The African Export-Import Bank (Afreximbank) disbursed $18.7 billion in 2023 to support trade, industrialisation, and business development across the continent, underscoring its central role in shaping Africa’s economic future. The bank’s Chief Group Economist, Dr. Yemi Kale, announced the figure during the presentation of the 2025 Africa Trade Report at the bank’s 32nd Annual General Meeting in Abuja.
Dr. Kale noted that Afreximbank’s funding strategy is critical to transforming Africa’s economic structure. The bank’s interventions aim to catalyse intra-African trade and strengthen the foundations of regional enterprise, aligning with the goals of the African Continental Free Trade Area (AfCFTA).
Nigeria, reaffirming its regional leadership ambitions, pledged stronger collaboration with Afreximbank to build resilient institutions and deepen continental integration. Representing Vice President Kashim Shettima at the event, the Special Adviser to the President on Economic Affairs emphasised the need for African economies to shift from resilience to renewal. He stressed the importance of mobilising blended finance to unlock private capital for infrastructure and green energy projects.
The Central Bank Governor, Olayemi Cardoso, also commended Afreximbank for its timely interventions during critical economic periods, including its trade finance facility and public health financing support during the pandemic. However, he cautioned that rising global protectionism, economic fragmentation, and geopolitical tensions pose real threats to Africa’s development trajectory.
According to the 2025 Trade Report, Africa’s economy continues to demonstrate resilience despite persistent global uncertainties. The report calls for a renewed focus on intra-African trade through AfCFTA to ensure long-term competitiveness. It highlighted three key financial pillars to unlock the trade agreement’s full potential: scaling up African-owned development banks and sovereign investment funds, building interoperable low-cost cross-border payment systems, and advocating with a unified African voice on global financial platforms backed by robust data.
With these strategies in place, the report argues that Africa could transform global volatility into opportunities for inclusive, sustained growth. It added that infrastructure investments aligned with AfCFTA’s goals could drive regional value chains, reduce dependence on external trade partners, and stimulate local production.
The report also called for policy harmonisation, coordinated investments, and targeted industrial policies to build regional supply networks and foster manufacturing. These steps, it said, would help African economies achieve economies of scale, diversify exports, and climb global trade rankings.
Afreximbank’s Senior Executive, Denya, echoed the call for deeper regional collaboration, stressing that improving intra-African trade and forming strategic alliances would open new markets, boost competitiveness, and spark innovation. He reaffirmed the bank’s commitment to supporting member states, recalling its interventions during the COVID-19 pandemic, commodity shocks, and the impact of the Ukraine war.
The ongoing AGM in Abuja has brought together policymakers, multilateral institutions, private sector leaders, and development finance experts to chart a course for Africa’s trade and economic future. Key topics include closing trade financing gaps, accelerating regional trade integration, and using innovation to expand Africa’s global trade presence.
The presentation of the Africa Trade Report forms part of Afreximbank’s agenda to guide policymaking, inform investment strategies, and enhance understanding of Africa’s evolving trade dynamics in a rapidly shifting global economy.
