Professor Benedict Oramah’s “A path to making Africa Great Again” may have been the alibi for Africa’s economic development. In his logic in the 38 page book could be found the reasons and intentions for the economic transformation the bank delved into in the last few years, NIK OGBULIE writes, with additional reports from CHRIS UBA.
Setting up a world-class economic enhancement effort for a continent of over one billion people and about 54 countries, could be the beginning of a march to an enduring transformation. It also shows a move towards great economic revolution, strong enough to empower the kind of rapid integration Africans need since 2018 when the IATF started. Many of our respondents did not want to talk about Oramah’s years or the enormous goodwill while serving Africa. They feel that their judgement would not capture the essence of his mission, because they say that he has been everything to Africans. One company chie ftain in Ghana noted that any statement in tribute to Oramah must be seen to be inclusive, because he is a Sherlock of trade. Many still feel that however they want to represent Oramah’s goodwill within all these years of his walking on the saddle at Africa’s most visible development bank would not just be to celebrate a great economic leader but a legacy. To many African’s and followers of the Oramah phenomenon, the former bank chief is a legacy. This could be why he radiates the aura of hope, through which many African chieftains have always imbibed the courage to do so many things in so many ways, that incur greatness in the face of abject difficulties.
It is obvious that Oramah has gifted the African community his intellect which has overtly been described as spherical, but there are strong indications that the dynamism with which innovations have been infused into the African systems by him remain largely the main reason the continent remains referenced and ascribed as the continent whose future could rule the world. Young Africans who are privileged to have worked with him would for a long time reason and act like those that were also privileged to have worked with Dr Nnamdi Azikiwe, Julius Nyerere, Kwame Nkurumah, Kenneth Kaunda and the rest of them. What Oramah has given to African include the allure of discipline, hard work, optimism and patriotism. This is why he sees the Intra-African Trade Fair (IATF) as one outing that offers Africans the explosive mechanism to stand on its own and determine what they want to be. Oramah’s developmental sequences in Afreximbank are seriously seen as building blocks. His confidence and ambition seriously clinch because the growth pathways among many African countries had remained like chasm and many leaders like him have just been into the pitfalls that have remained its predicament.
Which goodwill and gift would surpass that laden with the power of money which the IATF provides and shows to many African institutions that want to leverage the multiplier mechanism in their business activities for a region whose major difficulty remains poor credit flow? After Algiers2025, it could be on record that over $170 billion would have been made available to impact deals that would never have been developed across Africa.
If one critically looks into the eyes of participants from 4th-10th 2025, glamorous sparks of optimism would radiate with the hope that the years will beget more fortunes until Africa becomes a land of surging opportunities. One very good thing, as a matter of fact is Oramah’s ardent belief in a man called Barbacar Ndiaye who was the precursor of African trade , who eventually passed some important rudiments of the trade to Mr Edordu, Ekra and then the ‘terrible” Oramah, who has continued to see the virtues of Intra-African Trade as a generational statement. This therefor snowballs into a kind of cataclysm as the itrade fair aspect of the integration becomes something else; much bigger than how it started in Cairo in 2018 and apparently growing as it goes. What else would African be asking for?
He spent the last 10 years of his career presiding over the affairs of the Africa’s most important multilateral financial institution. After 32 years in the saddle, Oramah bows out in a cloud of adulation and honour. When a cream of Nigerian financial journalists were thrilled in a subtle lunch 25 years ago in Prague, in the company of his CEO we knew that his ascendency to the headship of the institution would be a matter of time.
For his education, the outgoing Afreximbank boss attended the Merchants of Light Secondary School in Oba, Idemili South Local Government of Anambra State in the South-East Nigeria. He obtained a bachelor’s degree in Agricultural Economics from the University of Ibadan, Nigeria, in 1983. Thereafter, he obtained the degrees of Master and Doctor of Philosophy from the University of Ife (now Obafemi Awolowo University) in the same field. He also holds an Advanced Management Certificate from Columbia Business School, New York. In 2018, he was appointed a Professor of International Trade and Finance by Adeleke University, Nigeria.
