Egypt’s President Abdel Fattah Al-Sisi received on Sunday Benedict Oramah, President of the African Export-Import Bank (Afreximbank), whose term concludes in October 2025, alongside George Elombi, the bank’s President-elect, who will serve until 2030. The meeting was attended by Hassan Abdalla, Governor of the Central Bank of Egypt (CBE).
Presidential Spokesperson Mohamed El-Shennawy said President Al-Sisi congratulated Elombi on his election as the next president of Afreximbank—headquartered in Cairo—and commended Dr Oramah for his decade-long leadership. He highlighted the bank’s pivotal role in expanding intra-African trade and boosting the continent’s share of global commerce.
Elombi presented his vision for strengthening the bank’s role in supporting industrialisation, trade finance, and economic growth across Africa. Oramah reviewed the bank’s key achievements during his tenure, including its contribution to the launch of the African Continental Free Trade Area (AfCFTA). Both expressed gratitude for Egypt’s continuous support, underscoring the country’s central role in Afreximbank’s success.
President Al-Sisi reaffirmed the bank’s strategic importance in helping African nations overcome structural barriers to industrialisation, develop export capacity, and fully capitalise on the AfCFTA. He stressed that such efforts are vital for achieving the goals of Africa’s Agenda 2063 and the UN 2030 Sustainable Development Agenda.
Bank officials outlined ongoing initiatives to enhance intra-African trade, facilitate industrial development, and expand access to trade finance. They also discussed potential opportunities to increase the bank’s involvement in Egypt’s major development projects.
The president emphasised Egypt’s commitment to comprehensive national development and its prioritisation of export growth, particularly towards African markets. He noted the government’s focus on localising industry, attracting foreign direct investment, and leveraging Egypt’s economic potential.
CBE Governor Hassan Abdalla reaffirmed the Central Bank’s strong support for Afreximbank and its strategic partnership with Egypt. He noted that the CBE is the bank’s largest shareholder, alongside five major Egyptian commercial banks that also hold stakes.
Afreximbank representatives welcomed further exploration of new cooperation opportunities with Egypt and praised the country’s robust economic growth, rising exports, and success in attracting investment—achievements supported by extensive infrastructure development in recent years.
The meeting concluded with a shared commitment to deepening Egypt–Afreximbank collaboration to accelerate Africa’s industrial transformation, boost trade flows, and expand the bank’s contribution to development projects both in Egypt and across the continent.
