departments.
- Trade Finance
- Research
- Risk Management
- Legal
- Information Technology
Each department will have different responsibilities but overall you will be learning about how the bank operates and the various products and services they offer.
Here is an example of what you may be doing as an intern in the Trade Finance department.
Let’s say you are an intern who has been placed in the Trade Finance department. You will learn how to structure a pre export finance facility. Once you have learned the basics you will be asked to create a cash flow model for one of the banks clients. At the end of your internship you may be asked to present to your team leader about a transaction that you worked on. You will then receive a reference letter from your supervisor which you can use when applying for jobs in the future.
Documents Required to Apply for the Afreximbank Internship
Below is a list of documents that you will need to have ready when applying for the Afreximbank internship.
- CV
- Cover Letter
- Proof of Enrollment
- Academic Transcript
- Copy of Passport or Identity Card
- Any other documents that may be requested
| Document | Why you need it | Things to note |
|---|---|---|
| CV | To show your qualifications and experience | Keep it to two pages maximum |
| Cover Letter | To explain why you want to work at Afreximbank | Make sure you mention why you want to work at Afreximbank specifically |
| Proof of Enrollment | To confirm that you are currently a student | Make sure it is current |
| Academic Transcript | To show your academic performance | Use your official transcript |
| Copy of Passport or Identity Card | To verify your identity | Make sure it is clear and readable |
| Any other documents | May be requested during the application process | Follow instructions given |
Your cover letter is very important when applying for this internship. Make sure that you state why you want to work at Afreximbank and how your vision aligns with the banks.
How to Apply for the Afreximbank Internship
Once you have all your documents ready you can begin filling out the application form. Follow the steps below to apply.
Step 1: Make sure you meet all the requirements listed above.
Step 2: Do your research on the bank. Learn about what they do and the various products and services they offer.
Step 3: Gather your documents. Make sure your CV is updated and your cover letter is written.
Step 4: Go to the application link and fill out the form.
Step 5: Upload your documents.
Step 6: Submit your application.
Once you have submitted your application you will receive an email confirming that your application has been received. You will then have to wait for the bank to contact you if you are shortlisted for an interview.
How to Get Selected for the Afreximbank Internship
There are many factors that the bank will consider when selecting interns. Some of these factors include;
- Your academic performance
- Your field of study
- Your motivation to work at Afreximbank
- Your ability to speak multiple languages
- Diversity
Make sure that you research the bank before you apply. The bank will want to see that you are passionate about what they do and that you want to learn as much as you can during your time with them.
| Criteria | What the bank will look for |
|---|---|
| Academic performance | Good grades in your relevant subjects |
| Field of study | Course that relates to the bank’s mandate |
| Motivation | Why you want to work at Afreximbank |
| Languages | English and French are preferred |
| Diversity | They want interns from all over the world |
Tips for Writing a Good Cover Letter
Your cover letter will play a major role in whether you get selected or not. Here are some tips to help you write a good cover letter.
Start by introducing yourself. Tell them who you are and what you study. Then explain why you want to work at Afreximbank. Talk about how your vision aligns with the banks and what you hope to achieve during your internship.
Another tip is to mention why you want to work in the field you are studying. For example if you are studying law you can mention that you want to work in international trade law. This shows the bank that you are serious about what you are studying.
Finally make sure that your cover letter is not too long. Keep it to one page and make sure that every sentence is meaningful.
Mistakes to Avoid When Applying for the Afreximbank Internship
There are a few mistakes that you should avoid when applying for the Afreximbank internship.
- Applying if you are not in the age range of 20 to 32.
- Applying if you are not currently enrolled in school.
- Writing a generic cover letter.
- Saying that you speak a language that you do not.
- Applying if you are a child of staff.
| Mistake | How it will affect your application | How to avoid it |
|---|---|---|
| Not in age range | You will not be considered | Check that you are between 20 and 32 before applying |
| Not enrolled in school | Your application will not be as strong | Make sure you have proof of enrollment |
| Generic cover letter | Will not stand out from other applicants | Write a personalized cover letter |
| Saying you speak a language you do not | Will look bad during your interview | Only state languages that you are comfortable speaking |
| Child of staff | You will not be allowed to apply | Check that you are not related to any staff |
Comparing the Afreximbank Internship to Other Development Bank Internships
There are many other development banks that offer internships to students. Below is a comparison of the Afreximbank internship to some other development bank internships.
As you can see the Afreximbank internship stands out because of its focus on trade. Not only will you be paid but you will also be given a housing allowance and medical insurance. If you are passionate about trade in Africa make sure to apply for this internship.
What to Do After You Have Been Accepted for the Afreximbank Internship
Congratulations! You have been accepted for the Afreximbank internship. Here are a few things that you should do after you have been accepted.
- Accept your offer
- Complete any onboarding paperwork
- Apply for your residence visa
- Book your flight
- Look for accommodation
Once you have completed all of these tasks you are ready to start your internship!