Oramah began his professional career at the Nigerian Export-Import Bank (NEXIM) in 1992 as an Assistant Manager. In March 1994, he joined Afreximbank as one of the pioneer employees. He was recruited by Mr Christopher Edordu, the pioneer president of Afreximbank, who was the Managing Director of NEXIM Bank in 1992. In other words, he took Oramah along to the Afreximbank. Edordu hired him based on his impeccable credentials and when he invited a crop of high performers at NEXIM to join him at the nascent Afreximbank, Oramah was enthusiastic.
Oramah served in various capacities in the Bank, including serving as Chief Analyst, Assistant Director in 1998, and Deputy Director in 2001, and substantive Director of the Planning and Business Development Department in 2004. He was promoted to Senior Director in 2007 and appointed Executive Vice President, Business Development and Corporate Banking in 2008.On July 13, 2015, he succeeded Jean-Louis Ekra, as the third President of Afreximbank. Because of his sterling performance, he was reappointment for a second five-year term in 2020 and he performed creditably well.
One of those who recognized the roles Oramah played in stimulating the economic developments in Africa is Nigeria’s Secretary to the Government of the Federation (SGF), Mr George Akume, who applauded Oramah for his uncommon patriotism and purposeful leadership while holding sway at the helms of the financial institution, which has contributed immensely to the economic development of the country. The SGF who spoke in July, this year, when the delegation from Afreximbank led by its Managing Director, Export Development, Mrs. Oluranti Doherty, in company of the CEO of African Medical Centre of Excellence (AMCE), Brian Deaver paid him a courtesy visit in Abuja, stressed the patriotic commitment of Prof. Oramah, who has played key role in securing credit facilities to Nigeria ,when the nation was in dire need, which has gone a long way to breath a new lease of life to the stressed economy.
Akume said, “Prof. Oramah has done a lot to impact the people and government of this country, Africa and beyond Africa. Since the day I met him, we became very close. Other financial institutions refused to extend credit facilities to Nigeria on the ground that we have reached allowable limit and has become increasingly difficult for Nigeria to import for the use of our people. But Prof. Oramah came to the rescue. He reshuffled the debts owed the bank by the government. He went further to extend more credit facilities to government. So in a way, he contributed immensely to the rehabilitation of the Nigerian economy.”
He added that Prof Oramah made Nigeria proud by facilitating the establishment of one of the best hospitals in Africa, the African Medical Centre of Excellence, with the state-of-the-art medical equipment and with well-seasoned medical personnel trained in all medical fields, saying that it was not a surprise to him when President Bola Tinubu conferred on him the second highest national award, Grand Commander of the Order of Niger (GCON) for his untrammelled feats and patriotism.
Joining the SGF to commend the feat achieved by the immediate-past President of Afreximbank is the Nigerian Association of Chamber of Commerce, Industry, Mine and Agriculture (NACCIMA), which noted that Oramah, during his tenure as President and Chairman of Afreixmbank, was very fruitful and will always be remembered. The National President of NACCIMA, Engr. (Dr.) Jani Ibrahim said “Oramah has done extremely well for intra-African trade and we in NACCIMA commend his stewardship”. He said that over the years, Prof. Oramah has played a critical role in driving sustainable development across Africa by channelling essential funding into major oil, gas, and infrastructure projects. Since assuming leadership of Afreximbank in 2015, he has pioneered innovative financing structures that have democratised energy access and accelerated industrialization and the growth of Africa’s strategically critical energy sector.
Recently, Afreximbank signed a US$1.35 billion financing facility in favour of Dangote Industries Limited. The facility is part of a larger approximately US$4 billion syndicated financing arrangement for Dangote Industries Limited, Africa’s largest industrial conglomerate. Afreximbank acted as the Mandated Lead Arranger, for the syndication
It would be recalled that some years ago, NACCIMA was in discussion with the African Afreximbank on the possibility of Nigeria hosting the 2017 Inter-African Trade Fair (IATF), an Afreximbank initiative that seeks to promote trade and investment in Africa.It said the move was because of the Fair’s beneficial multiplier effects on the host country, which include foreign exchange earnings, infrastructural development and reviving of dying Small and Medium Enterprises. NACCIMA represents the private sector in general on how to foster an investor-friendly environment and engender economic growth and appreciates the IATF initiative designed to increase intra-African trade in the continent.
