Afreximbank strengthens Africa-focused financing model with Central Bank alliances

Afreximbank strengthens Africa-focused financing model with Central Bank alliances

The African Export-Import Bank (Afreximbank) is deepening its Africa-focused financing strategy through stronger partnerships with Central Banks across the continent as it seeks to expand support for trade, industrialisation and financial system stability amid rising global economic uncertainty.

George Elombi, president and chairman of the board of directors of Afreximbank, said the bank’s collaboration model with African Central Banks has become central to its growth strategy and developmental mandate.

Speaking during a hybrid press conference ahead of the Afreximbank 2026 Annual Meetings in Egypt, Elombi said many African governments became shareholders in the institution through their central banks, while central bank governors have consistently played important roles on the bank’s board to ensure Afreximbank remains focused on Africa’s economic transformation.

According to him, the institution is now extending the model beyond individual countries to regional monetary authorities across Africa.

He disclosed that Afreximbank already has a $5 billion programme with the Central Bank of West African States aimed at supporting commercial banks in the sub-region.

“We think this model has to go to the sub-regional Central Banks because they represent tremendous strength,” Elombi said.

He noted that the Bank is also working closely with the Bank of Central African States and intends to deepen similar partnerships in East and Southern Africa.

Elombi said the collaboration with the Central Bank of Egypt has become one of the strongest examples of the model’s success, describing the relationship as instrumental in advancing Afreximbank’s operations and programmes across the continent.

“So, that work with the Central Bank, the model that we have here, is one we’re beginning to push to the rest of the continent,” he said.

Hassan Abdalla, governor of the Central Bank of Egypt, described Egypt’s relationship with Afreximbank as “strategic and fundamental”, noting that both institutions share a common vision of promoting African trade, industrialisation and regional integration.

“Over the years, Afreximbank has established itself as one of the continent’s most impactful financial institutions and a key driver for Africa’s transformation,” Abdalla said.

Egypt hosts Afreximbank’s headquarters and is one of the bank’s founding shareholders.

The strengthened Central Bank partnerships come as Afreximbank ramps up interventions across Africa to address trade financing gaps, infrastructure deficits and external liquidity pressures facing several economies.

Elombi said the bank’s strong financial position enabled its board in March to approve a $10 billion response facility to help African countries finance essential imports such as petroleum products and fertilisers, while also supporting African commercial banks struggling with external liquidity support obligations in net-importing economies.

He said investor confidence in Afreximbank has remained resilient despite the difficult global environment in 2026.

The Afreximbank president stressed that the institution’s broader objective is to strengthen Africa’s economic resilience by encouraging countries to trade more with one another and rely less on external markets.

“When the rest of the world is closed to us, we cannot be closed to ourselves,” he said.

According to Elombi, the bank’s financing priorities over the next 12 to 24 months will focus on energy security, trade finance, financial services support, logistics infrastructure, manufacturing, mineral processing, digital payments and health infrastructure.

He said logistics investments are critical to unlocking intra-African trade, while mineral processing presents significant opportunities for African and Egyptian firms.

Elombi also highlighted plans to establish a gold bank in Egypt, citing the country’s expertise in gold trading, mining capabilities and strategic geographic position linking Africa, the Middle East, Europe and Asia.

He said Afreximbank would move ahead with implementation once the final feasibility study is completed.

The bank is also positioning its 33rd Annual Meetings in Egypt as a platform to connect African businesses with African and international capital through a large-scale “deal room” expected to attract about 4,000 delegates.

Elombi said the meetings would focus on industrialisation, value addition and intra-African trade, while also examining how African countries can reposition trade patterns amid growing geopolitical tensions and supply chain disruptions.

He stressed that African countries must increasingly channel African capital into African projects and businesses.

“We are determined to build an institution that is large and strong enough to meet the interventions Africa needs,” he said.

Elombi added that Afreximbank increasingly encourages governments seeking infrastructure financing to prioritise African contractors and firms capable of executing large-scale projects across the continent.

“We tell them: if you are expecting Africa’s money from African institutions, then use African contractors,” he said.