Abuja, June 25, 2025 – The African Export-Import Bank (Afreximbank) opened its 32nd Annual Meetings (AAM2025) in the Nigerian capital Abuja on Wednesday, June 25. A major event, focused on African trade integration, bringing together over 6,000 participants, including heads of state, ministers, leaders of financial institutions, businessmen, billionaires, and hundreds of journalists from across the continent.
The historical role of the institution in developing the continent’s financial infrastructure and promoting intra-African trade was highlighted by various speakers.
Speaking, Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), recalled Afreximbank’s spectacular rise:
“Established in 1993 with an initial capital of $750 million, it reached $40 billion in capital by the end of 2024. It now operates in 51 African countries.”
He noted that Nigeria is the largest beneficiary of Afreximbank financing, with $52 billion granted over the past ten years (52% of the bank’s commitments), mainly in trade finance and project financing. In a context of trade wars and nationalist retreat, Mr. Cardoso emphasized the importance of Afreximbank’s role in anchoring Africa in global value chains.
For his part, Hon. Cassiel Ato Baah Forson, Minister of Finance of Ghana, praised Afreximbank’s institutional advances, particularly the establishment of PAPSS (Pan-African Payment and Settlement System), a pan-African system for payment in local currencies:
“Afreximbank embodies African solutions to African problems,” he said.
Meanwhile, Samaila Zubairu, CEO of the Africa Finance Corporation (AFC), discussed the close collaboration between AFC and Afreximbank in continental infrastructure projects, with a stated ambition to transform the African textile sector. He also highlighted the AMFI (Africa Multi-sector Fund Initiative) platform, which already manages $17 billion and could exceed $200 billion in partnership with the African Development Bank (AfDB).
Tribute was paid to Babacar Ndiaye, former President of the AfDB, recognized as one of the founders of Afreximbank, through a video outlining his vision of an independent African bank dedicated to trade.
Present in Abuja, Terrance Drew, Prime Minister of Saint Kitts and Nevis, pleaded for better coordination between Africa and its diaspora, which he describes as the continent’s sixth region. He called for a “strategic union of Global Africa,” integrating Afro-descendants into the continent’s economic dynamics.
A highlight of this first day, the annual economic report of Africa was unveiled by Yemi Kale, Chief Economist and Managing Director of Research & International Cooperation at Afreximbank. It highlighted the imbalances in global trade dominated by the dollar, barriers to commercial financing, and the low share of African direct investments. It called for strengthening the AfCFTA, expanding access to trade finance, and boosting intra-African investment.
Finally, Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA), praised Afreximbank’s commitment to operationalizing integrated platforms like PAPSS, a true catalyst for African economic integration.
