Cairo, July 9, 2025 — Africa’s premier trade finance institution, Afreximbank, has recently been hit by two consecutive credit rating downgrades that have sparked intense debate between development-driven priorities and strict global financial metrics. Moody’s on July 1 downgraded Afreximbank’s long-term issuer rating from Baa1 to Baa2, citing concerns over weaker asset performance and a shift
In a significant leadership transition, Dr. George Elombi has been named the new President of the African Export-Import Bank (Afreximbank), succeeding Prof. Benedict Oramah. The announcement was made following the conclusion of the 32nd Annual General Meetings of the bank, held in Abuja, Nigeria. Dr. Elombi, a seasoned executive within Afreximbank, brings over two decades
Abuja, Nigeria June 28, 2025 President Bola Tinubu made waves Friday, bestowing one of Nigeria’s highest honours – the Grand Commander of the Order of the Niger (GCON), on Professor Benedict Oramah, President of Afreximbank. The powerful gesture recognised Oramah’s “transformative” decade-long leadership of Africa’s premier trade finance bank. Why He Got the Gong: Energy
Abuja, Nigeria June 28, 2025 Nigeria’s struggling textile sector is set for a colossal boost! The African Export Import Bank (Afreximbank) announced Friday it will start building a gigantic $5 billion integrated textile factory right here in Nigeria next month. This mega project, revealed by Afreximbank’s outgoing President, Benedict Oramah, is a major part of the
In a landmark move aimed at unlocking the potential of Africa’s creative economy, Afreximbank has entered into a strategic equity partnership with the C.R.E.A.M Platform through CANEX Creation Inc. The deal marks a significant milestone in efforts to support and scale the continent’s vibrant creative industry. Announcing the partnership, the C.R.E.A.M Platform expressed pride in
Lagos, Nigeria — June 2025 President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, has reaffirmed the Bank’s steadfast dedication to Africa’s economic transformation, revealing that it committed a staggering $120 billion to support the continent’s development between 2020 and 2025. Prof. Oramah made this disclosure while delivering a keynote address on Day 3
In a transformative move for the continent’s healthcare sector, the African Medical Centre of Excellence (AMCE) has been unveiled in Abuja, Nigeria — an ambitious project led by the African Export-Import Bank (Afreximbank) in strategic partnership with King’s College Hospital, London. Described as a “first-of-its-kind” facility in West Africa, the AMCE is not only a
AfrexInsure, the specialty insurance subsidiary of the African Export-Import Bank (Afreximbank), has announced a strategic partnership with Oando Plc to provide tailored specialty insurance solutions for the energy company’s operations in Nigeria. The partnership aims to protect Afreximbank’s investment in Oando’s operations, including a $650m financing for Oando’s acquisition of Nigerian Agip Oil Company Assets