Showering encomium on Oramah is Dr Muda Yusuf, former Director General of the Lagos Chamber of Commerce and Industry (LCCI), an economist and Founder/CEO of the Centre for the Promotion of Private Entrepreneurs (CPPE). He is also a board member of the Nigeria Customs Service (NCS).He eulogized Oramah, saying that his leadership quality at the Afreximbank was very remarkable.
Said Yusuf: “the impacts of Oramah’s Presidency at the Afreximbank have been very remarkable for the African continent. His presidency made credible impact on the intra-African trade, support for SMEs, the facilitation of payment systems within the African continent and the support for the African Continental Free Trade Area (AFCFTA).He also made very significant impacts on small businesses, especially in the area of trade finance, development of infrastructure on the continent, industrial development as well as support for the continent of Africa during the COVID-19.”
“These were very significant interventions by the Afreximbank during the tenure of Oramah as the President of Afreximbank. The payment system was particularly very significant. I am talking about the Pan-African Payment and Settlement System (PAPSS). PAPSS is designed to support AfCFTA, by promoting intra-African trade, lowering transaction costs, and improving liquidity within the continent’s financial ecosystem. From West Africa to East Africa, North Africa, South Africa, and Central Africa, Afreximbank has positively impacted its 54 member states, elevating their economies significantly.”
“It was a very innovative payment, which made it extremely easier and facilitated payment within the continent in a way that exchange could take place without using third party currency. I am talking about using the US dollar, Euro and pound sterling. That was a very innovative measure that was introduced by the Afreximbank under Oramah to facilitate exchange within the region. So, there are so many significant milestones that Afreximbank brought to the continent.
“Some of our biggest industrial infrastructure of today benefited tremendously from the support of the Afreximbank not just in Nigeria even across the continent. And something that is also unique is about the capacity of the Afreximbank to give unique support and financial assistance to African investors. This kind of assistance that ordinarily would not have been available from the other multilateral institutions and financial institutions outside the continent. So, unique financial supports tailored to meet specific needs of the African continent were made available through the creation of financial models strategies of the Afreximbank. So, there is a lot to acknowledge. There is also a lot to commend Oramah.”
Former Director General of the Standards Organization of Nigeria (SON), Dr Joseph Odumodu, also expressed delight with Oramah’s performance at the Afreximbank. Odumodu said he first met the outgoing Afreximbank CEO years back when he (Odumodu) was the CEO of May&Baker Plc, a one of the leading pharmaceutical firms in Nigeria. Odumodu said he and other Nigerian CEOs of pharmaceutical firms were in Cairo, Egypt, for a conference and at the end of the day, they decided to retire to a restaurant, where Nigerian dishes and drinks are served. While in the restaurant drinking the Nigerian-brewed Star Larger beer and Guinness, a young man in suit walked in. They started chatting with him and ended up in his house in Cairo. Then he was not the CEO but senior management personnel of the institution. Years later, Oramah became the CEO of Afreximbank.
Odumodu said when Oramah assumed the position of CEO, Afreximbank visibility widened with huge impacts in the various sectors of the African economy. According to Odumodu, under Oramah’s leadership, Afreximbank has evolved into a group entity comprising the bank, its impact fund subsidiary, the Fund for Export Development in Africa, and its insurance management arm, AfrexInsure. The group also includes several strategic subsidiaries and initiatives, such as MANSA, a repository platform for customer due diligence on African entities; the PAPSS; Creative African Nexus (CANEX); the African Medical Centre of Excellence (AMCE); the Intra-African Trade Fair; and the Africa Quality Assurance Centre (AQAC). During his tenure, the Bank’s balance sheet assets have grown from $5 billion in 2015 to $37 billion in 2023.
