Benedict Oramah’s Transformative Era at Afreximbank Concludes After a Decade of Unprecedented Growth
Professor Benedict Oramah, the visionary President and Chairman of the African Export-Import Bank (Afreximbank), has announced his departure, closing a remarkable ten-year chapter of leadership. His final address at the 32nd Annual Meetings in Abuja marked the end of a tenure that has fundamentally reshaped the landscape of African development finance and positioned the bank as a pivotal force for pan-African progress.
Oramah’s departure signifies more than a leadership transition; it represents the conclusion of an era defined by aggressive growth and strategic innovation. Since taking the helm in 2015, he has steered Afreximbank from a conventional trade finance institution into a dynamic powerhouse for economic sovereignty, championing African solutions for African challenges. His emotional farewell was delivered at the Transcorp Congress Hall, the same venue where he witnessed the signing of the bank’s founding charter over three decades ago.
A Decade of Monumental Financial Expansion
Under Professor Oramah’s stewardship, Afreximbank’s financial footprint expanded dramatically. The bank’s total assets and guarantees skyrocketed by over 800%, surging to an impressive US$43.5 billion by April 2025. This astounding growth is a testament to a bold strategy that prioritized scaling the bank’s capacity to meet the continent’s evolving needs. Concurrently, total revenues experienced a seven-fold increase, climbing from US$408 million in 2015 to US$3.24 billion. This robust financial health enabled Afreximbank to undertake ambitious projects previously considered beyond the scope of a continental institution.
Championing Pan-African Trade and a Digital Future
Beyond the balance sheet, Oramah’s legacy is defined by his commitment to practical pan-Africanism, particularly through the African Continental Free Trade Area (AfCFTA). A key component of this strategy involved embracing Africa’s burgeoning digital economy. Afreximbank became a critical financier for initiatives like the Pan-African Payment and Settlement System (PAPSS), a revolutionary financial market infrastructure designed to facilitate seamless cross-border payments in local African currencies. This move directly supports the continent’s tech ecosystem by reducing transaction friction and costs, empowering fintech startups and digital businesses. His leadership also saw increased investment in Africa’s creative and cultural industries, recognizing their potential in a digital-first world.
As Professor Oramah steps down, he leaves behind an institution transformed in scale, scope, and ambition. His leadership has not only fortified Afreximbank financially but has also cemented its role as an indispensable catalyst for trade, industrialization, and technological advancement across Africa. The search for his successor will undoubtedly focus on finding a leader capable of building on this powerful foundation to navigate the opportunities of an increasingly interconnected and digital global economy.
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