“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 channeled more than $250 billion into Africa’s development,” Oramah stated.
The return of the Annual Meetings to Abuja, where the first meeting was held in 1993, marked a “memorable homecoming” for the bank. Oramah acknowledged Nigeria’s crucial role, particularly the Federal Government’s unwavering support in responding to capital calls and removing regulatory hurdles, which has enabled Afreximbank to operate effectively across Nigeria and West Africa.
This 32nd edition also signals a transition in leadership for the bank. Oramah, reflecting on his 32 years of service, shared his insights into the continent’s development challenges, the global struggles faced by Africans, and the vast untapped economic opportunities. He emphasized that the meetings are not just a celebration of past achievements but a turning point that will shape Afreximbank’s and Africa’s future.
The meetings bring together policymakers, financial institutions, private sector leaders, and academics to discuss Africa’s development trajectory amidst a changing global landscape. Oramah highlighted trends like deglobalization, rising protectionism, and geopolitical instability, asserting that these times demand Africa to forge a path that is “unapologetically African and globally impactful.”
He pointed to Africa’s youthful population, abundant natural resources, growing intra-African trade, and emerging technological shifts as unique opportunities for a new development approach. Oramah urged stakeholders to reflect, engage, and strategize 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 stressed. “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 Afreximbank looks ahead, Oramah encouraged participants to seize this moment and work collaboratively to continue the transformative journey that began over three decades ago.
Kashim Shettima, Nigeria’s Vice President, also delivered welcome remarks, commending Afreximbank’s unwavering commitment to Africa’s development. He cited the bank’s counter-cyclical financing during crises like commodity price slumps, the COVID-19 pandemic, and the Ukraine conflict. Shettima also highlighted Afreximbank’s support for infrastructure and industrial development, including investments in industrial parks, special economic zones, and landmark projects such as the African Medical Centre of Excellence in Abuja, which aims to reduce the need for Africans to seek 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,” Shettima affirmed.