Share Fresh Ideas
One of the things the Bank wants you to bring is fresh ideas. If there is something you think can be done quicker or better or a data set that they should use to base a decision off let them know. In a respectful manner of course. They will appreciate you thinking outside the box.
Record Everything
Create a document and note down everything you work on during your time at the Bank. Projects you worked on models you created memos reports etc. You will want to remember all of this when writing your CV and doing interviews in the future.
Ask For A Review
At some point ask your supervisor if they can give you a review on how your going. You can then make changes and improvements to ensure you leave on good terms with your supervisor. Ask for a reference or linkedin recommendation when your leaving.
Lets say you are an intern named Thandiwe. You live in Harare and you are studying Statistics. The Bank gives you an opportunity to work with them in their Risk management department. You notice that there is a risk score card for a certain country and that the information used to create that score is outdated. You come up with a solution to retrieve more recent data and present it to your team. They decide to implement your solution and your supervisor mentions you by name in front of the rest of your department. You leave your internship with great references and find yourself working for another regional bank.
Afreximbank Internship Application Checklist
Here is a quick checklist to follow when applying for the Afreximbank internship.
| Task | Done |
|---|---|
| Are you between the age of 20 and 32 at the time of application | ☐ |
| Are you currently registered at a school | ☐ |
| Is your field of study included on the above list | ☐ |
| Do any of your parents work for Afreximbank | ☐ |
| Are you able to speak english and french | ☐ |
| Have you researched the Bank and know what they do | ☐ |
| Have you updated your CV (no longer than 2 pages) | ☐ |
| Have you written your cover letter | ☐ |
| Have you requested a registration letter from your school | ☐ |
| Have you requested a transcript from your school | ☐ |
| Have you scanned your passport | ☐ |
| Have you created an account on workable | ☐ |
| Did you fill out the application correctly | ☐ |
| Have you uploaded all required documents | ☐ |
| Have you submitted your application before the deadline | ☐ |
| Have you prepared for your video interview | ☐ |
FAQs
Is there a salary for the Afreximbank internship?
There is a stipend that will be paid to you once you start the internship. You will receive $1000 per month tax free. If you are travelling from your home country you will be given $500 to help pay for your accommodation each month.
Where will I be working?
Most interns will be placed at the Banks headquarters in Cairo Egypt. However you can be placed at one of their regional offices or one of there group companies.
Who is eligible to apply?
Anyone who is between the age of 20 and 32 at the time of application. As long as you are a citizen of a member country or if you are a student of African background living abroad or even non african students who share the vision of the Bank.
Can I apply if I’m an undergraduate?
Yes you can apply. They would prefer that you are currently enrolled in a full time undergraduate or postgraduate programme during the internship period.
What if I recently graduated?
They prefer that you are a current student and provide proof of registration. Although if you are a graduate you can apply it will not carry as much weight since they specify that they want current students.
Do I need to be fluent in both English and French?
You need to be proficient in one of the languages and have basic understanding of the other. If you happen to speak arabic or portuguese that will put you at an advantage.
Will they fly me out to Cairo?
On their listing they mention that they will provide transport from the airport to your hotel. Accommodation at a hotel for one week and visa assistance. Medical insurance as well. Nowhere does it say that they will provide you with a flight ticket. Make sure to ask the Bank if they provide airfare.
How long is the internship?
Their job post doesn’t mention a fixed amount of time that the internship will last for. However looking at past internship postings they seem to last for a couple months. Once you are offered the position they will tell you how long you will be working for.
Can I apply if my parents work at Afreximbank?
No. They will not accept applications from children of their employees. They want to keep things fair for everyone who applies.
Is there an application fee?
No the application process is completely free. All you have to do is fill out the form on their workable page.
What subjects do they want students to have studied?
The list is quite long but includes Economics Business Administration Finance Accounting Social Sciences Statistics Law Science Engineering and any related field of study.
Will I get a job after completing my internship?
While they don’t guarantee you a job you can find yourself getting hired by other companies or even the Bank after you complete your internship. Many interns have gotten jobs with other banks and companies after interning with Afreximbank.
When is the closing date for applications?
Please refer to the job listing above for more information.
Conclusion
As you can see the Afreximbank internship is one of the best you can get on the African continent. You will be receiving a salary and have all your expenses covered while you are working for the Bank. They will help you learn skills that will help you in the future. Whether that be staying at the Bank or finding a different job.
All the Bank asks of you is to be passionate about their mission. Help them solve problems and think of ways we can increase trade between Africa and the world. If you show them that in your cover letter and interview you will be well on your way to interning with the Bank.
Make sure you meet the requirements above. Gather all of your documents and apply for the Afreximbank internship before the deadline.
We trade more with the rest of the world than our own continent. Its something we as Africans can work on changing. Maybe you can play a role in increasing intra-continental trade.
