African Export-Import Bank, Afreximbank, says Africa must strengthen intra-African trade and industrial capacity to achieve sustainable economic growth and reduce dependence on external markets.
The call comes ahead of the bank’s 33rd Annual Meetings scheduled to hold in Egypt from June 21 to 25, 2026.
Speaking at a media briefing ahead of the meetings, President and Chairman of the Board of Directors of Afreximbank, Dr. George Elombi, said Africa’s next phase of development must be driven by regional trade integration, local value addition and stronger economic cooperation among African countries.
According to him, the continent can no longer rely heavily on raw commodity exports and foreign markets if it hopes to attain economic sovereignty and long-term resilience.
Elombi noted that initiatives such as the African Continental Free Trade Area, AfCFTA and the Pan-African Payment and Settlement System have already laid the foundation for deeper integration across the continent.
He added that Afreximbank is expanding collaboration with African central banks and regional financial institutions to strengthen trade financing, improve liquidity support and boost industrialisation efforts.
The Afreximbank President disclosed that the bank already operates a $5 billion programme with the Central Bank of West African States to support commercial banks and improve access to trade financing within the sub-region.
He also stressed the need for investments in transportation, logistics and energy infrastructure to support manufacturing and regional supply chains.
Governor of the Central Bank of Egypt, Hassan Abdalla, described Afreximbank as one of Africa’s most impactful financial institutions, playing a key role in promoting industrialisation, trade and economic cooperation across the continent.
More than 4,000 delegates, including African presidents, central bank governors, development financiers and business leaders, are expected at the annual meetings in Egypt.
(Editor: Terverr Tyav)
