Afreximbank Concludes Oramah’s Tenure with 2025 Annual Meetings in Abuja

The African Export-Import Bank (Afreximbank) will hold its 2025 Annual Meetings in Abuja from June 25 to 28, marking a fitting conclusion to the tenure of President and Chairman, Benedict Oramah, whose final term ends this year.

Oramah joined the Bank shortly after its founding in 1993 and rose from analyst to president in 2015. Under his leadership, Afreximbank has evolved into a comprehensive institution central to Africa’s economic transformation.

Despite global challenges – including geopolitical tensions, rising borrowing costs, and climate disruptions – the Bank delivered strong financial results in early 2025. In Q1 net profit reached US$215.4 million, up from US$178.7 million a year earlier, driven by a 4.53 percent increase in net interest income to US$411.2 million.

Total assets and contingencies grew 6.4 percent year-on-year to US$42.7 billion, largely due to a 58 percent jump in cash reserves to US$7.4 billion, reflecting successful fundraising and loan repayments. On-balance-sheet assets increased 4.85 percent, while contingent liabilities rose 18 percent, signaling growing demand for trade services.

Net loans and advances dipped slightly to US$27.8 billion from US$29.0 billion at end-2024, due to early sovereign repayments. However, asset quality remained solid, with non-performing loans at 2.44 percent.

Liquidity improved, with liquid assets accounting for 20 percent of total assets – up from 13 percent at year-end 2024. Shareholders’ equity rose 3.4 percent to US$7.5 billion, supported by retained earnings and capital subscriptions under General Capital Increase II.

Beyond trade finance, Afreximbank launched the Fund for Export Development in Africa (FEDA) in 2021 to bridge the continent’s equity financing gap. Targeting sectors like manufacturing, logistics, agro-processing, and digital infrastructure, FEDA had deployed US$579 million as of Q1 2025, including US$565.3 million in 2024 alone.

The Bank has also been instrumental in supporting the African Continental Free Trade Area (AfCFTA). Among its initiatives is the Pan-African Payment and Settlement System (PAPSS), which enables real-time local currency transactions and is set to expand into the Caribbean.

Other programs include the AfCFTA Adjustment Fund, Transit Guarantee Scheme, and the Automotive Strategy aimed at building a regional vehicle manufacturing value chain.

In 2023, Afreximbank launched AfrexInsure, a specialty insurer covering trade-related risks. Its early achievements include providing all-risk construction insurance for the Afreximbank Africa Trade Centre in Harare.

Oramah’s leadership has also strengthened ties with the Caribbean. During the pandemic, the Bank partnered with the region on vaccine procurement and later opened an office in Barbados, along with approving a US$1.5 billion credit facility for Caribbean nations.

This growing partnership will take center stage at the fourth AfriCaribbean Trade and Investment Forum (ACTIF), to be held July 28–29, 2025, in St. George’s, Grenada. Co-hosted by the Grenadian government, ACTIF 2025 is expected to draw 1,000 participants, including heads of state and investors, focusing on minerals, processed foods, transportation, and other strategic sectors.

Bilateral trade between Africa and the Caribbean is projected to reach US$1.8 billion by 2028 – up from less than 1 percent of their combined exports today.

ACTIF 2025 will underscore Afreximbank’s broader mission: advancing economic transformation across Africa and the Caribbean through trade, investment, and industrial development.