African Export-Import Bank president Prof Benedict Oramah has hinted at the possibility of setting up an office in Kenya’s capital Nairobi.
This was after a meeting with President William Ruto on Thursday, November 17, 2022, at the State House in Nairobi.
“We welcome the plan by the African Export-Import Bank (Afriexim Bank) to set up an office in Nairobi,” Ruto said
Speaking at the State House, Ruto noted that the move will allow the two nations to expand their engagement with the bank in areas such as investments, infrastructure as well as housing.
“This will allow us to expand our engagement with the bank on several investment areas such as infrastructure, housing, the creative industry, and the MSMEs ecosystem,” the President said
Headquartered in Cairo, Egypt, African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.
At the end of 2021, the Bank’s total assets and guarantees stood at about US$25 billion, and its shareholder funds amounted to US$4 billion. Afreximbank disbursed more than US$51 billion between 2016 and 2021.
Afrexim was founded in 1993 and has offices in Kampala, Abidjan, Harare, Abuja, and Yaoundé.
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Prof Oramah served as Assistant Manager (Research) at the Nigerian Export-Import Bank before joining Afreximbank as Chief Analyst in 1994. He also served as Senior Director of Planning and Business Development (2007) and Executive Vice President in charge of Business Development and Corporate Banking (2008). He has been President of Afreximbank since June 2015.
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As Executive Vice President,Prof Oramah supervised the Business Development functions, namely, Trade Finance, Project and Export development finance, Syndications and Specialized Finance (SSF), Corporate Finance, and Advisory Services (CFAS). He also supervised the Research and Knowledge Management Functions of the Bank.
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