Accra hosts Afrexim Bank Annual Meetings - Ofori-Atta welcomes delegates to milestone confab
The African Export-Import (Afrexim) Bank will hold its Annual Meetings in Accra, beginning tomorrow (June 18).
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The five-day event is to foster discussions on trade and economic development and strengthen the relationship between the Afrexim Bank and its member countries.
The Annual Meetings are expected to bring together about 4,000 prominent leaders, policymakers, and stakeholders from across Africa and beyond.
President Nana Addo Dankwa Akufo-Addo is expected to deliver a keynote address on Monday, at the conference which will also be attended by an array of personalities including Heads of State and Government, heads of regional bodies, ministers of state, eminent African leaders, business people and academics.
Context
The bank, established in 1993, has played a pivotal role in promoting intra-African trade and supporting economic growth on the continent.
Over the years, it has evolved into a leading financial institution, facilitating trade and providing financial solutions to African businesses.
The bank exists to promote and finance the diversification and development of African trade, particularly by enhancing the export capabilities of African countries.
Welcome
Ahead of the meeting, the Minister of Finance, Ken Ofori-Atta, has welcomed delegates who have begun arriving in the country for the meeting which also marks a significant milestone for the bank
“I am pleased to welcome Afrexim shareholders and other stakeholders to Accra, Ghana, and to this year’s milestone event, marking the 30th anniversary of the Bank,” the Finance Minister said in an interview with the Daily Graphic.
He emphasised the importance of the annual meetings of Afrexim Bank in anchoring the work that the bank did within the shareholder committee.
"The Afrexim Bank Annual Meetings provide an invaluable platform for African countries to collaborate, exchange ideas, and explore opportunities for sustainable economic growth," the Finance Minister said.
"We are honoured to welcome esteemed delegates from across the continent and beyond to Accra, and we look forward to fruitful discussions that will shape Africa's economic future,” Mr Ofori-Atta stated.
AFREXIM and Ghana
The Finance Minister said the relationship between Afrexim Bank and Ghana had been strong and mutually beneficial.
Citing the 2022 financial year when Ghana faced significant economic challenges, he pointed out that Afrexim Bank extended a crucial $750 million loan to the country, helping alleviate its financial constraints.
“This loan was a critical lifeline that proved instrumental in helping to stabilise the Ghanaian economy, while negotiations continued with the IMF, for the $3 billion Extended Credit Facility, which was approved on May 17th 2023,” he added.
“For this significant gesture of faith and solidarity, we are especially grateful to the Afrexim Bank,” Mr Ofori-Atta stated.
Expectations
When asked about his expectations going into the meetings, the Finance Minister expressed his optimism, “We anticipate that these meetings will produce concrete strategies and initiatives that will accelerate Africa's economic transformation, boost intra-African trade, and create a conducive environment for business growth and investment," he stated.
The meetings will also provide a platform for African entrepreneurs and businesses to showcase their products and services during the Afrexim Bank Trade Fair, which is expected to foster networking opportunities and potential partnerships.
This exhibition aims to promote African trade and investment by highlighting the continent's diverse industries and the potential for growth and collaboration.
Programme
The annual meetings will feature a series of seminars, workshops, and panel discussions, focusing on critical topics such as trade facilitation, industrialisation, infrastructure development, and financing solutions for African businesses.
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Prominent figures from the public and private sectors, including heads of state, finance ministers, business leaders, and international organisations, are expected to be in attendance.
Among the notable events planned is a high-level panel discussion on leveraging technology for trade finance, which will explore innovative solutions to enhance efficiency and inclusivity in African trade.
Also, there will be sessions dedicated to sustainable development, with a particular emphasis on climate change and green financing.