Afreximbank Expands to $44bn Under My Leadership — Oramah

The President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, has revealed that the bank’s total assets have grown to $44 billion during his tenure, reflecting a remarkable period of expansion, innovation, and strategic impact on Africa’s trade and development landscape.Oramah, who made the disclosure during a media briefing in Cairo, Egypt, highlighted that Afreximbank’s growth over the past decade was driven by a strong commitment to promoting intra-African trade, industrialisation, and financial integration through strategic interventions that aligned with the African Continental Free Trade Area (AfCFTA) objectives.

He noted that when he assumed leadership of the bank in 2015, total assets stood at around $12 billion, but through consistent efforts in trade financing, export development, and support for African economies during crises, Afreximbank has grown nearly fourfold. “It is a privilege to see the institution evolve into a $44 billion powerhouse that now serves as Africa’s principal vehicle for trade and economic transformation,” Oramah stated.

The Afreximbank chief attributed this impressive growth to the bank’s focus on innovative trade and investment products, risk mitigation instruments, and funding facilities that support member states, particularly in times of global financial strain. He said, “Our mission has always been to create solutions that address Africa’s unique challenges. We have shown that Africa can build world-class institutions that compete and cooperate globally.”

Under Oramah’s leadership, Afreximbank launched several key initiatives, including the Pan-African Payment and Settlement System (PAPSS), which facilitates seamless intra-African trade in local currencies. The platform, which has now been adopted by many central banks across the continent, is designed to eliminate the need for third-party currencies like the dollar or euro in regional transactions.

He also highlighted the Afreximbank Trade Information Portal, which provides comprehensive trade and investment data to African businesses, and the Creative Africa Nexus (CANEX), a platform that promotes Africa’s creative and cultural industries through funding and global partnerships.

Oramah emphasised that Afreximbank’s interventions were instrumental in cushioning the impact of external shocks on African economies, especially during the COVID-19 pandemic, when the bank disbursed over $8 billion to support central banks and businesses through the Pandemic Trade Impact Mitigation Facility (PATIMFA).

He said, “During the pandemic, when global financial flows were disrupted, Afreximbank stood by Africa. We ensured that trade finance continued, that pharmaceutical supplies reached the continent, and that central banks could maintain liquidity.”

Beyond emergency interventions, Oramah pointed out that Afreximbank has played a leading role in infrastructure development, industrialisation, and energy investments. Through its Project Preparation and Development Facility (PPDF) and partnerships with sovereign funds, the bank has facilitated the financing of major infrastructure projects, including industrial parks, transport corridors, and energy plants across Africa.

According to him, Afreximbank has also been a critical player in supporting small and medium enterprises (SMEs) through targeted programs designed to improve access to finance and build capacity. He said that empowering SMEs remained central to Africa’s industrialisation drive.

On the bank’s current priorities, Oramah stated that Afreximbank is working to expand its trade finance support to $60 billion in the coming years, while also investing heavily in climate finance and green industrialisation to align with global sustainability goals. “We are building the foundations for a green and digital Africa that can compete globally,” he said.

He reaffirmed Afreximbank’s commitment to deepening its collaboration with African governments and institutions, noting that policy consistency and intra-African cooperation are essential for sustaining economic growth. He urged African leaders to leverage the AfCFTA framework to unlock the continent’s full trade potential, adding that Afreximbank would continue to provide the financial and technical backbone for that transformation.

Reflecting on his journey at the bank, Oramah expressed pride in how Afreximbank has evolved into a global financial force with offices in several regions, including Abidjan, Abuja, Harare, Kampala, and Nairobi, as well as partnerships with international financial institutions and development agencies.

He said, “What we have built is more than a bank; it is a symbol of African unity and resilience. Afreximbank represents the future of African trade — bold, innovative, and self-reliant.”

Oramah also emphasised the importance of African nations working collectively to close infrastructure gaps and develop local industries that can reduce dependence on imports. He said Afreximbank is already financing several industrial and manufacturing zones that aim to boost local production and create jobs.

He cited the African Medical Centre of Excellence project in Abuja, which is supported by Afreximbank in partnership with the Nigerian government, as an example of the bank’s growing footprint in healthcare infrastructure. The project, once completed, will provide world-class medical services and reduce the need for medical tourism outside Africa.

Commenting on Afreximbank’s future, Oramah reiterated that the institution remains well-capitalised, resilient, and committed to driving Africa’s transformation. “With our growing balance sheet, diverse portfolio, and expanding partnerships, we are ready to take Afreximbank to the next level of impact,” he declared.

He concluded by thanking African shareholders and partners for their continued trust, while reaffirming that Afreximbank’s mission would remain focused on building prosperity through trade, innovation, and integration.

“Our goal,” Oramah said, “is to make Africa a globally competitive continent. The progress we have made so far shows that when Africans unite around a shared vision, no challenge is insurmountable.”

 

With a solid record of growth, financial innovation, and regional influence, Afreximbank under Oramah’s leadership stands today as one of Africa’s most transformative financial institutions — a testament to what can be achieved through visionary leadership and continental collaboration.