Latest news with #AfreximbankAnnualMeetings
African Manager
26-06-2025
- Business
- African Manager
Tunisia–Nigeria Business Council officially launched
The Tunisia–Nigeria Business Council (TNBC) was officially launched during the Afreximbank Annual Meetings (AAM), held from June 25 to 28, 2025, in Abuja (Nigeria), the Tunisia-Africa Business Council (TABC) announced on Wednesday. This is a strategic initiative led by TABC as part of its policy to strengthen economic ties with Sub-Saharan African markets. On this occasion, Chris Eruba was officially introduced as the president of the TNBC. The TNBC aims to become a key bilateral platform dedicated to structuring, enhancing, and promoting economic, industrial, commercial, and financial partnerships between Tunisia and Nigeria. TABC reaffirmed its commitment to supporting Tunisian companies in their expansion strategies across Sub-Saharan Africa, particularly in Nigeria, a country with over 220 million people and promising economic prospects. It also noted that Tunisian exports to Nigeria have quadrupled in one year, rising from 7 million dinars between January and April 2024 to 82 million dinars by the end of April 2025. Nigeria now ranks among the top Sub-Saharan destinations for Tunisian exports. Interested companies can register via the following link: [
Al-Ahram Weekly
26-06-2025
- Business
- Al-Ahram Weekly
Afreximbank launches its African Trade Report 2025 - Economy
The African Export-Import Bank (Afreximbank) launched its flagship African Trade Report 2025, themed 'African Trade in a Changing Global Financial Architecture,' on Thursday during the Afreximbank Annual Meetings (AAM2025) in Abuja. The report examines Africa's trade performance in a challenging global environment characterized by rising geopolitical tensions, new trade barriers, and financial uncertainty. It also analyses how the continent could leverage these challenges into opportunities to enhance its resilience and navigate the evolving landscape. 'This year's report provides a compelling roadmap for Africa to reposition itself in a volatile global economy. From strengthening trade finance systems to accelerating the AfCFTA, the message is clear: Africa must turn global fragmentation into an opportunity for industrialisation, digital progress, and greater control over its financial systems,' Professor Benedict Oramah, the president and chairman of the Afreximbank Board of Directors, said. Dr. Yemi Kale, Afreximbank's group chief economist and managing director of research, noted that despite global headwinds, Africa's trade rebounded strongly in 2023. Trade between African countries grew by 12.4 percent to reach $220.3 billion, from a contraction of 5.9 percent in 2023. "This shows the tangible benefits of AfCFTA implementation, even as the continent contends with rising inflation, sovereign debt risks, and a persistent trade finance gap,' he added. The report also indicates that Africa's total merchandise trade rebounded, increasing by 13.9 percent in 2024 to $1.5 trillion, following a 5.4 percent contraction in 2023. However, Africa still makes up only 3.3 percent of global exports. This provides a clear signal that the continent must do more by moving away from commodity exports and accelerating its industrialization process if it is to enhance its integration into global value chains and boost intra-African trade. It also requires better access to trade finance to bridge the estimated $100 billion gap. While the global economy, which slowed to 3.3 percent growth in 2024, is expected to decline further in 2025, Africa's growth held steady. The continent's economy grew by 3.2 percent, supported by strong commodity prices and better public finances. Still, growth remains uneven across the continent. Moreover, Afreximbank's report emphasizes the importance of advancing the African Continental Free Trade Area (AfCFTA), which is becoming a foundation for trade resilience across the region. It also highlights the expanding use of the Pan-African Payment and Settlement System (PAPSS), which is helping to reduce reliance on foreign currencies and making cross-border trade more efficient. Furthermore, the report provides practical guidance on harmonizing trade rules and regulations across countries, unlocking investment from African institutions such as pension funds and sovereign funds, and utilizing Africa's new representation in the G20 to advocate for overdue global reforms. This includes ensuring a fairer share of global financial resources, such as Special Drawing Rights, an international reserve currency created by the IMF, and increasing access to climate finance. It also calls for adjustments in credit ratings to more accurately reflect the strength and potential of African economies. Additionally, it highlights the growing significance of the Alliance of African Multilateral Financial Institutions (AAMFI), as it increases funding for development and helps rebuild a financial ecosystem that works better for Africans. In 2024, Afreximbank alone disbursed more than $17.5 billion in trade finance. It plans to increase that amount to $40 billion by 2026. As Africa faces a rapidly changing global environment, the report offers more than just analysis. It provides a transparent and practical plan for building a stronger, fairer, and more resilient African economy, driven from within the continent. Follow us on: Facebook Instagram Whatsapp Short link:
