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AFREXIMBANK 30TH AGM to Provide Platform for African Solutions to African Problems—Hon. Dr. Mohammed Amin Adam Assures

AFREXIMBANK 30TH AGM to Provide Platform for African Solutions to African Problems—Hon. Dr. Mohammed Amin Adam Assures

Accra, 19th May, 2023 - The Minister of State at the Ministry of Finance, Dr. Mohammed Amin Adam has indicated that, the 30th Annual General Meeting of the African Export and Import Bank (Afreximbank) to be hosted by Ghana, would provide the platform for participants to deliberate solutions to financial issues confronting the continent.

“We are privileged to have the opportunity to host this event and look forward to providing a platform where we can deliberate and seek African solutions to African problems. I therefore urge all players in the financial sector to register and participate in this event” he said.

The Member of Parliament for Karaga made this known when he addressed the media at the press launch of the Afreximbank’s 30th Annual General Meeting to be held from 18th to 22nd June 2023.

Present at the event were the President and Executive Director the Board of the Afreximbank, Prof. Benedict Oramah, the Governor of the Bank of Ghana, Dr. Ernest Addison, the Deputy Minister of Information, Hon. Fatimatu Abubakar, officials of Ministry of Finance, Bank of Ghana, and the media.

The Afreximbank was established in Abuja, Nigeria in October, 1993 by African Governments, African private and institutional investors, as well as non-African financial institutions and private investors for the purpose of financing, promoting, and expanding intra-African and extra-African trade.

The 30th Anniversary celebration will be the First Gathering of Global Africa, where the African participating states will welcome the new participating states from the Caribbean. It is a gathering of Africans from all walks of life, with stakeholders traversing Africa, the Caribbean, Europe, Latin America, and Asia.

Expected to attend the three-day event are African leaders, senior government officials from within and outside Africa, including Ministers, Central Bank Governors, CEOs of major banks, non-bank private/public sector institutions and NGOs.

Touching on Ghana’s eagerness to host the event, the Minister said, “As the privileged host of the AfCFTA Secretariat, and a Class ‘A’ shareholder of this Bank, we are also happy to be hosting the 30th Anniversary of Afreximbank in 2023, the year the African Union has declared as the “Year of AfCFTA: Acceleration of the African Continental Free Trade Area Implementation”.

According to the Minister of State, the theme for the General Meetings was "Delivering the Vision. Building Prosperity for Africans " would highlight the need for the continent to recommit itself to the vision of its forebears and creating the needed wealth for all Africans.

He commended the Bank that has grown its assets from initial US$5billion to US$27.7 billion as at September 2022 and a net loans portfolio of US$20 billion – US$23 billion and appreciated the institution’s financial commitment to Ghana and the continent at large.

“Through our enduring partnership, Ghana has undertaken significant projects in the health, transportation, Energy, finance and; of course, trade financing. Key private financial institutions have also experienced the power of Afreximbank in expanding their operations. Clearly, Ghanaians have a cause to take pride in and promote this enduring partnership”.

Prof Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank in his address noted that, the theme of the AGM was premised on the Bank’s thematic areas over the last three decades which were; the promotion of economic integration in Africa through support for intra-African trade and investment and the diversification of sources of growth and exports for inclusive growth and shared prosperity.

He commended the President and the Officials of the country for their preparedness to host the event and added that, “Indeed, having hosted the Annual Meeting of the AfDB only last year and other Pan-African institutions in prior years, Ghana has established itself as a key destination for Pan-African events”.

“It is our expectation that more than 3000 participants will converge here in Accra to celebrate this historic milestone with Afreximbank and the people of Ghana” the President of the Bank revealed.

Questions relating to Afreximbank, its support to the Ghanaian economy and the IMF engagements were asked by the Ghanaian Journalists and their colleagues from across the Continent who participated virtually in pre-launch of the event. END