Afreximbank’s Intra-African Trade Fair generates over $170B in business deals

CAIRO - 25 October  2025: The African Export-Import Bank’s (Afreximbank) Intra-African Trade Fair (IATF) initiative has generated more than $170 billion in business deals since its inception, outgoing Afreximbank President Benedict Oramah said.

Speaking at a farewell and leadership handover ceremony held in Cairo, Oramah said the initiative has attracted more than 180,000 participants from across the continent, offering a platform for governments, investors, and businesses to connect and explore cross-border opportunities.

Oramah noted that the IATF is part of Afreximbank’s broader strategy to deepen trade within Africa and strengthen the implementation of the African Continental Free Trade Area (AfCFTA). To support this goal, he said, the Bank has committed $1 billion to the AfCFTA Adjustment Fund to help African economies adapt to the new trading environment and mitigate short-term disruptions from tariff reductions and policy transitions.

The outgoing President highlighted the bank’s progress over the past decade, during which it has disbursed more than $155 billion in trade and development financing, while maintaining strong financial health and paying out about $1.4 billion in dividends to shareholders between 2015 and 2024.

He added that Afreximbank’s total assets have expanded from $6 billion in 2015 to nearly $44 billion in 2025, reflecting what he described as “a decade of strategic expansion and resilience.”

Among other milestones, Oramah pointed to the Pan-African Payment and Settlement System (PAPSS), supported by a $3 billion clearing facility, which now connects 20 African countries to simplify cross-border payments and reduce reliance on external currencies.

The bank also spearheaded the harmonisation of 500 industrial standards across key sectors, launched the African Collaborative Transit Guarantee Scheme worth $1 billion, and financed strategic infrastructure and industrialisation projects, including industrial parks and the Dangote Refinery.

Reflecting on recent crises, Oramah said Afreximbank mobilised more than $10 billion in emergency support during the COVID-19 pandemic, including $2 billion for vaccine procurement and healthcare resilience.

He expressed gratitude to the bank’s  shareholders, staff, and partners for their contributions and voiced confidence in his successor, George Elombi, who assumes office as the new President of Afreximbank.