Zawya
12-02-2025
- Business
- Zawya
Nigeria to Host 32nd Afreximbank Annual Meetings from 23 to 28 June 2025
The Federal Government of Nigeria and Afreximbank ( have signed the Host Country Agreement for the 32 nd Afreximbank Annual Meetings (AAM) in Abuja, Nigeria, from 23-28 June 2025. Afreximbank Annual Meetings is one of the most anticipated gatherings on the African continent, featuring high-level policy discussions, presentations, and side events on issues pertinent to the socio-economic development of Africa as well as business networking sessions that drive integration through trade and investments. The 32 nd Afreximbank Annual Meetings in June 2025 is expected to be the largest gathering of Global Africa in the Bank's Annual Meetings history, bringing together over 6,000 delegates including Heads of State, government officials, captains of industry, businesspeople, decision-makers, academics, respected experts and advisors from Africa, the CARICOM region and globally. Commenting on the significance of the agreement, H.E. Wale Edun, the Honourable Minister of Finance and Coordinating Minister of the Economy for Nigeria, emphasised Nigeria's strong partnership with Afreximbank and its commitment to fostering trade and economic growth for Africa and beyond. He said: 'Nigeria is honoured to host the 2025 Afreximbank Annual Meetings, which will serve as a critical platform to drive discussions on trade financing, economic growth, and investment opportunities across Africa.' He added: 'This event is a testament to our commitment to strengthening Africa's financial sector and positioning Nigeria as a hub for economic transformation.' Professor Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said:"We greatly appreciate the Federal Government of Nigeria's acceptance to host the 2025 Afreximbank Annual Meetings, which demonstrates our united determination to accelerating Africa's economic growth and development. 'The Government of Nigeria has been a steadfast partner and a strong backbone of the Bank. It has consistently responded positively to capital calls, injecting significant equity into the Bank even when the economic environment seemed challenging; removing regulatory hurdles that would otherwise inhibit the Bank's business in Nigeria, and being at the forefront of rallying continental support for the Bank.' 'This year's theme, 'Building the Future on Decades of Resilience,' reflects the progress that we have made over the past three decades and the bold steps that are imperative to navigate the increasingly complex global landscape. The African Continental Free Trade Area (AfCTA) has given our continent an unrivalled opportunity to deliver sustainable economic transformation that will propel Africa's economic growth and raise living standards and prosperity for all Africans. 'Afreximbank Annual Meetings will provide a platform to reflect on our journey, celebrate contributions, and chart a path forward that reinforces our continent's economic independence and global influence. We look forward to welcoming and meeting stakeholders from across Africa and other parts of the world to Abuja for this prestigious event.' Prof. Oramah noted that Nigeria's unwavering support to Afreximbank has been the primary driver of the Bank's strong continental impact. 'The impact on the Nigerian economy is equally palpable. Being the largest recipient of the Bank's trade and development finance, Nigeria has attracted cumulative disbursements of about US$52 billion in addition to being the first beneficiary of several flagship transformative projects being executed by the Bank such as the African Medical Centre of Excellence (AMCE), African Quality Assurance Centre (AQAC), Afreximbank African Trade Centre (AATC), among others. This year's event comes on the backdrop of the highly successful 2024 AAM, held in Nassau, The Bahamas and attended by over 4,000 delegates, including over 20 Heads of State, government ministers, high-level dignitaries, global experts, and world-renowned celebrities and artists. Afreximbank was established when the shareholders held their first General Meeting in Abuja, Nigeria in October 1993. Today, Nigeria is Afreximbank's second-largest shareholder. Distributed by APO Group on behalf of Afreximbank. About Afreximbank African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance, facilitate and promote intra and extra-African trade. For over 30 years, the Bank has been deploying innovative instruments to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the AfCFTA, Afreximbank has in partnership with the African Union Commission and AFCFTA Secretariat launched the Pan-African Payment and Settlement System (PAPSS) which has been adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the African Free Trade Area agreement. The AfCFTA Secretariat and Afreximbank have created a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of December 2023, Afreximbank's total assets and contingencies stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, 'the Group'). The Bank is headquartered in Cairo, Egypt. For more information, visit:
