Afreximbank’s financial position grew almost eightfold during my tenure, says Benedict Oramah

Benedict Oramah, the outgoing president of the African Import and Export Bank (Afreximbank), says the organisation’s financial position grew almost eightfold from $6 billion in 2015 to $44 billion in 2025.

Giving his final presidential speech on Friday during a farewell conference and investiture ceremony in Cairo, Egypt, Oramah said the bank also paid out $1.4 billion in dividends to shareholders during the same period.

“…we kept a sharp focus on institutional strength and financial health and grew the balance sheet and guarantees almost eightfold from $6 billion in September 2015 to almost $44 billion in September 2025,” he said.

“We grew revenues and net income equally and paid out an aggregate of almost $1.4 billion to shareholders as dividends for the same period.”

Oramah, who was ending a two-term leadership stint that started in 2015, further spoke of the bank’s achievements under his stewardship.

He said the intra-African trade fair, which has been held four times, attracted 180,000 visitors and generated $170 billion in trade and investments.

The outgoing president said the pro-African payment and settlement system, which is backed by Afreximbank’s $3 billion clearing and settlement facility, is operational in 20 countries and counting.

“After more than 60 years of political independence, we are finally on the verge of integrating the continent’s 42 payment systems into a single payment rail,” he said.

“And finally, we have made African currencies legal tenders across African borders.

“The AfCFTA Adjustment Fund, aimed at supporting AfCFTA participating states to adjust in an orderly manner to the new trading regime, is today a reality.

“Thanks to the partnership between the AfCFTA and the African Central Bank, as well as the bank’s $1 billion commitment to support a fund.”

Oramah highlighted that the Africa trade gateway, the bank’s digital platform, uses digital technology to break down information barriers, while Afreximbank’s Africa trade centres offer a solid foundation for inter-African trade and investment information.

“About 700 standards for pharmaceuticals and medical equipment, agriculture, automobiles, textiles, and so on, have been harmonised, enabling smoother inter-African trade,” the outgoing president said.

“We are building test and certification centres across Africa to ensure that there is infrastructure to implement the standards we have helped to harmonise.

“Working with the AfCFTA secretariat and commissioner, we have launched the Africa collaborative transit guarantee scheme, supported by $1 billion in guarantee payments from Afreximbank.

“So today, and one day, it will be possible for goods to move from Cape to Cairo with just one transit fund.”

Oramah said the bank has supported the emergence of heavy industries, such as the Dangote Refinery and Petrochemical facility, which is exporting within Africa and internationally.

He said the bank has supported industrial parks and special economic zones across Africa, creating manufactured exports and processing goods that were previously exported as commodities.

According to the outgoing president, Afreximbank provided $10 billion for COVID-19 containment and $2 billion for vaccine procurement for Africa and the Caribbean.