The African Export-Import Bank (Afreximbank) has disclosed that it will hold its 30th Annual Meetings in Accra, Ghana.
The event, scheduled for June 18 to June 21, 2023, will mark the high point of the Bank’s year-long 30th-anniversary celebrations. The meeting is on the theme: ‘Delivering the Vision. Building Prosperity for Africans.’
In a statement, the Bank said thousands of people, including African and Caribbean leaders and senior government officials, African, Caribbean and other policymakers, corporate leaders, bankers, academia, and other thought leaders would be in Accra for the meetings.
There will be the Annual General Meeting of Shareholders and an extensive seminar programme, featuring plenaries and side events.
Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank in the statement relived the foundation of the bank and how the founding fathers started the innovative idea of setting up Afreximbank.
“We thank His Excellency President Nana Addo Dankwa Akufo-Addo and his Government for graciously accepting to host Afreximbank’s 30th Annual Meetings. Thirty years ago, the founding fathers of Afreximbank launched a bold initiative for Africans. The hard work of the past three decades, in pursuit of that vision, has shaped what Afreximbank has become today.”
Professor Benedict Oramah
Celebrating The Bank’s Achievements
The statement urged stakeholders including Member States, the business, and the international trade community to celebrate the Bank’s achievements and reflect on its future.
“Afreximbank Annual Meetings are open to all those interested and/or active in promoting African trade and supporting the socio-economic development of African economies,” the statement said. Meanwhile, the previous meetings took place in Cairo, Egypt in June last year.
Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures 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.
It has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA.
Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries in effectively participating in the AfCFTA.
At the end of 2022, Afreximbank’s total assets and guarantees stood at US$31.1 billion, and its shareholder funds amounted to US$5.2 billion. The Bank disbursed more than US$86 billion between 2016 and 2022.
Afreximbank has ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-), and Fitch (BBB).
Afreximbank’s mandate is to finance and promote intra- and extra-African trade using three broad services: Credit (Trade finance and Project finance); Risk Bearing (Guarantees and Credit Insurance); Trade Information and Advisory Services.
Afreximbank has 50 African member countries. As of June 2020, the bank had four regional locations and is in the final stages of establishing a fifth regional office for Central Africa.
Afreximbank works with African and non-African export credit agencies, development finance institutions, commercial banks, and other multilateral institutions to support trade finance activities in Africa.
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