Cairo, 28 November 2025: – African Export-Import Bank (Afreximbank) joins the people of Nigeria, the continent and global community in mourning the passing of Mr. Olusegun Awolowo “Segun” on 20 November 2025 after a protracted illness.
Mr. Awolowo was a visionary champion of intra-African trade. His roles included President of the ECOWAS Trade Promotion Organisation, esteemed Intra-African Trade Fair (IATF) Ambassador and Secretary of Nigerian National Action Committee on the African Continental Free Trade Area (NAC-AfCFTA). He was also the longest serving Executive Director of the Nigerian Export Promotion Council (NEPC) from 2013 to 2021 and he championed policies, programmes, and partnerships that deepened Nigeria’s export competitiveness and elevated its presence and impact at the continental level.
Mr. Awolowo’s strategic leadership was instrumental in integrating Nigeria into the continental trading system through the African Continental Free Trade Area (AfCFTA) and driving progress towards a more integrated and prosperous continent. As a dedicated and longstanding IATF Ambassador, he became a major driving force behind the Trade Fair’s success, promoting it as a key platform for trade and investment.
Further, he consistently advocated for increased participation on Nigeria in IATF and promoted the event as a key platform for fostering trade and investment across the continent. His strategic guidance was invaluable in shaping the implementation of AfCFTA, ensuring that it served as a catalyst for economic growth and development. His ability to inspire and mobilise stakeholders across sectors was testament to his exceptional leadership.
The passing of Mr. Olusegun Awolowo is a significant loss to Nigeria and the African continent. His legacy will continue to inspire and guide our efforts to build a more integrated and prosperous Africa.
Afreximbank extends its heartfelt condolences to Mr. Awolowo’s family, the Government and People of Nigeria. We share in their grief and celebrate the extraordinary life of a remarkable African leader and champion of intra-African trade.
He will be dearly missed.
ENDS
About African Export-Import Bank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 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 industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank 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 has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity 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.
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