The African Export-Import Bank (Afreximbank) disbursed a total of $18.7 billion in 2024 to support trade, industrialisation, and enterprise development across the continent. This was disclosed by the bank’s Chief Group Economist, Dr. Yemi Kale, during the presentation of the 2025 Africa Trade Report at the ongoing 32nd Annual General Meeting (AGM) of the bank in Abuja.
“This figure reflects our commitment to not just financing trade, but building the foundation of a modern, resilient African economy,” Dr. Kale said.
He described Afreximbank’s financial interventions as crucial to transforming intra-African trade, noting that the bank’s strategy is designed to deliver long-term structural benefits rather than short-term relief.
Nigeria’s Vice President, Kashim Shettima, represented by the Special Adviser to the President on Economic Affairs, Dr. Tope Fasua, pledged Nigeria’s readiness to partner with the bank. “We are prepared to lead and collaborate with Afreximbank to build resilient institutions and advance Africa’s development priorities,” Fasua stated.
He added that Africa must transition “from resilience to renewal,” calling for increased mobilisation of blended finance to attract private capital for infrastructure, green energy, and digital trade expansion.
Also speaking at the event, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso praised Afreximbank for its timely interventions. He cited the bank’s counter-cyclical trade finance facility and its role in Africa’s COVID-19 response as examples.
“Afreximbank has been a stabilising force,” Cardoso said. “Its contributions during the pandemic and other macroeconomic shocks underscore the importance of African-led financial institutions.”
Cardoso warned, however, that growing global protectionism and economic fragmentation pose serious risks. “We must build resilient institutions equipped to withstand these shocks through long-term thinking and transparent governance,” he said.
The 2025 Africa Trade Report highlighted that the continent’s economic resilience in the face of global uncertainty is anchored in the success of the African Continental Free Trade Area (AfCFTA). It identified three financial pillars crucial for unlocking AfCFTA’s full potential: strengthening African development banks and sovereign investment funds, creating low-cost cross-border payment systems, and establishing a unified African voice backed by robust data.
“The evolving global and regional financial landscape presents both opportunities and challenges,” the report stated. “While volatility and reoriented investment flows pose risks, regional integration and structural reforms offer counterbalance.”
It added that infrastructure investments aligned with AfCFTA goals could significantly reduce Africa’s dependence on external trade partners, stimulate industrial upgrading, and drive intra-African value chains.
Vice President Shettima called for the “institutionalisation of digital trade platforms like the Pan-African Payment and Settlement System (PAPSS) and the MANSA repository,” stressing that doing so would reduce trade costs and promote efficiency across borders. He also emphasised that “strengthening Afreximbank with more capital and improved risk-sharing mechanisms is key to inclusive transformation.”
Cardoso further urged African countries to collaborate on green growth, digital connectivity, food and energy security, and private sector innovation. “This is the pathway to sustainable development and economic sovereignty,” he said.
Denys Denya, Senior Executive Vice President of Afreximbank, noted that Africa is “at a critical turning point,” calling for stronger political will to back African-led institutions. “We must go beyond macroeconomic management and focus on industrialisation, value-added exports, and diversification of trade partners,” he said.
Denya affirmed the bank’s commitment to regional development, stating: “Whether it was the commodity downturn, COVID-19, or Ukraine-related disruptions, Afreximbank has always stepped in. We will continue to stand by African economies.”
The ongoing 32nd AGM in Abuja has drawn policymakers, multilateral bodies, and financial experts from across the continent and beyond. Discussions have focused on reducing trade financing gaps, leveraging innovation, and strengthening Africa’s global trade position. The release of the 2025 Africa Trade Report forms a core part of the bank’s mission to guide investment decisions and deepen understanding of African trade dynamics.
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