The farewell event, held at the Bank’s headquarters in Cairo, brought together more than 2,000 guests, including heads of state and government, former leaders, African and Caribbean dignitaries, business executives, all former Afreximbank Presidents, the President-designate, members of the Board, shareholders, staff, and friends of the Bank
Cairo. African Export-Import Bank (Afreximbank) has marked the end of Prof Benedict Okey Oramah’s tenure as President and Chairman of the Board of Directors with a legacy conference celebrating his decade of leadership and impact on intra-African trade and investment.
The farewell event, held at the Bank’s headquarters in Cairo, brought together more than 2,000 guests, including heads of state and government, former leaders, African and Caribbean dignitaries, business executives, all former Afreximbank Presidents, the President-designate, members of the Board, shareholders, staff, and friends of the Bank.
Prof Oramah, who assumed office in September 2015, said he made the promotion of intra-African trade and investment the cornerstone of Afreximbank’s strategy, driven by the conviction that it was the only viable path to Africa’s development and economic emancipation.
“Our philosophy was borne out of the conviction that the only viable path forward for Africa's development and economic emancipation was one that would aggressively reverse-engineer the colonial strategy of ‘divide and rule’ that had, for decades, pinned Africa and people of African descent down in the dustbin of despair,” he said.
He added that Africa’s growth must be driven from within, noting that external interests had historically been “predatory and parasitic, unless engaged from a position of strength and purpose.”
Reflecting on his tenure, Prof Oramah said Afreximbank’s broad interventions had produced tangible results.
“We can now point to those things that exist today – new institutional arrangements and interventions that have become formidable forces in Africa's fight towards true self-determination – many of which were mere aspirations ten years ago,” he said.
Legacy of growth and innovation
During Prof Oramah’s 10-year leadership, Afreximbank’s balance sheet and guarantees grew nearly eight-fold, from $6 billion in 2015 to about $44 billion by September 2025.
He spearheaded numerous initiatives addressing the continent’s trade and industrial challenges, positioning Afreximbank as Africa’s leading trade finance institution.
Among these were the Pan-African Payment and Settlement System (PAPSS), backed by a $3 billion facility, which now operates in 20 countries and enables cross-border trade in local currencies.
The AfCFTA Adjustment Fund, established with a $1 billion commitment in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat, supports member states to adapt to the new trading regime.
Launched in 2018, the Intra-African Trade Fair has attracted over $170 billion in trade and investment deals across four editions, drawing 180,000 participants.
The Africa Trade Gateway, a digital platform, and Afreximbank Africa Trade Centres are further breaking information barriers and facilitating investment across the continent.
The Bank also led efforts to harmonise over 500 standards in pharmaceuticals, agriculture, textiles, and automotive industries, while expanding certification and testing centres across Africa.
Through collaboration with the AfCFTA Secretariat and COMESA, Afreximbank launched the African Collaborative Transit Guarantee Scheme, supported by $1 billion in guarantee limits, to ease the movement of goods across borders.
Additionally, Afreximbank has supported industrialisation by investing in special economic zones and major projects such as Nigeria’s Dangote Refinery, while strengthening socio-economic and cultural ties between Africa and the Caribbean through CARICOM partnerships.
Under Prof Oramah’s leadership, Afreximbank disbursed over US$10 billion to help African economies withstand the impact of the COVID-19 pandemic and provided a US$2 billion facility to secure vaccines for Africa and the Caribbean.
The Bank also launched the African Trade and Distribution Company (ATDC) to overcome logistical barriers in cross-border trade and initiated the African Medical Centre of Excellence to improve access to quality healthcare.
Praise from successor
Afreximbank President-designate Dr George Elombi described Prof Oramah as “one of the few in the world – the 0.8 per cent – who combine vision and execution.”
“Under his leadership, Afreximbank and its partners have built a strong foundation for enhancing intra-African trade and industrial development. He turned decades-old political aspirations into tangible economic gains,” Dr Elombi said.
The legacy conference concluded with tributes from staff, business leaders, political figures, and members of the public whose lives and careers were touched by Prof Oramah’s work.
