“Afreximbank Targets Billions of US Dollars in Abuja”

The African Export-Import Bank (Afreximbank) is targeting “billions of dollars” in funding deals during its 32nd Annual Meetings (AAM2025), slated to be held in Abuja, Nigeria’s capital, from June 25-27, 2025. 

According to Vincent Musumba, Manager, Communications and Events at Afreximbank, the significant billion-dollar trade and investment deals to be facilitated by the bank include Memoranda of Understanding (MoUs) and public-private partnerships.

Musumba highlighted that Afreximbank’s 32nd Annual Meetings (AAM2025) in Abuja are expected to deliver strong economic benefits, both in the short and long term, for relevant stakeholders. “AAM2025 is expected to facilitate significant trade and investment deals, including Memoranda of Understanding (MoUs) and public-private partnerships.

 

The meetings are expected to catalyse billions of dollars in funding over the next 5-10 years for key strategic sectors,” the statement disclosed.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, remarked: “AAM2025 comes at a pivotal time for Africa.

 As the continent confronts global uncertainties, it is doing so with renewed resolve.

 Following the successful 31st edition of AAM held in The Bahamas last year, we are back on the African continent for this year’s meetings, which are about catalysing practical action, building stronger institutions to strengthen trade integration and unlocking the full potential of African innovation. 

We thank H.E. Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, for his support.”

The meetings in Abuja are expected to advance regional dialogue on several priorities, including implementing the African Continental Free Trade Area (AfCFTA), enhancing cross-border payment systems to speed up regional transactions, strengthening Africa-Caribbean (CARICOM) economic ties through expanded trade, tourism, and joint ventures, and ensuring private sector participation in policy reforms. 

AAM2025 will host thousands of participants and media from more than 80 countries.

Nigeria is one of Afreximbank’s major shareholders and has been among the largest beneficiaries of the bank, accounting for about 60% of its $30 billion funding of the energy sector in Africa as of 2024. 

Afreximbank has contributed to Nigeria’s energy and industrial transformation, investing heavily in projects such as the Dangote Refinery and the Port Harcourt Refinery projects.

 These investments are part of a broader strategy to make the Gulf of Guinea a major refining hub, reducing Africa’s dependence on petroleum imports. 

 The bank also supports the establishment of an Africa Energy Bank in Abuja to strengthen the continent’s energy security. 

Furthermore, Afreximbank has supported Nigeria’s fertiliser production, enabling the country to become the continent’s leading producer with an annual output of 7.5 million metric tonnes. 

The bank is also involved in supporting Nigeria’s creative industry through credit facilities, capacity building, and market access initiatives aimed at expanding the country’s cultural exports.

The African Export-Import Bank (Afreximbank) was established in 1993 to promote and finance African trade and development, and it has become a major player in African economic development, providing financing solutions to African countries and businesses.