The African Export-Import Bank (Afreximbank) has held a legacy conference in Cairo to mark the end of tenure of its President and Board Chairman, Prof. Benedict Oramah, after a decade at the helm of the continental lender.
The farewell event drew over 2,000 guests, including African heads of state, business leaders, government officials, and Afreximbank stakeholders, who paid tribute to Prof. Oramah for steering the Bank through a period of unprecedented growth and innovation.
During his 10-year tenure, Afreximbank’s balance sheet expanded from US$6 billion to nearly US$44 billion, driven by a strategy focused on boosting intra-African trade and industrial development.
Key milestones under his leadership include the Pan-African Payment and Settlement System (PAPSS), which enables cross-border trade in local currencies; the AfCFTA Adjustment Fund, supported with US$1 billion; and the Intra-African Trade Fair (IATF), which has generated over US$170 billion in trade and investment deals since its launch in 2018.
The Bank also backed the African Collaborative Transit Guarantee Scheme with US$1 billion to ease goods movement across borders, harmonised over 500 trade standards, and supported projects such as the Dangote Refinery and African Medical Centre of Excellence.
Prof. Oramah said his vision was to make Afreximbank “a catalyst for Africa’s economic emancipation,” adding that the Bank’s work had reversed decades of dependence on external interests.
Incoming President Dr. George Elombi praised Oramah’s leadership, describing him as “a visionary who turned Africa’s political aspirations into tangible gains.”
Afreximbank also played a key role during the COVID-19 pandemic, disbursing over US$10 billion in emergency support and financing vaccine procurement for Africa and the Caribbean.
Prof. Oramah, who took office in 2015, is credited with strengthening Afreximbank’s position as one of Africa’s leading multilateral financial institutions and a key partner in implementing the African Continental Free Trade Area (AfCFTA).
