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in Banking

Minister Lauds the Contributions of Afreximbank to Ghana’s Economy

Maynard Championby Maynard Champion
May 22, 2023
Reading Time: 4 mins read
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Afreximbank Posts US$813.5m Profit Despite Global Economic Uncertainty

Afreximbank

Dr Mohammed Amin Adam, the Minister of State at the Finance Ministry, has hailed the contribution of the Afreximbank to the economy of Ghana over the years.

According to the minister, the bank has been a worthy partner supporting many development projects in the country over the years. He thus, cited the bank’s recent provision of $750 million during the COVID-19 pandemic as a notable feat.

Dr Adam lauded the board of directors and management of the bank for working to grow the assets of the bank from $5 billion to about $27 billion as of September 2022.

Dr Adam expressed the hope the annual meeting in Accra would outline solutions to address the economic challenges facing Africa, adding Ghana is proud to host the Annual General Meeting in Accra.

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Meanwhile, the President and Chairman of the Board of Directors of the Afreximbank, Professor Benedict Oramah, speaking at a media launch of the meeting in Accra, said the meeting in Accra would, among other things, discuss issues on finance, energy, and transportation. “The meeting will discuss challenges facing Africa and proffer solutions to address them,” he stated.

Prof Oramah explained that the choice of the overarching theme “Delivering the Vision: Building Prosperity for Africans” was informed by the critical role that Afreximbank has played over the last three decades in the promotion of economic integration in Africa through support for intra-African trade and investment, diversification of sources of growth and exports for inclusive growth and shared prosperity.

“At the same time, the event provides the opportunity to confront challenges and re- energise Africans towards the attainment of the Pan-African Vision of an Integrated, prosperous, and peaceful Africa, driven by its citizens, representing a dynamic force in the international arena.”

Professor Benedict Oramah

The First Gathering of Global Africa

Prof Oramah stated that the 30th Anniversary celebration will be the first gathering of Global Africa, where the African participating states would welcome the new participating States from the Caribbean.

“It is a gathering of Africans from all walks of life, with stakeholders traversing Africa, the Caribbean, Europe, Latin America, and Asia. We are also expecting strong participation from the Caribbean Community, including Prime Ministers, government officials and corporate leaders, as well as members of the Diaspora Community from other parts of the world.

“Also, the African Union (AU) and its agencies, including the AfCFTA Secretariat, as well as the academic community, experts, and leaders from other regions of the world as well as senior representatives and officials from multilateral and international organisations will participate in the meeting.”

Professor Benedict Oramah

Prof Oramah commended the government for the decision to host the programme in Accra.

Afreximbank Partners ATPS, Provides Support of US$ 500,000
Prof. Benedict O. Oramah – President Afreximbank

“The choice of Ghana as host of Afreximbank’s 30th Anniversary wasn’t a difficult one. First, Ghana is the birthplace of Pan-Africanism, and its pioneer and successive leaders have shown unwavering commitment to the Pan-African ideals. Also, the recent successful Year of Return ushered in a new sense of belonging and oneness irrespective of geographic boundaries.”

Professor Benedict Oramah

The Governor of the Bank of Ghana, Dr Ernest Addison, on his part, said Afreximbank has been one of the great partners of Ghana.

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Dr Ernest Addison noted that when other development partners shied away from Ghana because of the current financial crisis the country was facing, Afreximbank came to the aid of the country. He wished Afreximbank well for a successful conference in Ghana.

Bank of Ghana Goes Hawkish, Hikes Monetary Policy Rate By 150 Basis Points
Dr Ernest Addison, Governor of BoG

Ghana will play host to the 30th Annual Meeting of the African Import-Export Bank (Afreximbank) in Accra between June 18-22, 2023.

It is expected to be attended by more than 3000 participants, including shareholders of the Bank, African leaders and senior government officials from within and outside Africa, Ministers, Central Bank Governors, Chief Executive Officer of major banks, non-banks, banking and financial experts, academics, representatives of international organisations, development partners, non-governmental organisations, civil society organisations and Small and Medium-Scale Enterprises.

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The three-day programme to be held at the Accra International Conference Centre, will also mark the 30th anniversary of the bank. President, Nana Addo Dankwa Akufo-Addo is expected to open the meeting on the theme: “Delivering the Vision: Creating Prosperity for Africans.”

READ ALSO: The Approved IMF Loan to Influence the Direction of the Stock Market and Attract Foreign Investment Back- Analyst

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