News Release: Afreximbank Gears Up For Investiture Of New President, Headquarters Inauguration

Afreximbank Headquarters

The Egyptian capital of Cairo is to host high ranking African government officials, heads of international organizations, members of the diplomatic community, leaders of international financial institutions and the business community as the African Export-Import Bank (Afreximbank) inaugurates its Headquarters building and conducts the investiture of its new president on 20 and 21 September.

Afreximbank announced in Cairo today that Egyptian Prime Minister Ibrahim Mahlab had been invited to perform the inauguration of the Headquarters Building on 20 September during a ceremony at which he would be joined by Daniel Kablan Duncan, the Prime Minister of Cote d’Ivoire, and Chief Olusegun Obasanjo, the former President of Nigeria.

Also expected at the ceremony will be several ministers from Egypt and other African countries, central bank governors from across Africa and a host of other dignitaries from within and outside Africa.

The inauguration will be followed on 21 September by the investiture of Dr. Benedict Oramah as the new President of the Bank, to be performed by Alexander Chikwanda, Minister of Finance of Zambia and Chairman of the General Meeting of Shareholders of the Bank.

Dr. Oramah will take over the running of Afreximbank from Jean-Louis Ekra, who will be stepping down after completing two five-year terms as President. Mr. Ekra first took office in 2005.

Dr. Oramah, currently the Bank’s Executive Vice President in charge of Corporate Banking and Business Development, was appointed the new President at the 22nd Annual Meeting of Shareholders of the Bank in Lusaka on 13 June.

As part of activities to mark the two events, Chief Obasanjo, Dr. Babacar Ndiaye, former President of the African Development Bank, and Christopher Edordu, the pioneer President of Afreximbank, will, on 20 September, participate in a panel discussion on, “The implications of building a global multilateral Exim bank”.

A second panel discussion on 21 September will look at the “Relevance of regional financial institutions”, with Dr. Akinwumi Adesina, President of the African Development Bank; Abdourahmane Cissé, the Ivoirian Minister of Budget; Hisham Ramez, Governor, Central Bank of Egypt; and Dr. Sidi Ould Tah, Managing Director, Arab Bank for Economic Development in Africa, as speakers and Dr. Carlos Lopes, Executive Secretary of the United Nations Economic Commission for Africa, as moderator.

Afreximbank also plans to mount an exhibition of the Bank’s products and services, including archive photographs, historical documents and art works.

The foundation stone for the nine-floor Afreximbank Headquarters Building was laid on 18 December 2003 and construction completed in 2010. Afreximbank began the use of the building on 10 November 2010 but decided to put off the formal inauguration until a convenient date was identified.

Obi Emekekwue

Afreximbank External Communications