In a powerful opening to the 32nd Annual Meetings of the African Export-Import Bank (Afreximbank) in Abuja, Nigeria, African leaders and financial experts gathered to reaffirm the continent’s commitment to building economic resilience, strengthening institutions, and asserting strategic autonomy in a world marked by rising geopolitical uncertainty and economic fragmentation.
Under the theme “Building the Future on Decades of Resilience,” the gathering spotlighted Afreximbank’s pivotal role as a bulwark against external shocks and as a catalyst for Africa’s transformation. The meetings come at a time when Africa faces the compounding effects of global volatility, reduced international aid, and a fractured multilateral trade system.
“This is a clarion call for Africa to look inward, harmonize our collective strength, and take our destiny into our own hands,” declared Mr. Denys Denya, Senior Executive Vice President of Afreximbank, in his opening address.
“We are entering a new era where uncertainties are giving way to instability. In this climate, the resilience and unity of African institutions will determine our future.”
Tracing Afreximbank’s history back to its establishment in the early 1990s, Denya reminded attendees that the bank was born in defiance of widespread Afro-pessimism and global debt crises. He emphasized that despite strong opposition to its formation–both from within and outside the continent–Afreximbank has evolved into a systemically relevant institution, supporting over 50 African countries and the broader development agenda.
“Over the past three decades, the Bank has stood firm amid shocks–from the collapse of the commodity super-cycle to the COVID-19 pandemic and the Ukraine crisis,” he said. “We provided counter-cyclical support when others pulled back. We backed industrial parks, built special economic zones, and this year, completed Africa’s first Medical Center of Excellence right here in Abuja.”
In a heartfelt welcome note, Prof. Benedict O. Oramah, outgoing President and Chairman of the Board of Directors of Afreximbank, described the 32nd Annual Meetings as not only a pivotal moment for the institution but also a personal milestone.
“It is with great pleasure that I welcome you to the 32nd Annual Meetings of Afreximbank, taking place in the vibrant city of Abuja,” he said.
“This gathering is particularly significant as it marks a memorable homecoming–reminiscent of our first-ever AAM here in 1993–and the beginning of the closing chapter of my 32 years of privileged service at the Bank.”
Prof. Oramah reflected on the Bank’s remarkable evolution over three decades and the development challenges and opportunities he has encountered throughout his tenure.
“We have mobilised over $250 billion into Africa, empowered industries long neglected by traditional financiers, and served as a lifeline during crises–from COVID-19 to broken supply chains,” he recounted.
“Our story is one of defiance against doubt, institution-building amid resistance, and steadfast belief in Africa’s potential.”
He praised the unwavering support from the Nigerian government, particularly its consistent capital commitments and efforts to ease regulatory constraints. Such support, he noted, has been instrumental in advancing Afreximbank’s operations in Nigeria and the West African sub-region.
Oramah emphasized that this year’s meetings serve as a platform for deep reflection and forward-looking strategy, particularly amid global headwinds such as deglobalization, protectionism, and geopolitical tension.
“Now more than ever, we must build strength from within and create a future that is unapologetically African and globally impactful,” he said.
“This year’s meetings are structured to tackle these themes head-on: examining our past, reimagining our institutions, and strategizing for a fractured and deglobalizing world.”
He called on all participants–from policymakers to private sector actors and academia–to collaborate in forging a roadmap that reinforces Africa’s economic sovereignty and builds inclusive prosperity.
“Let us guide our conversations toward unearthing the best pathway for economic emancipation in a world devolving into fragmentation,” Prof. Oramah urged.
“Thank you for joining us in this historic gathering. I wish you insightful deliberations and a memorable experience in Abuja.”
Speaking at the same event, Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, lauded Afreximbank’s transformative impact and deep partnership with Nigeria, which remains both a founding member and the bank’s largest single beneficiary.
“In the last few decades, Nigeria has received over $52 billion in trade and project financing from Afreximbank,” Cardoso disclosed.
“That is a reflection of our shared vision and mutual confidence. Afreximbank is not just a financier — it is a strategic enabler of Africa’s ambitions.”
Cardoso credited the bank for its responsiveness during key moments of crisis, including its role in Africa’s public health response during COVID-19 and its interventions in trade liquidity during global financial downturns.
The discussions emphasized that resilience must be intentional — anchored in foresight, governance, and strategic execution. Cardoso offered a framework for building enduring African institutions by emphasizing the importance of strategic foresight, which means investing for the next decade, not just the next quarter. He noted that crisis preparedness is vital, requiring institutions to plan for disruptions before they arrive. Clear communication is also essential; in moments of uncertainty, people look for clarity. And finally, robust governance systems are necessary to ensure institutional credibility and discipline.
“Resilience is not accidental,” he said. “It is engineered through deliberate choices and long-term thinking. We must build institutions that withstand storms–not just survive them.”
Both speakers urged greater engagement with the African diaspora and the full implementation of the African Continental Free Trade Area (AfCFTA) to boost intra-African trade and global competitiveness.
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Cardoso praised Afreximbank’s work in redefining diaspora engagement, especially through recent outreach to Caribbean nations. He also announced new Nigerian financial products–the Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account–designed to attract remittances and foreign investment from Nigerians abroad.
“These tools are game changers. They will help us diversify our reserve base, stabilize the Naira, and bring our diaspora closer to national development,” he noted.
The opening of AAM2025 was not just a ceremonial reflection but a bold declaration of Africa’s resolve to take charge of its future. Denya emphasized that the resilience built over the past 32 years must now be channeled into delivery, innovation, and unity.
“Afreximbank has helped us dream big — now it is time to deliver big,” Cardoso urged.
“Let us leave here not only inspired by the past, but united in the work that lies ahead.”
The 32nd Afreximbank Annual Meetings take place from June 25-27, 2025, in Abuja, Nigeria, convening African leaders, policymakers, central bankers, private sector stakeholders, and international partners.
Day one event features strategic sessions on Realizing the vision of the African founders: Progress towards Africa’s Trade and Economic Integration, Reflections on the Journey of Fore-leaders of Afreximbank towards their dreams: A conversation with former presidents of Afreximbank, Reclaiming Africa’s destiny through investment and innovation in Health care, AfCFTA implementation and overcoming the challenges of expatriation and building organizational resilience, among others.