By Vivian Ihechu
The African Export-Import Bank (Afreximbank) says the 33rd Annual Meetings (AAM2026) in El Alamein, Egypt, will prioritise concrete projects that deepen intra-African trade, drive industrialisation and strengthen the continent’s economic sovereignty.
Its President and Chairman of the Board of Directors, Dr George Elombi, said this in Cairo while briefing African media on preparations for the meetings scheduled for June 19 to June 24.
He said the core message from Afreximbank’s 33rd Annual Meetings was for Africa to boost intra-African trade and deepen value addition on its resources.
“The message is simple. It is that Africa’s next phase of growth must be driven by intra-African trade, industrial processing, and amongst our countries,” he said.
Elombi said that, built on the foundations of regional integration, the bank was now shifting emphasis to bankable projects that could transform Africa’s production structure and strengthen its resilience in a volatile global environment.
He noted that Afreximbank had supported the creation of key continental instruments such as the African Continental Free Trade Area (AfCFTA) and the Pan-African Payment and Settlement System (PAPSS) to facilitate trade within the continent.
“We have spent much in the last few decades building the institutional foundations for integration,” he said.
Also focusing on infrastructure, logistics and energy, