African Export–Import Bank

African Export–Import Bank
Private company
Founded 1993
Headquarters 72B, El Maahad El-Eshteraky Street, Heliopolis, Cairo, Egypt.
Key people
 Benedict Okey Oramah (CEO and President)
Amr Kamel (Executive Vice President)[1]
Denys Denya (Vice President)
Georges Elombi (Vice President)
Products International Trade and Development Finance
Revenue Increase Net US$20.5 million (2013)
Total assets US$4.4+ billion (2013)
Owner African Governments
African Businesses
Non-African Financial Institutions
African & Non-African Individuals
Website www.afreximbank.com

African Export–Import Bank, also referred to as Afreximbank, is an African financial institution, headquartered in Cairo, Egypt, whose primary objective is to promote and finance trade within the African continent and trade between Africa and other continents.

Location

The headquarters of Afreximbank is located at 72 (B) El Maahad El Eshteraky Street, Heliopolis, Cairo, the capital and largest city in Egypt. The bank maintains a second branch at 2 Gnassingbe Eyadema Street, Asokoro, Abuja, the capital city of Nigeria. The bank's third branch is located at Eastgate Building, Third Floor, North Wing, Gold Bridge, Harare, the capital and largest city in Zimbabwe.[2]

As of July 2018, Afreximbank also maintains regional offices in Abidjan, in the Ivory Coast and in Tunis, Tunisia.[3] In the same month, The EastAfrican reported that the bank opened discussions with the government of Uganda, to open a regional office in Kampala.[3]

Overview

Africa Export–Import Bank is a large multilateral financial service organization, with total assets valued at US$11.5 billion and shareholders' equity of US$2.3 billion, as of 30 June 2018[4]

Recent developments

The 25th Annual General Meeting of the bank's shareholders was held from 9–14 July 2018 in Nigeria. This meeting was presided by Dr. Benedict Oromah, the president of the bank.[5]

During the annual general meeting of the bank in Abuja to commemorate its 25th anniversary, Nigeria's minister of finance Kemi Adeosun was elected chairman of the board of the bank. She is succeeding the outgoing chairman Ndagijimana Uzziel, Minister of Finance of the Republic of Rwanda.[6]

Shareholding

As of May 2018, the bank's shareholders, totaling 146, were divided into four categories:[7][8]

  • Class "A" Shareholders - African governments, African central banks, and African regional Institutions.
  • Class "B" Shareholders - African private investors and African financial institutions.
  • Class "C" Shareholders - Non-African financial institutions, export credit agencies, and private investors
  • Class "D" Shareholders - Other institutions and individuals.[9]

See also

References

  1. ↑ Ngugi, Brian (26 September 2016). "Afreximbank appoints new executive vice president". Business Daily Africa. Nairobi. Retrieved 27 September 2016.
  2. ↑ Afreximbank, . "Afreximbank: Headquarters And Branches". AfrExImBank.Com/Afrexim/En (Afreximbank). Archived from the original on 26 August 2014. Retrieved 25 August 2014.
  3. 1 2 Business Daily Africa (20 July 2018). "Kenya loses race to host $30 million AfreximBank office". The EastAfrican Quoting Business Daily Africa. Nairobi. Retrieved 20 July 2018.
  4. ↑ Wade, Adama (17 August 2018). "Afreximbank Releases Half-Year Results, Shows $343 million in Gross Revenue". Financial Afrik. Archived from the original on 30 August 2018. Retrieved 30 August 2018.
  5. ↑ Sandu, Ndamu (12 July 2018). "Afreximbank disburses $8bn from intra-African trade facility". News Day. Zimbabwe: AMH. Archived from the original on 12 July 2018. Retrieved 30 August 2018.
  6. ↑ "Kemi Adeosun elected Afreximbank board chairperson | TODAY.NG". TODAY.NG. 2018-07-14. Retrieved 2018-07-18.
  7. ↑ "INVESTOR UPDATE FIRST QUARTER 2018 RESULTS PRESENTATION" (PDF). Afreximbank. 11 May 2018. Archived from the original (PDF) on 30 August 2018. Retrieved 30 August 2018.
  8. ↑ Reuters, . (17 October 2013). "Fitch Affirms African Export–Import Bank At 'BBB-'; Outlook Negative". Thomson Reuters. Retrieved 25 August 2014.
  9. ↑ Business, Reporter (10 December 2012). "Afreximbank Capital Bid Gets Nod". The Herald (Harare) ©2013 The Herald.
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