Afreximbank Disburses $18.7bn to Bolster African Trade and Development
The African Export-Import Bank (Afreximbank) has disbursed $18.7 billion in 2023 to support trade, industrialization, and business development across Africa. According to Dr. Yemi Kale, Chief Group Economist at Afreximbank, the bank’s interventions are pivotal in shaping Africa’s economic trajectory and enabling intra-African commerce.
Presenting the 2025 Africa Trade Report at the bank’s 32nd Annual General Meeting (AGM) in Abuja, Kale noted that Afreximbank is not just financing trade but helping to build a modern trade ecosystem that supports long-term economic stability and prosperity. The report highlights the need for Africa to transition from mere resilience to renewal, identifying three essential financial pillars for realizing the goals of the African Continental Free Trade Area (AfCFTA): scaling African-owned development banks, establishing interoperable cross-border payment systems, and projecting a unified African voice in global financial forums.
Vice President Kashim Shettima reaffirmed Nigeria’s commitment to deepening collaboration with Afreximbank, calling for greater support for digital platforms like the Pan-African Payment and Settlement System (PAPSS) and the MANSA repository. These tools can significantly reduce trade costs and promote intra-African commerce. Shettima emphasized that the AfCFTA should serve as the anchor for regional value chains, backed by robust industrial policies that scale across the continent.
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso praised Afreximbank for its timely interventions in moments of crisis, including during COVID-19 and global commodity shocks. He described the bank as a stabilizing force for the continent and warned that Africa must navigate rising global protectionism, economic fragmentation, and geopolitical uncertainty with renewed focus and coordination.
The 2025 Trade Report describes Africa’s economy as resilient, despite global economic headwinds, but stresses that sustainable growth will depend on policy harmonization, investment coordination, and targeted industrial policies. Infrastructure investments, if aligned with AfCFTA’s goals, could stimulate value chains and reduce dependency on external markets.
Denys Denya, Afreximbank’s Senior Executive Vice President, called on governments to strengthen financial institutions and pursue diversification, value-added exports, and strategic alliances. He emphasized that the success of African institutions requires not just reforms but political will, and that protecting and strengthening these institutions is crucial for inclusive growth.
The 32nd Afreximbank AGM has drawn policymakers, private sector leaders, multilateral institutions, and development experts from across the continent and beyond. Sessions have focused on bridging trade financing gaps, accelerating trade integration, and leveraging innovation to enhance Africa’s global competitiveness. The annual Africa Trade Report remains a key resource in shaping policy and investment decisions, providing insights into the region’s evolving trade dynamics in an increasingly complex global landscape.#Afreximbank Disburses $18.7bn to Bolster African Trade and Development#
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