CAIRO, Egypt – The African Export-Import Bank (Afreximbank) celebrated its outgoing President and Chairman, Professor Benedict Okey Oramah, with a grand farewell conference attended by over 2,000 dignitaries, including heads of state, business leaders, and representatives from across Africa and the Caribbean. The event highlighted Afreximbank’s impact on trade and its role in shaping Africa’s financial independence.
Afreximbank Honors Legacy of Transformational Leadership
During the event, Prof. Oramah reaffirmed his belief that Africa’s economic future depends on internal empowerment rather than external dependency. He emphasized that Afreximbank honors legacy through initiatives that promote self-sustained development, reversing decades of economic divide and colonial fragmentation.
Incoming President Dr. George Elombi praised Oramah’s visionary leadership, noting that his efforts significantly boosted African trade growth impact, building strong partnerships that accelerated industrial and financial growth across the continent.
Driving Intra-African Trade and Innovation
Under Oramah’s leadership, Afreximbank spearheaded initiatives like the African Continental Free Trade Agreement (AfCFTA) implementation, the Pan-African Payment and Settlement System (PAPSS) with a $3 billion facility, and the Intra-African Trade Fair, which generated over $170 billion in trade deals.
The Bank’s digital platform, Africa Trade Gateway, further simplified cross-border transactions, empowering local industries and fostering innovation. These achievements underscore Afreximbank’s impact on trade, positioning it as Africa’s leading trade finance institution.
Promoting Standards and Industrial Growth
The Bank established testing and certification centers harmonizing over 500 industrial standards across pharmaceuticals, agriculture, and automotive sectors. It also launched industrial parks and special economic zones, including projects like the Dangote Refinery, driving export capacity and manufacturing excellence across Africa.
Legacy of Development and Global Cooperation
During the COVID-19 pandemic, Afreximbank disbursed over $10 billion to support African economies and provided $2 billion for vaccine procurement in Africa and the Caribbean. Prof. Oramah’s decade-long leadership expanded the Bank’s balance sheet from $6 billion to $44 billion, demonstrating measurable progress in Africa’s economic resilience and unity.
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“This story was first reported by APO Group on behalf of Afreximbank. Read the full article here.”
