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African Export–Import Bank
African Export–Import Bank, also referred to as Afreximbank or Banque Africaine d’Import-Export, is a pan-African supranational multilateral financial institution created in 1993 under the auspices of the African Development Bank. It was officially launched at the first general meeting of the shareholders in Abuja, Nigeria, in October 1993. It is headquartered in Cairo, Egypt.
Afreximbank is a financial provider to African governments and private businesses in support of intra-African and Caribbean trade.
Afreximbank, established in 1993, serves as Africa's Export-Import Bank, dedicated to promoting and financing intra- and extra-African trade. The Bank’s foundation was formalized during its constituent general assembly on May 8, 1993, held at the African Development Bank (AfDB) headquarters in Abidjan. Participating states signed the Agreement establishing the Bank, while those wishing to become shareholders endorsed the Bank’s Charter.
The Agreement grants Afreximbank the status of an international organization with full juridical personality under the laws of its participating states. It also provides the Bank with specific immunities, exemptions, privileges, and concessions within these territories to facilitate its operations.
In October 1993, Afreximbank was officially launched during its inaugural General Meeting of Shareholders in Abuja, where Mr. Christopher Edordu was appointed its first President. Operations commenced in 1994, marked by the Bank's participation in a $150 million syndicated loan to Ghana’s Cocoa Board, contributing $6.5 million to the transaction.
Since inception, Afreximbank has championed the process of economic integration in Africa by directly financing the growth of intra-African trade, investing in trade facilitation, expanding trade-enabling infrastructure, and developing technological ecosystems to dismantle long-standing barriers to intra-African trade and investments.
By the end of 2024, Afreximbank's total assets and guarantees reached $40.1 billion, with shareholder funds amounting to $7.2 billion. Between 2016 and 2022, the Bank disbursed over $86 billion to support African economies. In addition, from 2020 to 2022, it provided approximately $50 billion on a revolving basis to help African nations manage the economic impact of the COVID-19 pandemic and the Ukraine crisis, and drive economic recovery across the continent.
The Afreximbank charter was adopted in Abuja, Nigeria, in October 1993, and its provisions regulate the bank as a corporate body.
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African Export–Import Bank
African Export–Import Bank, also referred to as Afreximbank or Banque Africaine d’Import-Export, is a pan-African supranational multilateral financial institution created in 1993 under the auspices of the African Development Bank. It was officially launched at the first general meeting of the shareholders in Abuja, Nigeria, in October 1993. It is headquartered in Cairo, Egypt.
Afreximbank is a financial provider to African governments and private businesses in support of intra-African and Caribbean trade.
Afreximbank, established in 1993, serves as Africa's Export-Import Bank, dedicated to promoting and financing intra- and extra-African trade. The Bank’s foundation was formalized during its constituent general assembly on May 8, 1993, held at the African Development Bank (AfDB) headquarters in Abidjan. Participating states signed the Agreement establishing the Bank, while those wishing to become shareholders endorsed the Bank’s Charter.
The Agreement grants Afreximbank the status of an international organization with full juridical personality under the laws of its participating states. It also provides the Bank with specific immunities, exemptions, privileges, and concessions within these territories to facilitate its operations.
In October 1993, Afreximbank was officially launched during its inaugural General Meeting of Shareholders in Abuja, where Mr. Christopher Edordu was appointed its first President. Operations commenced in 1994, marked by the Bank's participation in a $150 million syndicated loan to Ghana’s Cocoa Board, contributing $6.5 million to the transaction.
Since inception, Afreximbank has championed the process of economic integration in Africa by directly financing the growth of intra-African trade, investing in trade facilitation, expanding trade-enabling infrastructure, and developing technological ecosystems to dismantle long-standing barriers to intra-African trade and investments.
By the end of 2024, Afreximbank's total assets and guarantees reached $40.1 billion, with shareholder funds amounting to $7.2 billion. Between 2016 and 2022, the Bank disbursed over $86 billion to support African economies. In addition, from 2020 to 2022, it provided approximately $50 billion on a revolving basis to help African nations manage the economic impact of the COVID-19 pandemic and the Ukraine crisis, and drive economic recovery across the continent.
The Afreximbank charter was adopted in Abuja, Nigeria, in October 1993, and its provisions regulate the bank as a corporate body.