Afreximbank disburses $140 billion to African countries in 10 years

The African Export-Import Bank (Afreximbank) has disbursed $140 billion to African countries in the last 10 years, the President of the institution, Prof. Benedict Oramah, has said.

Oramah, who is the President disclosed this in Abuja during the official signing of the Host Country Agreement for the 2025 Annual General Meeting (AGM) of the bank between Nigeria and Afreximbank.

Oramah, who is on exit from the bank after 31 years of meritorious service, submitted that the bank’s interventions that were once viewed as impossible have not only become a reality but are also transforming many African countries from commodity-dependent economies into major industrial hubs.

These, he said, are creating the capacity for Africans to resolve their socio-economic development challenges. He commended Nigeria for being a steadfast partner and a strong pillar of the bank, noting that the government has consistently responded positively to capital calls, injecting substantial equity into the bank even when the economic condition appeared difficult.

Also, the government has removed regulatory obstacles that would have hindered the Bank’s operations in Nigeria, he said. Oramah stressed that being the largest recipient of the bank’s trade and development finance, Nigeria has attracted cumulative disbursements of about $52 billion thus becoming the first beneficiary of several flagship transformative projects.

Among the flagship projects, according to him, is the African quality assurance centre, one of which has already commenced operations, while two others are currently under development.

Another notable project is the Afreximbank African Trade Centre (AATC), a facility that includes a hotel, conference centre, technology hubs, and other amenities.

Also, the African Medical Centre of Excellence (AMCE) is expected to be commissioned later this year while the 500-bed AMCE, estimated to cost approximately $750 million, is anticipated to transform Abuja into a medical tourism hub in the coming years.

“AMCE-linked investments are expected to reach one billion dollars as allied projects, including the medical degree awarding school, are developed. Afreximbank along with the African Petroleum Producers’ Organisation (APPO) is leading the establishment of the African Energy Bank. The Energy Bank, which will be hosted by the Government of Nigeria in Abuja, is being established as an initial capital of $5 billion, of which Afreximbank intends to provide circa five per cent ($250 million,” he said.

“Afreximbank’s interventions have transformed many economies, reducing dependence on raw commodities, adding value to Africa’s resources and empowering Africans to drive their economic development,” the President said.

The 2025 AGM, scheduled for June 23 to 27, is expected to attract global financial institutions, development partners and private sector stakeholders, further solidifying the country’s role as a key driver of Africa’s economic transformation.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, expressed Nigeria’s readiness to host the high-profile event, highlighting its significance in strengthening regional trade and economic cooperation.

Edun said: “Afreximbank has played a pivotal role in providing innovative financing solutions over the years. It is a powerhouse of financial innovation, creativity, and delivery, supporting both public and private sector growth across Africa.”