Odumodu added that Prof Oramah’s leadership grew Afreximbank’s assets by six- fold from about US$6 billion at the end of September 2015, when he assumed office, to US$37.3 billion by December 2023, noting that bank has also diversified its sources of income while achieving impressive global credit ratings and performance metrics.
The Director General of Ebony State Small and Media Enterprises Development Agency (EBSMEDA), Dr Stephen Odo, described Oramah as a true son of the soil whose leadership fundamentally reshaped trade and development across Africa. He noted that under Oramah’s steadfast leadership, Afreximbank has championed pandemic response, industrialisation, the African Free Trade Area, and the continent’s creative economy.
Odo, who is also the former Commissioner for Commerce and Industries in Ebonyi State, said “the Intra- African Trade and the African Continental Free Trade Area initiated under the leadership of Prof Oramah during his ten- year tenure as president and CEO of the African Export -Import Bank, have significantly improved Africa’s trade narrative.”
“His extensive experience and visionary leadership have greatly contributed to the success of Intra-African Trade and implementation of AfCFTA- not only benefiting African but also influencing global trade dynamics. “I sincerely appreciate the remarkable services he has rendered so far.”
Another Nigerian who also acknowledged Oramah’s achievements is Prof. Bartholomew Nnaji ,a former minister and founder of Geometric Power Limited, Nigeria’s first indigenous-owned power development company in 2000, who recently acknowledged the significant role Prof. Oramah played in reviving the Aba Integrated Power Project (IPP) during the plant’s commissioning. Afreximbank championed the IPP’s importance for Nigeria’s industrialization and economic development. The bank’s financial backing was instrumental in completing the project’s infrastructure, commissioning its operations, and resolving past ownership disputes.
Prof Nnaji said “much appreciation goes to Afreximbank and its President, Prof. Benedict Oramah” “Again, it is the capacity to look through a rubble and see gold that I use to describe how Professor Oramah and his team evaluated Aba IPP that was stalled for several years. “The bank has a first-class team that processed our facility. I cannot mention each person for fear of missing any important contributor.”
“Please, just know that Afreximbank and its team are, and will remain very dear in our hearts forever. We like to recognize the professionalism of their Technical Adviser, Tetra Tech for doing an excellent job throughout the due diligence process and continuing.”
During the commissioning of Aba IPP, popularly known as Geometric in Aba on February 26, 2024, Vice President Kashim Shettima, paid glowing tribute to Pof. Oramah, describing him as a selflefless technocrat who has used his positions to lift Africa, economically, adding that his leadership prowess has brought significant progress to the African continent.
“There is one Nigerian that has always stood by the Nigerian nation in all circumstances with no strings attached, who has fiercely identified with the Nigerian project.
“This is about the second time I am meeting him in person, but he has always been in my prayers: Prof. Ben Oramah. Let’s give a standing ovation to this great son of Africa. Ben Oramma, the President of AfriExim Bank, is a quintessential African patriot who has used his platform not for personal aggrandizement but for the advancement of the cause of the black man,” Shettima said.
The outgoing Afrexim Bank President played a major in the realisation of Aba IPP.On Monday, November 15, 2021, Afrexim Bank granted a US$50 million loan to Geometric for operationalisation of Aba IPP. At the facility agreement signing ceremony in Durban, South Africa, Prof. Nnaji, initialled for the company, while Prof. Oramah, signed for the Bank. The loan facility was deployed to supporting the initial capital required to acquire rights to the Aba Ring Fence Area, complete outstanding construction works and at last, commence operations at the power plant.
Commenting on the official launch ceremony, Prof. Oramah said: “Afreximbank is proud to be part of this great milestone achievement in Nigeria. The 141MW Aba IPP underscores what can be achieved when public and private sector stakeholders join forces to impact humanity. As champions of trade and industrialization initiatives in Africa, we believe that it is projects like this embedded IPP that will catalyze trade and economic development in Nigeria and across the region.”
