THE African Export-Import Bank (Afreximbank) has positioned itself as a key financier for intra-African trade through its export-led industrialisation strategy, with outgoing president Benedict Okechukwu Oramah projecting the bank's total assets will exceed US$250 billion in the next decade.
He made these remarks during his speech at Afreximbank's 32nd Annual Meetings in Nigeria on Friday.
"As I look ahead, I see the Bank at no less than US$250 billion in total assets and guarantees in 10 years, when my successor would be stepping down," he said, acknowledging his predecessors' contributions to the bank's growth trajectory.
"I have no doubt that we would see that given the strength, depth and scope of the bank group today.
"And we must support and work towards the attainment of that vision, because it is by our owning and controlling a bank of that size that Africa can hope to escape from the shame of poverty and underdevelopment."
Oramah revealed that between 2020 and May 2025, Afreximbank invested approximately US$120 billion in Africa and the Caribbean, bringing total investments during his 10-year presidency to US$155 billion.
Keep Reading
- MIHR petitions govt on Lubimbi relocations
- ‘Timely IMF boost saved Zim’
- In Full: Twelfth post-cabinet press briefing: May 10, 2022
- Blocked funds choke NMB
"These must rank among the highest by any standards," he said.
"The fact that we invested US$155 billion and have a capital of US$43 billion tells you that Africans pay their debts. We have collectively, over the past decade, built a solid financial institution that is good for global Africa."
Under Oramah's leadership, Afreximbank experienced significant growth. Total assets and guarantees grew more than eightfold from September 2015 to April 2025, reaching US$43,5 billion.
Total revenues increased sevenfold to US$3,24 billion from US$408 million in 2015, while net income rose about 700% to US$1 billion from US$135 million over the same period.
Shareholders' funds grew from about US$1 billion in September 2015 to US$7,5 billion in April 2025, supported by internal capital generation and equity investments. Retainable capital also saw substantial growth, reaching US$4,5 billion from US$450 million in September 2015.
The bank diversified its funding sources through the African Resource Mobilisation Unit, established in 2016. African funding contributions rose from about 11% in 2015 to nearly 70% by April 2025.
Subsidiaries, including the Fund for Export Development in Africa and AfrexInsure, contributed significantly to profits while expanding investments across 13 countries in sectors such as technology, creative industries and energy infrastructure.
From 2015 to 2024, Afreximbank distributed US$1,35 billion in dividends to shareholders, with 50-70% being reinvested annually.
"Today, Afreximbank has become a trusted institution for mitigating the adverse impact of economic shocks and the primary source of vital medium- to long-term financing for the African private sector," Oramah stated.
The outgoing president highlighted the bank's crisis response efforts, including a US$10 billion intervention during the 2015-2016 commodity price shock that supported Nigeria, Egypt and Ghana.
During COVID-19, Afreximbank provided US$8 billion to help African states maintain trade payments and later established a US$2 billion facility that enabled the procurement of 400 million Johnson & Johnson vaccine doses for Africa and the Caribbean.
Between 2022 and 2023, the bank disbursed US$50 billion to help African economies secure grains, fertilisers and petroleum products while reducing dependence on Black Sea supplies.
Its Afreximbank Trade Payment Services platform, launched in 2020, has processed US$68 billion in trade payments across 61 countries, while facilitating US$33 billion in letters of credit.
The bank is expected to announce his successor on Saturday.