Libya has become a shareholder in the African Export-Import Bank (Afreximbank), solidifying its status as both a participating state and an equity holder in the multilateral financial institution. The move follows Libya’s formal accession to the Bank’s Establishment Agreement in October 2024 and the submission of its share payment on May 13, 2025.
The acquisition marks a significant milestone in Libya’s economic reintegration with the continent and strengthens Afreximbank’s presence in North Africa. Libya is the 52nd African nation to join the Bank, a development that supports the institution’s objective of full continental coverage and greater economic integration through trade and investment.
“Libya’s shareholding in Afreximbank puts the Bank in a strong position to support the government’s reconstruction efforts while also helping to deepen its regional connectivity through investments in critical projects such as the oil pipeline and road projects between Egypt and Libya, and the electricity transmission and linkage project covering Libya, Tunisia, and Algeria,” said Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank. “It reaffirms the confidence of African governments in their Pan-African Multilateral Financial Institution.”
Prof. Oramah praised Libya’s move as a vote of confidence in Afreximbank’s mandate to transform African trade. He said the new shareholding would help extend the Bank’s services and influence across the region, while also boosting its capital base.
Libya’s finance minister, Dr. Khaled Al-Mabrouk Abdullah, described the country’s membership and share acquisition as a milestone in its post-conflict recovery and a key step toward repositioning itself as a regional economic player.
“Libya is grateful to His Excellency, Prof. Benedict Oramah, for his persistent efforts in facilitating Libya’s full participation in the Bank’s foundational agreement. The acquisition of shares in Afreximbank solidifies Libya’s position as a full member state and shareholder in this esteemed multilateral African institution,” said Dr. Abdullah. “This represents a historic achievement… We regard this development as a critical step forward in Libya’s journey towards greater economic integration within the African continent.”
He stressed that the partnership with Afreximbank is expected to support Libya’s reconstruction, diversify its economy, and improve connectivity across North Africa.
“We eagerly anticipate leveraging the Bank’s expertise and resources to support our national economic agenda and to contribute effectively to the advancement of intra-African trade and continental integration,” Dr. Abdullah said. “We commend Afreximbank for its unwavering commitment to African economic advancement and look forward to a fruitful and mutually beneficial collaboration.”
Afreximbank is expected to target key sectors in Libya including infrastructure, oil and gas, and the export of manufactured goods. The partnership also aligns with regional projects aimed at enhancing integration across North Africa.
