FirstBank is set to host the inaugural China-Africa Interbank Association (CAIBA) Forum in Abuja, marking the first time the event will occur outside Beijing. Themed “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialisation, and Economic Diversification,” the forum seeks to deepen financial collaboration and economic partnerships between China and Africa. The platform, established in 2018, includes 16 African banks, the China Development Bank, and other financial institutions working to address funding gaps in industrialization, infrastructure, and poverty alleviation across Africa.
The CEO of FirstBank Group, Olusegun Alebiosu, emphasized the bank’s commitment to fostering China-Africa collaboration, leveraging its 130-year legacy to drive economic growth. The event will also highlight Nigeria’s strategic role as China’s second-largest African trading partner and a key player in economic diversification on the continent. Key speakers, including Nigeria’s Vice President, Kashim Shettima, and the MD of China Development Bank, will explore opportunities to strengthen bilateral trade, which reached $23.9 billion in 2022.
Participants will engage with policymakers, business leaders, and financial experts to discuss infrastructure development, trade expansion, and industrialisation strategies. The forum underscores the significance of partnerships like CAIBA in transforming Africa’s economic landscape while reinforcing China’s role as a crucial trading ally.
