Afreximbank honours Alhaji Yusif Ibrahim for pioneering role
Alhaji Yusif Ibrahim, former Chairman of GT Bank and Executive Chairman of Dara Salam Group, has been honoured by the newly appointed President of Afreximbank, Dr George Elombi, for his pioneering role in the establishment of the Africa Export-Import Bank.
As one of the bank’s founding shareholders and early investors, his steadfast support and contributions since its inception were duly acknowledged at a ceremony.
Alhaji Ibrahim, an entrepreneur and philanthropist, was born in Kumasi, Ashanti Region, where the majority of his businesses are located.
At the ceremony, the former President of the bank, Prof. B. O. Oramah, handed the mantle over to Dr George Elombi as the fourth President of the bank.
Event
The event, which was held in Cairo, Egypt, was attended by some distinguished personalities, including Africa’s richest man, Alhaji Aliko Dangote, who received a multi-billion-dollar loan facility from the bank during the occasion.
Formalised with an oath administered by Wale Edun, Chairman of the Annual General Meeting of Shareholders of the Bank and Minister of Finance and Coordinating Minister of the Economy of Nigeria, Dr Elombi’s investiture ceremony was witnessed by over 2,000 guests, including heads of state, former heads of state, government leaders and representatives from across Africa and the Caribbean.
It was also attended by top African business leaders, all former Afreximbank Presidents, members of the bank’s Board of Directors, shareholders, serving and former staff members, friends and family of Dr Elombi, and a host of other dignitaries.
In an inaugural address following the swearing in, Dr Elombi announced his unwavering commitment to carry forward the legacy of the bank’s past, to deepen impact, strengthen partnerships, and to continue the mission of building an Africa that traded with itself and thrived on its own terms.
He pointed out that the structure of global trade was disfavourable to Africa, and, therefore, had to change, explaining that it was too dependent on the export of commodities.
“Our mission is, therefore, to transform the structure of that trade. To change the structure, we must process.
We must produce. Unless we produce, we cannot trade,” he said.
Dr Elombi announced that over the next five to 10 years, he would prioritise sectors he believed would have the most significant and sustained impact on Africa’s trade and wellbeing, including promoting and accelerating value addition and strategic minerals processing to curb the export of raw potential.
