Abuja: The African Export-Import Bank (Afreximbank) commenced its 32nd Annual Meetings in Abuja, centered around the theme ‘Building the Future on Decades of Resilience.’
According to News Agency of Nigeria, Prof. Benedict Oramah, President of Afreximbank, emphasized that the meetings offer a platform for dialogue and action, focusing on how Africa can take greater control over its development. Oramah, who also serves as Chairman of the Board of Directors, described the event as a significant milestone, celebrating Afreximbank’s 32 years of service.
Oramah noted the bank’s journey from uncertain beginnings to becoming a key multilateral financial institution. He highlighted the bank’s achievements, including mobilizing 250 billion dollars into Africa, which has empowered industries and served as a vital resource during crises such as the COVID-19 pandemic and supply chain disruptions.
He stated that the meeting occurs amid global challenges like deglobalization and geopolitical uncertainty, stressing the importance of Africa building internal strength. Oramah envisioned a future where Africa’s young population, natural resources, and technological advancements shape a new development path.
Denys Denya, Senior Executive Vice-President of Afreximbank, called for stronger African institutions to navigate the changing world order. Denya underscored the need for robust institutions, good governance, and regional cooperation. He advocated for supporting home-grown institutions to address Africa’s challenges, especially amid limited funding.
Denya also highlighted the importance of macroeconomic management, structural reforms, and investments in infrastructure and human capital for sustainable growth. He called for deliberate efforts in industrialization, export diversification, and enhancing regional trade through the African Continental Free Trade Area (AfCFTA).
He assured that Afreximbank would continue supporting member states in achieving their goals, using its experience in economic challenges and promoting industrialization. As global uncertainty persists, Afreximbank remains committed to supporting Africa’s aspirations for sustainable economic growth and development.