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Sunday, 28 September 2025 / 02:02 PM
Today at Al-Ittihadiya Palace, President Abdel Fattah El-Sisi received President and Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank), Dr. Benedict Oramah, whose term is set to end in October 2025, and the Bank’s incoming President, Dr. George Elombi, who will lead the institution until 2030. The meeting was attended by Governor of the Central Bank of Egypt, Mr. Hassan Abdullah.
Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said President El-Sisi extended his greetings to Dr. Elombi on his election as the new President of the bank, whose headquarters is based in Egypt, and on the approaching commencement of his term. The President also commended Dr. Oramah’s efforts in leading the bank’s activities over the past decade, expressing Egypt’s appreciation for the ongoing partnership with Afreximbank and the bank’s efforts to promote and diversify intra-African trade and enhance Africa’s share of global trade. In this context, Dr. Elombi outlined his plans and vision to further develop the Bank and strengthen its role within the African continent.
Dr. Oramah reviewed the key achievements made during his tenure as President of Afreximbank, notably contributing to the launch of the African Continental Free Trade Area (AFCFTA). He emphasized that the bank would continue to play an active role in Africa under Dr. Elombi’s leadership. Afreximbank officials expressed gratitude for the significant support provided by the Government of Egypt to the Bank over the past years under the leadership of President El-Sisi.
President El-Sisi underscored Afreximbank’s pivotal role in supporting the capabilities of African countries to strengthen manufacturing activities, develop their exports, overcome related structural obstacles, and foster their ability to improve their economic performance. This also contributes to maximizing the benefit from the African Continental Free Trade Agreement and supports the African countries’ efforts in their pursuit of the goals of the 2030 Agenda for Sustainable Development and the Agenda 2063 for Development in Africa. For their part, Afreximbank officials reviewed the Bank's activities which aim to boost trade rates among African countries, facilitate manufacturing and export development within the continent, and increase the financing available for commercial businesses.
The President discussed Egypt’s efforts to achieve comprehensive development across the country, pointing out the priority Egypt places on increasing its exports, including to fellow African countries, localizing industry in Egypt, and attracting more Foreign Direct Investment to the Egyptian market, given the enormous opportunities it offers in many fields. Opportunities to strengthen cooperation between Egypt and the Bank and ways to increase the Bank's contribution to implementing major development projects in Egypt were also discussed.
The Governor of the Central Bank of Egypt affirmed his appreciation for Afreximbank's role in supporting many major development projects within Egypt. He noted the Central Bank's keenness on supporting Afreximbank and on promoting the existing strategic partnership, particularly since the Central Bank of Egypt is the largest contributor to the African Bank's capital, in addition to the contribution of five other Egyptian commercial banks to its capital.
The Afreximbank officials welcomed the continued exploration of opportunities to boost the ongoing cooperation between Egypt and the Bank in various fields. They lauded Egypt’s tangible leap in amplifying economic growth rates despite the challenges facing the region, increasing the rates of Egyptian exports, and attracting investments to the Egyptian market, notably following the extensive activities and projects implemented in the field of infrastructure in Egypt.
Sunday, 28 September 2025 / 02:02 PM
Today at Al-Ittihadiya Palace, President Abdel Fattah El-Sisi received President and Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank), Dr. Benedict Oramah, whose term is set to end in October 2025, and the Bank’s incoming President, Dr. George Elombi, who will lead the institution until 2030. The meeting was attended by Governor of the Central Bank of Egypt, Mr. Hassan Abdullah.
Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said President El-Sisi extended his greetings to Dr. Elombi on his election as the new President of the bank, whose headquarters is based in Egypt, and on the approaching commencement of his term. The President also commended Dr. Oramah’s efforts in leading the bank’s activities over the past decade, expressing Egypt’s appreciation for the ongoing partnership with Afreximbank and the bank’s efforts to promote and diversify intra-African trade and enhance Africa’s share of global trade. In this context, Dr. Elombi outlined his plans and vision to further develop the Bank and strengthen its role within the African continent.
Dr. Oramah reviewed the key achievements made during his tenure as President of Afreximbank, notably contributing to the launch of the African Continental Free Trade Area (AFCFTA). He emphasized that the bank would continue to play an active role in Africa under Dr. Elombi’s leadership. Afreximbank officials expressed gratitude for the significant support provided by the Government of Egypt to the Bank over the past years under the leadership of President El-Sisi.
President El-Sisi underscored Afreximbank’s pivotal role in supporting the capabilities of African countries to strengthen manufacturing activities, develop their exports, overcome related structural obstacles, and foster their ability to improve their economic performance. This also contributes to maximizing the benefit from the African Continental Free Trade Agreement and supports the African countries’ efforts in their pursuit of the goals of the 2030 Agenda for Sustainable Development and the Agenda 2063 for Development in Africa. For their part, Afreximbank officials reviewed the Bank's activities which aim to boost trade rates among African countries, facilitate manufacturing and export development within the continent, and increase the financing available for commercial businesses.
The President discussed Egypt’s efforts to achieve comprehensive development across the country, pointing out the priority Egypt places on increasing its exports, including to fellow African countries, localizing industry in Egypt, and attracting more Foreign Direct Investment to the Egyptian market, given the enormous opportunities it offers in many fields. Opportunities to strengthen cooperation between Egypt and the Bank and ways to increase the Bank's contribution to implementing major development projects in Egypt were also discussed.
The Governor of the Central Bank of Egypt affirmed his appreciation for Afreximbank's role in supporting many major development projects within Egypt. He noted the Central Bank's keenness on supporting Afreximbank and on promoting the existing strategic partnership, particularly since the Central Bank of Egypt is the largest contributor to the African Bank's capital, in addition to the contribution of five other Egyptian commercial banks to its capital.
The Afreximbank officials welcomed the continued exploration of opportunities to boost the ongoing cooperation between Egypt and the Bank in various fields. They lauded Egypt’s tangible leap in amplifying economic growth rates despite the challenges facing the region, increasing the rates of Egyptian exports, and attracting investments to the Egyptian market, notably following the extensive activities and projects implemented in the field of infrastructure in Egypt.
All rights reserved to the presidency Copyright © 2020
All rights reserved to the presidency Copyright © 2020