Africa’s richest man, Aliko Dangote, recently stated that the Dangote Refinery would not have been possible without Afreximbank’s support, highlighting its crucial role in financing large-scale industrial projects in Africa. He praised the bank’s contribution to the refinery’s success, noting that the bank’s funding has enhanced energy security and strengthened the balance sheet for supplying high-quality products across Africa and the world. At recent events, Dangote also advocated for an “Africa First” growth strategy and called for more African financial institutions like Afreximbank to support the continent’s industrialisation and transformation.
In August 2025, Afreximbank signed US$1.35 billion financing as Lead Arranger in USD 4 billion syndicated facility to refinance Dangote Refinery construction. Commenting on the signing Aliko Dangote, who is the President/Chief Executive of Dangote Industries Limited, said: “Afreximbank’s contribution to this milestone financing underscores our shared vision to industrialize Africa from within. This refinancing strengthens our balance sheet and accelerates with ease the refinery’s suppy of high-quality refined petroleum products across Africa.The syndicated facility attracted strong participation from leading African and international financial institutions, reflecting enduring confidence in Africa’s industrial potential and Dangote’s vision in transforming Africa”.
It would be recalled that sometime in 2016, Aliko Dangote showered praises on Afreximbank under Oramah, when he said , “I consider Afreximbank a good vehicle for fostering regional integration in Africa, which aligns with our vision and mission for growth and development across the continent.”
This are what Professor Adebayo Simeon Bamire, the Vice-Chancellor of the Obafemi Awolowo University, said about the outgoing Afreximbank CEO: “Professor Oramah’s rise to the presidency of Afreximbank is proof of the intellectual rigor and leadership ethos we instil at OAU. His achievements reflect our university’s enduring legacy and commitment to producing leaders who shape Africa’s destiny, fulfilling the vision of our founders.
“We celebrate him as a fantastic advertisement of Great Ife’s products, inspiring future generations to dream and achieve.” These words resonate deeply, highlighting OAU’s role as a Launchpad for greatness. As OAU hit its 64th anniversary in 2025, it stands prouder than ever, with alumni like Professor Oramah lighting the way. His journey—from the lecture halls of Great Ife to the helm of Afreximbank—is a clarion call to dreamers everywhere: greatness begins with a solid foundation, and OAU provides just that.
“More than a personal victory, Oramah’s story is a beacon of hope for Africa—a promise that with vision, education, and courage, the continent’s future can shine brighter than ever before. In the chronicles of African progress, Professor Okechukwu Benedict Oramah will be etched in golden ink, sourced from the depth of the soil of OAU and stretching across borders to uplift a continent. His legacy, like Great Ife’s, is one of inspiration, proving that the path to prosperity is paved by those bold enough to walk it.”
On July, this year, Wamkele Mene, Secretary General of the ACFTA – South Africa said “Professor Orama’s legacy has been outstanding and a very, very important part of Africa’s history in economic integration. And he played that part. I don’t think it’s, it’s hyperbolic to say that he played a very important part in in the process of economic integration of our continent. Over the last ten years, we’ve seen increased volumes of investment in industrial development and trade, supporting infrastructure building of course, on the 20 years before that. And so I think his legacy speaks for itself. And I personally am very, very grateful as an African, I’m very grateful as an African for his public service to our continent and his dedication to this big vision that all of us share is for the next leadership.”
Mr. Segun Ajayi-Kadir DG-MAN, Professor Benedict Oramah should be commended for an exemplary decade of service as President and Chief Executive of Afreximbank. His decade-long leadership of Afreximbank has been transformative for Africa and its private sector. In particular, he focused on expanding its industrial base and this resonated with the wider objectives of the Manufacturers Association of Nigeria. He championed financing models that went beyond traditional trade support, targeting industrial capacity, value addition, and SME competitiveness. For Nigerian and African manufacturers, Afreximbank’s interventions under his watch provided access to long-term finance, export development programmes, and sector-specific initiatives that directly addressed structural constraints to industrialisation.
By supporting governments and firms during commodity price shocks and the COVID-19 pandemic, he ensured that Africa’s productive capacity was preserved and, in many cases, expanded. He even extended this support to the Caribbeans during the COVID-19 pandemic when the West literally turned their backs.
