Osinbajo hails Oramah’s revolutionary leadership at Afreximbank as catalyst for intra-African trade, innovation

Prof. Yemi Osinbajo, SAN, and Afreximbank President Benedict Oramah, at the African Export-Import Bank (Afreximbank) yearly general meeting in Nassau, Bahamas

By Marvellous Nyang

June 16, 2024

Nigeria’s former Vice President, Prof. Yemi Osinbajo, SAN, has praised Afreximbank President Benedict Oramah for his transformative leadership, speaking at the African Export-Import Bank (Afreximbank) yearly general meeting in Nassau, Bahamas.

“President Benedict Oramah has, with remarkable success, boldly and imaginatively revolutionised the thought processes, ambitions, and roles that an African supranational MFI must play in a complex and uncertain geopolitical environment,” Osinbajo stated.

He said “In the past few years under his leadership, AFREXIM has catalysed intra-African trade, propelling the AFCTFA, creating critical trade facilitation tools like the Pan-African Payment and Settlement System (PAPSS), and recently introducing MANSA – Africa’s Digital Due Diligence Repository.”

Prof. Osinbajo, concluded his commendation with a positive outlook, noting, “We are indeed witnessing the golden years of the bank.”

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Easier addressing issues at a session on “Navigating Economic Transformation in a Polycrisis world: Strategies for Global Africa,” Prof. Osinbajo, who also serves as the Global Advisor of the Global Energy Alliance for People and Planet (GEAPP), highlighted Africa’s commitment to long-term partnerships that serve the continent’s best interests.

“Africa’s only permanent friends are those who consistently support our interests,” Osinbajo stressed, emphasising the importance of self-reliance and local support.

He further underscored the private sector’s role in economic growth, citing the Dangote project as a testament to its ability to attract capital for investment.

The Dangote project, which includes a 650,000 barrels per day refinery, demonstrates the private sector’s capacity to mobilise inexpensive capital.

Prof. Osinbajo’s remarks underscored the critical need for innovative leadership and robust private sector involvement in addressing Africa’s economic challenges and harnessing its vast potential.