By Seth KRAMPAH, Abuja
As the 32nd Annual Meetings of Afreximbank continue in Abuja, panelists and delegates alike are showering praise on the bank’s President and Chairman, Professor Benedict Oramah, for his transformative leadership and enduring contributions to Africa’s trade and development landscape.
The accolades come amid growing recognition of his decade-long tenure, which has redefined the role of development finance on the continent.
Since assuming office in 2015, Prof. Oramah has overseen a dramatic expansion of Afreximbank’s balance sheet, with assets growing from $4 billion to over $40 billion. Under his stewardship, the bank has disbursed more than $20 billion in trade finance facilities, catalyzing intra-African trade and supporting the implementation of the African Continental Free Trade Area (AfCFTA).
One of his most celebrated achievements is the establishment of the Pan-African Payment and Settlement System (PAPSS), a revolutionary platform that enables real-time, cross-border payments in local currencies. This innovation has significantly reduced transaction costs and foreign exchange dependencies, making trade more accessible for small and medium-sized enterprises across Africa.
Prof. Oramah also spearheaded the creation of the AfCFTA Adjustment Fund, designed to cushion African economies during the transition to a liberalized trade regime. Managed through the Fund for Export Development in Africa (FEDA), the initiative has provided critical support to industries and governments adapting to the new trade environment.
In the energy sector, his leadership has been equally impactful. Afreximbank, under his guidance, has mobilized over $70 billion to support Africa’s energy infrastructure, including $5 billion for refinery projects in Nigeria, Angola, and Senegal. These investments are helping to reduce Africa’s reliance on imported refined products and conserve foreign exchange.
A landmark moment came in June 2024 with the signing of the Establishment Agreement for the Africa Energy Bank, a joint initiative with the African Petroleum Producers Organization. This institution is set to finance Africa’s energy transition while aligning with sustainability goals, further cementing Prof. Oramah’s legacy as a visionary in development finance.
Beyond finance, Prof. Oramah has championed the creative and cultural industries, launching initiatives to support African fashion, film, and music. These efforts have not only created jobs but also amplified Africa’s soft power on the global stage.
His leadership has earned him numerous accolades, including the prestigious Mohammed S. Barkindo Lifetime Achievement Award in 2024, recognizing his contributions to Africa’s energy and economic development. The award, named after the late OPEC Secretary-General, is one of the highest honors in the African energy sector.
At AAM2025, speakers from across the continent have described Prof. Oramah as a “trailblazer,” “visionary,” and “champion of African solutions.” His ability to blend bold ideas with practical execution has made Afreximbank a cornerstone of Africa’s economic architecture.
As the bank prepares for a potential leadership transition, the legacy of Prof. Benedict Oramah stands as a testament to what is possible when ambition meets action. His tenure has not only reshaped Afreximbank but has also redefined Africa’s place in the global trade ecosystem.