Equally noteworthy has been Professor Oramah’s unwavering commitment to strengthening Africa’s integration, as it became the indisputable champion of the Africa Continent Free Trade Agreement ( AfCFTA). It led the increasingly successful Intra African Trade Fair, in close partnership with the AU and the AfCFTA Secretariat.
Oramah was keenly interested in advancing the interest and voice of manufacturers at the continental level. Through his support for the Pan-African Manufacturers Association (PAMA), Afreximbank under his leadership, recognised the central role of manufacturers in achieving the goals of the AfCFTA. The Bank’s sponsorship of platforms for policy dialogue, market access, and industrial cooperation created a rare convergence between finance and industry, ensuring that Africa’s manufacturers are not only participants but also beneficiaries of continental integration.
In every sense, Professor Oramah’s tenure exemplified developmental banking at its best, aligning finance with Africa’s industrial development and economic transformationI pay a personal tribute to a great son of Africa, born in Nigeria and gifted to Africa for its long overdue renaissance. He has an amazing knowledge of the abundance of human and material resource in Africa and an uncanny perspective on the pipelines to make them work for Africa with definite impact. He was bold and unapologetic about his commitment to the prosperityof Africa and raising the standard of living of living of its people, including those in the diaspora.
MAN is enthused by his foresight, partnership, and enduring contributions to Africa’s private sector development. I fondly remember when in 2019, he was our Distinguished Guest Speaker at the 47th AGM in Lagos. He told us that the preferences that ACFTA offers can make Nigerian manufactured goods more competitive in many African markets and can also make it possible for integration into regional and global supply chains. This energized our members to refocus on cross-border value chain and pursuit of the African market. We look forward to building on this legacy with Afreximbank’s new leadership to accelerate Africa’s journey towards inclusive industrial growth, diversified exports and unlocking of the full potential of African manufacturing.
According to Ajayi Kadri, Professor Benedict Oramah should be commended for an exemplary decade of service as President and Chief Executive of Afreximbank.
His decade-long leadership of Afreximbank has been transformative for Africa and its private sector. In particular, he focused on expanding its industrial base and this resonated with the wider objectives of the Manufacturers Association of Nigeria. He championed financing models that went beyond traditional trade support, targeting industrial capacity, value addition, and SME competitiveness.
For Nigerian and African manufacturers, Afreximbank’s interventions under his
watch provided access to long-term finance, export development programmes, and sector-specific initiatives that directly addressed structural constraints to industrialisation.
By supporting governments and firms during commodity price shocks and the COVID-19 pandemic, he ensured that Africa’s productive capacity was preserved and, in many cases, expanded. He even extended this support to the Caribbeans during the COVID-19 pandemic when the West literally turned their backs.
Equally noteworthy has been Professor Oramah’s unwavering commitment to strengthening Africa’s integration, as it became the indisputable champion of the Africa Continent Free Trade Agreement ( AfCFTA). It led the increasingly successful Intra African Trade Fair, in close partnership with the AU and the AfCFTA Secretariat.
Oramah was keenly interested in advancing the interest and voice of manufacturers at the continental level. Through his support for the Pan-African Manufacturers Association (PAMA), Afreximbank under his leadership, recognised the central role of manufacturers in achieving the goals of the AfCFTA. The Bank’s sponsorship of platforms for policy dialogue, market access, and industrial cooperation created a rare convergence between finance and industry, ensuring that Africa’s manufacturers are not only participants but also beneficiaries of continental integration.
In every sense, Professor Oramah’s tenure exemplified developmental banking at its best, aligning finance with Africa’s industrial development and economic transformation
I pay a personal tribute to a great son of Africa, born in Nigeria and gifted to Africa for its long overdue renaissance. He has an amazing knowledge of the abundance of human and material resource in Africa and an uncanny perspective on the pipelines to make them work for Africa with definite impact. He was bold and unapologetic about his commitment to the prosperity of Africa and raising the standard of living of living of its people, including those in the diaspora.
