Prof. Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank) () has received the 2024 Medal of Glory award presented by the AGOA Civil Society Organization Network in Miami, United States.

Presented during the 25th Annual U.S.-Africa Trade and Investment Conference/Expo (AfriCANDO 2024), the award recognised Prof. Oramah’s ‘immeasurable contributions to Africa’s post COVID-19 recovery, his invaluable efforts in providing financial assistance to procure medical supplies, and his visionary leadership and involvement in the implementation of the African Continental Free Trade Agreement (AfCFTA) – including establishing the Pan African Payment and Settlement System.’

Okechukwu Ihejirika, Acting Chief Operating Officer of Afreximbank’s Caribbean Office represented Prof. Oramah at the event. Mr. Ihejirika told guests at the award ceremony that the recognition highlighted the important results which the private sector and governments could achieve by working together for the common benefit of ordinary people and highlighted the continued integration of Africa and CARICOM.

Thanking the Foundation of Democracy in Africa (FDA) and the AGOA Civil Society Network for the award, Mr. Ihejirika said that the accomplishment could be attributed to the “unwavering commitment by my colleagues at Afreximbank and our partners to the advancement of Global Africa”.

Earlier, Mr. Ihejirika participated in the opening session of the conference where he spoke on infrastructure financing to empower small and medium-scale enterprises (SMEs). He used the opportunity to showcase Afreximbank products, services, initiatives and digital solutions and to highlight the Bank’s SME Development Programme.

The Medal of Glory award, presented annually during the AfrICANDO Awards Gala Dinner, recognises exemplary leaders for important contributions to advancing democracy, good governance, human rights and economic, social and cultural development in Africa. Past recipients include Dr. Akinwumi Adesina, President of the African Development Bank Group; Dr. Amadou Mahtar M’Bow, sixth Director General of the United Nations Educational, Scientific and Cultural Organization; and Olusegun Obasanjo, Former President of Nigeria.

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Vincent Musumba
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank's total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.

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