Afreximbank Disburses $18.7 Billion to Boost African Trade and Integration
The African Export-Import Bank (Afreximbank) announced that it disbursed $18.7 billion in 2023 to support trade, industrialization, and business growth across Africa. This was revealed by the bank’s Chief Economist, Dr. Yemi Kale, during the presentation of the 2025 Africa Trade Report at the 32nd Annual General Meeting in Abuja. He emphasized that the bank’s interventions are central to transforming the continent’s trade architecture and supporting intra-African commerce, especially in alignment with the African Continental Free Trade Area (AfCFTA).
Nigeria has pledged strong support for Afreximbank’s initiatives, reaffirming its commitment to regional integration and development. Vice President Kashim Shettima, represented by Dr. Tope Fasua, stressed the need to transition from resilience to renewal through increased blended finance for infrastructure and green energy. Central Bank of Nigeria Governor Olayemi Cardoso praised Afreximbank’s timely financial support during past crises and highlighted the need for cooperation amid rising global protectionism and economic uncertainty.
The 2025 Trade Report outlines three essential pillars for unlocking AfCFTA’s potential: scaling African-owned financial institutions, creating interoperable cross-border payment systems, and presenting a unified African voice in global forums. The report advocates for strategically aligned infrastructure investments and cohesive industrial policies to drive intra-African value chains and reduce dependence on external partners. With the right strategies, Africa could turn global economic volatility into a platform for inclusive growth.
Dr. Kale reiterated Afreximbank’s mission to not only provide funding but also build a modern African trade ecosystem. VP Shettima called for digital platforms like PAPSS and MANSA to be institutionalized to cut trade costs and encourage local trade. Strengthening governance structures and financing institutions such as Afreximbank is deemed critical to achieving inclusive growth that benefits women, youth, and SMEs.
The AGM gathered key stakeholders across Africa to explore ways to close trade finance gaps and advance integration. Afreximbank’s leadership emphasized the importance of good governance, regional cooperation, and industrialization. Senior Executive VP Denys Denya called this a turning point for Africa, urging governments to support institutional growth and trade diversification. Discussions also highlighted innovation, private sector partnerships, and sustainable development as key pillars for Africa’s future.
Source: The nation