MAN is enthused by his foresight, partnership, and enduring contributions to Africa’s private sector development. I fondly remember when in 2019, he was our Distinguished Guest Speaker at the 47th AGM in Lagos. He told us that the preferences that AfCFTA offers can make Nigerian manufactured goods more competitive in many African markets and can also make it possible for integration into regional and global supply chains. This energized our members to refocus on cross-border value chain and pursuit of the African market.
We look forward to building on this legacy with Afreximbank’s new leadership to accelerate Africa’s journey towards inclusive industrial growth, diversified exports and unlocking of the full potential of African manufacturing.
For the Chairman of World Association of Customs, and Comptroller-General of Nigerian Custom Service, Alhaji Basiru Adewale Adeniyi, Professor Benedict Oramah’s unwavering dedication at Afreximbank has inspired hope and progress across Africa. Through his wisdom for financing, infrastructure and Pan-African payment and Settlement System, he has helped turn the dream of true Intra-African Trade into a living reality under AfCFTA. Today,we celebrate not just a leader but a legacy that will continue to shape our continent’s future for generations.
Ken Aigbinode, CEO of Creststream Limited indicated that,”it is imperative that the Intra-African Trade Fair (IATF) transcends its current status to become a robust platform. This platform should not only facilitate continental African collaboration but also actively integrate the commercial objectives of the African diaspora and Global Africa. The primary objective remains the expansion of trade within Global Africa. The potential for such trade expansion hinges on the continued success and growth of platforms like the IATF, which are crucial for boosting intra-African trade. Under the leadership of Professor Oramah, Afreximbank has effectively established the IATF as a key initiative, and its continued success should be actively supported. This is not merely aspirational; the substantial transaction volumes, measured in billions of dollars, already achieved through the IATF, serve as tangible evidence of its impact.
Indeed, HE Prof Oramah has done well, beyond many stakeholders’ trajectories, says Mr Ndu Ughamadu MFR, a lawyer and journalist and former Group Public Affairs Director of NNPC.
For me, he advanced the relatively unknown Afrexim to an International fame. In Nigeria, for example, the awareness he created on the Institution is gargantuan.
“The IATF is not only a positive legacy, it is an intimidating “monument” that should be kept. Many are looking forward to the Algiers’ edition. Legacies make leaders not wealth accumulated”.
A legacy HE Barkindo left behind in OPEC, was this type of project introduced by HE Oramah for Africa. OPEC concluded its this year’s edition a few weeks ago, with Nigeria strongly represented at ministerial and corporate levels in Vienna. Congratulations to HE Prof Oramah. He has done well for himself, family, Nigeria, Africa, International Community and Humanity.
Christian Udechukwu, Commissioner for Industry, Trade and Investment in Anambra State feels that President Oramah has transformed Afrexim Bank into the most sustainably impactful and biggest development finance institution for Africa and the Carribbean continent.
The IATF (the intra-African trade fair ) is the most essential marketplace for the African and countries to deepen their internal trade through the institution of Afreximbank and to merge both markets into one single market worth over US$7 trillion dollars with almost 1.3 billion people leveraging the IATF to engage themselves as well as open up to the world
President Oramah also eased access to finance and strengthened the trade finance structures for all African countries through the Intra-African trade bank and this is integrated into the pan- African Payment Settlement System (PAPSS) which enables trade and payment settlement in real time, within 60 seconds, for different currencies as may be preferred by the parties to the transaction.
President Oramah democratised access to development finance, enabled countries and their enterprises to engage in Africa intra-regional trade whether physically and or virtually, and to settle their trade terms without recourse to any global currency like the euro or dollar. These are financial innovations that were considered impossible to Africa, now made a regular reality by Afrexim Bank under President Oramah.
President Benedict Oramah led Afrexim Bank to open the doors for universal ease of access and shared prosperity for all countries, businesses, and people in Africa through the institution of the IATF.
The IATF has become the catalyst for convening and unlocking the full value potential to make it all possible for the materialisation of the Africa Free Trade Area and to deepen their market integration to happen with accelerated haste.
President Benedict Oramah by his leadership and achievements at Afrexim Bank has become a living legend in Africa. His successors will build in his strengths to enable Afrexim Bank to be more and to do more for all of Africa and the Caribbean.
