The shareholders of the African import-export bank (Afreximbank), have decided to reappoint the president of the bank, Professor Benedict Oramah. It was during the 27th annual general meeting of shareholders of the Bank in Cairo on June 14. The astute NigeriaN Finance expert will direct the destinies of the Pan-African multilateral bank for a second 5-year term.
Benedict Oramah is using his new mandate on achieving an integrated African market. “We want an Africa where the foundations of the African Continental Free Trade Agreement are laid quickly so that the 84,000 km of borders that have separated us for centuries can begin to fall,” he said. during his statement of acceptance.
Also during his speech to shareholders, he also indicated that between 2015 and 2019 Afreximbank disbursed 30 billion US dollars or 17,495 billion FCFA to support African trade. Of which more than US $ 15 billion is spent on financing and promoting intra-African trade: “We will aim to double the financing of intra-African trade so that at the end of my mandate it will represent no less 40% of the bank’s total assets, with cumulative disbursements, on a renewable basis, over 5 years exceeding 30 billion US dollars, “he said.
At this 27th general meeting, the shareholders also approved the re-election of Stefan-Luis François Nalletamby and Kee Chong Li Kwong Wing as Directors representing the “A” and “B” shareholders.
