(2nd from L) Prof. Benedict Oramah, Dr. Mohammed Amin Adam (2nd from R) with other dignitaries at the event
African Export-Import Bank (Afreximbank) has launched its 30th anniversary as it moves towards building prosperity for Africans.
The anniversary celebration which will coincide with the bank’s annual general meeting to be held in Ghana is on the theme “Delivering the Vision: Building Prosperity for Africans.”
It is informed by the critical role that Afreximbank has played over the last three decades in the promotion of economic integration in Africa through support for intra-African trade and investment; and diversification of sources of growth and exports for inclusive growth and shared prosperity.
President and Chairman of the Board of Directors, Prof. Benedict Oramah, addressing the press in Accra said, “The 30th anniversary celebration will be the first gathering of global Africa, where the African participating States will welcome the new participating States from the Caribbean Europe, Latin America, and Asia,” he mentioned.
Prof. Oramah indicated that in addition to shareholders of the Bank, “we expect African leaders and senior government officials from within and outside Africa, including Ministers, Central Bank Governors, CEOs of major banks, non-bank private/public sector institutions and NGOs.”
Also featuring are the African Union (AU) and its agencies, including the AfCFTA Secretariat, as well as the academic community, experts, and leaders from other regions of the world as well as senior representatives and officials from multilateral and international organisations.
He said the event will provide the opportunity to confront challenges and re-energise Africans towards the attainment of the Pan-African vision of an integrated, prosperous, and peaceful Africa, driven by its citizens, representing a dynamic force in the international arena.
“It is our expectation that more than 3000 participants will converge here in Accra to celebrate this historic milestone with Afreximbank and the people of Ghana,” he said.
Minister of State at the Ministry of Finance, Dr. Mohammed Amin Adam, said since its inception, the Afreximbank has focused on its mandate of advancing Africa’s trade and economic diversification.
He observed that although most African economies are smarting under the severe impact of overlapping global shocks, the role of global and regional trade in promoting economic dynamism and transformation is beyond question.
He, however, indicated that Africa’s share of global trade is a paltry 3 per cent and intra-African trade is only 16 per cent.
“Amongst the key reasons for this uninspiring trade performance is the lack of finance and access to trade and market information. It is in this respect that all Africans must be supportive of the Afreximbank -a bank that is set up to deliver just that and more.
In the Afreximbank, we have an institution with convening power and a network of resource to significantly contribute towards finding robust solutions to these challenges.
This is an institution that has grown its assets from an initial US$5billion to US$27.7 billion as at September 2022 and a net loans portfolio of US$20 billion – US$23 billion,” he stated.
Dr. Amin Admas said through the country’s enduring partnership with the bank it has undertaken significant projects in the health, transportation, Energy, finance and; of course, trade financing.
“Key private financial institutions have also experienced the power of Afreximbank in expanding their operations. Clearly, Ghanaians have a cause to take pride in and promote this enduring partnership,” he added.
By Jamila Akweley Okertchiri