Afreximbank to hold 30th Anniversary Annual Meetings in Accra
The African Export-Import Bank (Afreximbank) has announced it would hold its 30th Annual Meetings in Accra, Ghana. The event also marks the 30th anniversary of the Pan-African multilateral financial institution.
In a press release copied to Ghana Business News, Afreximbank says the event to be held from June 18 to 21, 2023 will mark the high point of its year-long 30th anniversary celebrations, under the theme “Delivering the Vision. Building Prosperity for Africans”.
It said the Meetings and 30th Anniversary celebrations will bring together on one platform thousands of people, including African and Caribbean leaders and senior government officials, African, Caribbean and other policymakers, corporate leaders, bankers, academia and other thought leaders. The meetings will include the Annual General Meeting of Shareholders and an extensive seminar programme, featuring plenaries and side events, it added.
Afreximbank is mandated to finance and promote intra-and extra-African trade, and for 30 years, it has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa.
Afreximbank backs the African Continental Free Trade Agreement (AfCFTA), and has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA.
Working with the AfCFTA Secretariat and the AU, it says, it is setting up a $10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA.
“At the end of 2022, Afreximbank’s total assets and guarantees stood at over $31 billion, and its shareholder funds amounted to $5.2 billion. The Bank disbursed more than $86 billion between 2016 and 2022. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, ‘the Group’),” it said