Afreximbank has mobilised over $250 billion into Africa over the past 32 years, according to Benedict Oramah, President and Chairman of the Board of Directors, who described the bank’s journey as one of resilience, determination, and transformation.
Speaking at the ongoing 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) in Abuja, Oramah underscored the significance of the occasion, pointing out that the bank—once regarded as an institution with an uncertain future—has grown into one of Africa’s most influential multilateral financial institutions.
“This year’s Annual Meetings are organised under the theme ‘Building the Future on Decades of Resilience’ in recognition of the remarkable journey of Afreximbank. From humble beginnings, we have defied doubt and built an institution that has empowered neglected industries, provided lifelines during crises—from COVID-19 to commodity shocks and broken supply chains—and channelled more than $250 billion into Africa’s development,” Oramah said.
In his welcome address, Oramah reflected on the symbolic return of the bank’s Annual Meetings to Abuja, where the very first meeting was held in 1993. “This marks a memorable homecoming,” he noted, adding that the city has played a significant role in the bank’s evolution and successes over the decades. “The unwavering support from the Federal Government of Nigeria, especially in responding to capital calls and removing regulatory bottlenecks, has enabled us to operate effectively in Nigeria and the wider West African region,” he said.
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The 32nd edition of the Annual Meetings also marks a transition period as the bank prepares to welcome new leadership. Oramah highlighted how his 32 years of service at the bank had provided deep insight into the development challenges confronting the continent, the global plight of Africans, and the immense economic opportunities that remain untapped. “This event is not only a celebration of what we have achieved but also a turning point that will shape both the future of the bank and of Africa,” he said.
Gathering policymakers, development finance institutions, private sector players, civil society groups, and academia, the meetings are structured to examine Africa’s development trajectory and reposition the continent amid growing global uncertainties. Oramah pointed to a global backdrop of deglobalisation, rising protectionism, and geopolitical instability, arguing that such times call for Africa to chart a path that is “unapologetically African and globally impactful.”
He noted that Africa’s youthful population, vast natural resources, growing intra-African trade, and emerging technological shifts provide a unique opportunity for a new development paradigm. He called on stakeholders to reflect, engage, and strategise on how Africa can further assert control over its development destiny.
“This gathering is not just a forum for dialogue; it is a platform for action,” Oramah emphasised. “We must examine our past, reimagine our institutions, and prepare for a fractured world order. Together, through unity and purpose, we can identify the best pathway towards economic emancipation.”
As the bank looks to the future, Oramah urged participants to seize the moment and work collaboratively to continue the transformational journey Afreximbank began over three decades ago. He thanked attendees for joining what he described as a “historic gathering” and wished them productive deliberations and a rewarding experience in Abuja.
Earlier in his welcome remarks, Kashim Shettima, Vice President of Nigeria, said Afreximbank’s track record reflects its unwavering commitment to Africa’s development. This is evident in its provision of counter-cyclical financing during times of crisis, including commodity price slumps, the COVID-19 pandemic, and the Ukraine conflict. The bank has also played a key role in supporting infrastructure and industrial development through investments in industrial parks, special economic zones, and landmark projects such as the African Medical Centre of Excellence in Abuja—designed to curb the outflow of patients seeking medical treatment abroad.
“At a time when the world is shrouded in uncertainty, the African Export-Import Bank remains steadfast in its mission to support the continent’s aspirations,” he affirmed.
