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Finance Minister commends Afreximbank for its Commitment to Developing Africa.

Finance Minister commends Afreximbank for its Commitment to Developing Africa.

Accra 19th June 2023 - The Minister for Finance, Hon. Ken Ofori Atta has commended the Africa Export and Import Bank's (Afreximbank) for its commitment to developing the African continent throughout its economic crisis.

He noted that, the bank had contributed enormously to the growth of African businesses. Mr. Ofori Atta made the commendation during the 30th Afreximbank Annual Meeting held in Accra on Monday, June 19, 2023.

He disclosed that under the leadership of President Benedict Oramah, Afreximbank has disbursed over US$7 billion to assist African economies in addressing the health and economic impacts of the pandemic.

“Additionally, in a landmark transaction with Strive Masiyiwa, of a US$2 billion financing deal in 2021, Afreximbank guaranteed the procurement of 400 million doses of Johnson and Johnson COVID-19 vaccines that provided access to 30% of Africa’s population and some Caribbean countries.”

The Minister implored African leaders to share in the vision of the Pan-African bank to give deepened credence to the bank.

According to him, there was the need to position the Bank as a bridge extending forward for people to walk across to have a better sense of agency about the course of their lives.

“Our aspirations must be to build on a deeper sense of shared responsibility and ensure our institutions are supported enough to crowd in trillions of dollars’ worth of financing into Africa,” he said.

Indeed, he asserted, with a mandate that combines social, economic, financial, and environmental goals, under the guidance of President Oramah, the bank can contribute an incredible amount of work toward Africa’s collective goal of achieving a prosperous Africa within the next 30 years of the Bank’s existence. 

He said in 1961 Korea’s GDP was US$82 per capita and 60 years later in 2022 it was about US$33,400 adding that “We have 30 years to achieve this for our 1.4 billion people”.

“As we contemplate the effects of the recent “poly-crises” and deliberate on the future of our EXIM bank, it is increasingly clear that now is the moment of fierce urgency to deliver on our Bank’s vision of building prosperity and improving the fortunes of 1.4 billion lives on our Continent- a continent that by 2050 would have a quarter of the world’s population, and about 850 million youth,” he concluded.

Present at the opening ceremony, were, HE Azali Assoumani, President of Comoros, HE Lazarus Chakwera, President of Malawi, HE Mia Motley, Prime Minister of Barbados, HE Faure Gnassingbe, President of Togo, HE Aymen Benabderrahmane, Prime Minister of Algeria, HE Patrice Émery Trovoada Prime Minister of Sao Tome and Principe, HE Dr. Ralph Everard Gonsalves, PM of St Vincent and the Grenadines, HE Philip Davis, Prime Minister of Bahamas, HE Brigadier Mark Anthony, Phillips Prime Minister of Guyana, Former President of Nigeria, H.E Olusegun Obasanjo, Former President of Niger, H.E Issoufou, Former Vice President of Nigeria, Namadi Sambo, Former Prime Minister of Ethiopia Haile Mariam, HE Demeke Mekonnen, Deputy PM and Foreign Minister of Ethiopia, Hon. Njuguna Ndung'u Minister of Finance Kenya, Hon. Matia Kasaija Uganda, Minister of Finance, Uganda, and HE Professor Benedict Oramah, President and Chairman of the Board of Directors of Afrexibank. END

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