Afreximbank leadership hails Egypt’s economic progress in meeting with Sisi

CAIRO – 28 September 2025: The outgoing and incoming presidents of the Cairo-based African Export-Import Bank (Afreximbank) met on Sunday with President Abdel Fattah El-Sisi, praising Egypt’s tangible economic growth rates despite regional challenges.

Sisi received Benedict Oramah, outgoing Afreximbank president, whose term is set to end in October, and George Elombi, the bank's incoming president who will serve until 2030.

The Afreximbank officials underlined the bank’s commitment to explore ways to expand cooperation with Egypt across various sectors.

They praised Egypt’s significant achievements in increasing exports and attracting investments, supported by extensive infrastructure projects.

Backing African Progress

Sisi expressed Egypt’s appreciation for the partnership with Afreximbank and for the bank’s efforts to enhance and diversify intra-African trade, while working to increase Africa’s share in global trade.

Sisi stressed the bank’s central role in supporting African countries to boost manufacturing, expand exports, overcome structural barriers, and enhance economic performance.

These efforts, the Egyptian president noted, contribute to maximizing the benefits of the African Continental Free Trade Area (AfCFTA) Agreement and support African nations in achieving the goals of the 2030 Agenda for Sustainable Development and the African Union’s Agenda 2063.

 

Sisi highlighted Egypt’s efforts to achieve comprehensive development across the country, stressing the priority given to expanding Egyptian exports, including to African states, localizing industry, and attracting foreign direct investment by leveraging the vast opportunities Egypt offers in various sectors.

The meeting discussed ways to enhance cooperation between Egypt and Afreximbank and increase the bank’s contribution to implementing major development projects in Egypt.

Further Development for Africa

During the meeting, Elombi outlined his plans and vision for developing the bank and strengthening its role within Africa.

The Afreximbank leadership presented the bank’s initiatives to promote intra-African trade, facilitate manufacturing, develop exports, and increase financing for trade activities.

Outgoing bank president Oramah emphasized the bank’s continued active role in Africa under Elombi’s leadership.

Both officials expressed gratitude for the strong support that Egypt, led by Sisi, has extended to the bank over the years.

Attending the meeting, Governor of the Central Bank of Egypt (CBE) Hassan Abdalla commended Afreximbank’s role in supporting many large-scale development projects in Egypt.

Abdalla emphasized the CBE’s strong commitment to supporting Afreximbank and strengthening the strategic partnership between both sides.

He highlighting that the Central Bank of Egypt is the largest shareholder in Afreximbank’s capital, alongside five other Egyptian commercial banks.