The African Export-Import Bank celebrates its thirty years of existence from June 18 to 21, 2023 in Accra, capital of the Republic of Ghana. On the occasion of this celebration of the pearl wedding, the bank’s managers have nurtured great ambitions for the next three decades.

Despite the numerous actions carried out for the development of intra-African trade, in thirty years of existence, the African Export-Import Bank (Afreximbank) aims to achieve all the objectives set by its founding fathers.

These include, among other things, establishing a free trade area between the different countries; to set up a Pan-African Payments and Clearing Union; establish a common external tariff, develop trade between African countries by organizing and participating in African fairs and exhibitions and by granting transport and transit facilities; and the gradual liberation of national currencies from all external attachments.

While some have been completed or are in the process of being completed, others are still awaiting completion.

“It took 30 years for the Bank to reach $30 billion in total assets and collateral. I look to the future with confidence and declare that the Bank will double in size to $60 billion in less than 6 years,” Afreximbank Chairman Prof. Benedict Oramah said at the official opening of the 30th Assembly . annual general, Monday, June 19, 2023.

“I make this projection with faith in your trust,” he added, and also because we begin the journey into the next 30 years on a platform of a “mother” who gave birth to many offspring, offering services ranging from project preparation to market access services, operating in our new, larger continent of Afri-Caribbean.

With the results garnered in thirty years, Professor Oramah said he was convinced that Africans can develop their continent if there is courage and determination. The ambition of his bank, he insisted, is to finance trade in Africa with the currencies of African women.

“… it is important to have strong institutions”

“Let me remind you that even though we are celebrating our 30th anniversary today, the journey to the next 30 years will require us to win the battle against those who are doing everything to weaken African multilateral institutions. We can say no to them and make sure we don’t want tools to destroy what Africa’s pioneering leaders worked hard to build,” the Chairman of the Board of Afreximbank said.

For the President of Ghana, Nana Akufo-Addo, the Pan-African bank is committed to the development of the African continent and its diaspora.

He noted that in three decades it has become one of the most essential institutions for development projects.

“When you are dealing with powerful external financial institutions, it is important to have strong institutions. We must reflect on the ways and means of helping the bank to work more for the development of the continent,” said the Ghanaian Head of State.

And this happens, in the expectation, by increasing the capital which is currently at 6 billion dollars, but also by improving its rating. To this, Nana Akufo-Addo considered that it is important to strengthen coordination between African institutions so that they work in the interest of Africans.

“I appeal to the African Union to recognize Afreximbank as a specialized agency,” said President Akufo-Addo.

Source: Burkina Information Agency