Afreximbank evolved over past 3 decades “from visionary concept into world-class African institution: Hassan Abdalla

CAIRO - 25 October 2025: Central Bank of Egypt Governor Hassan Abdalla hailed Afreximbank’s long-standing contribution to Africa’s economic transformation as he addressed the investiture ceremony of the Bank’s new President, George Elombi, in Cairo on Friday.

Abdalla described the occasion as a landmark moment reflecting both renewal and continuity within one of Africa’s most influential financial institutions. He said Afreximbank has evolved over the past three decades “from a visionary concept into a world-class African institution,” driving the continent’s trade, industrialisation, and regional integration.

He reaffirmed Egypt’s role as a founding shareholder and proud host of Afreximbank’s headquarters, adding that Africa’s growing population, dynamic labour force, and expanding consumer base position it as a key engine of global economic growth.

Abdalla highlighted the African Continental Free Trade Area (AfCFTA) as a transformative framework unlocking the continent’s full market potential, with Afreximbank serving as a major enabler through initiatives such as the Pan-African Payment and Settlement System (PAPSS), the AfCFTA Adjustment Fund, and the establishment of industrial and special economic zones.

Commending the bank’s crisis response, he noted its vital role during the COVID-19 pandemic in stabilising African economies and strengthening the continent’s financial resilience.

He paid tribute to outgoing President Professor Benedict Oramah for his decade of leadership and welcomed Elombi’s appointment, voicing confidence that the new President would continue advancing Afreximbank’s mission of building Africa’s trade capacity and supporting industrial growth.