Afreximbank Announces Board Changes and Boosts Capital to $25 Billion at 31st AGM

Afreximbank elects new board members and increases capital to $25 billion, enhancing African trade support.

The African Export-Import Bank (Afreximbank) has announced several key changes to its Board of Directors during its 31st Annual General Meeting, held recently in Nassau, The Bahamas.

In the Class “A” category, Mrs. Lydia Shehu Jafiya has been elected to replace Mr. Aliyu Ahmed. Mrs. Jafiya serves as the Permanent Secretary of the Federal Ministry of Finance in Nigeria. Additionally, Mr. Amadou Hott has been elected to fill the African Development Bank-nominated board seat. Mr. Hott is the Special Envoy of the President of the African Development Bank (AfDB) Group on the Alliance for Green Infrastructure in Africa, and he previously held the position of Senegal’s Minister for Economy, Planning, and Cooperation.

For Class “B”, Mr. Noël Mekulu Mvondo Akame has been elected to replace Mr. Jean-Marie Mani. Mr. Mekulu Mvondo Akame currently holds the position of Director General of the National Social Insurance Fund (CNPS) of Cameroon.

In Class “C”, Ms. Yu Wen has been elected to replace Ms. Lili Yang. Ms. Yu Wen serves as the General Manager of the International Department at the Export-Import Bank of China (CEXIM).

In a significant development, the shareholders approved an increase in Afreximbank’s authorised share capital from US$5 billion to US$25 billion. This increase underscores the Bank’s rapid growth and its commitment to addressing the challenges facing the African continent. It also enhances the Bank’s capacity to support the continent’s development and global trade integration.

Afreximbank is most grateful to departing Board Members for their services to the Bank and Africa. They were for many years, part of a formidable team, that made significant contribution to the Bank’s vision for Africa, created alliances, and assisted Africa in navigating major headwinds. We welcome our new board members. We look forward to their support and insight as we strive to build a prosperous Global Africa. Together, we will restore dignity and pride to Africans around the world.

The overwhelming endorsement by Shareholders of the historic increase of the Bank from US$5 billion to US$25 billion reflected their firm belief and trust in the Board and Management of the Bank and in the Bank’s mission. This move gives us the necessary headroom to mobilise the capital we need to create a bank that serves all Africans.

Prof. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank

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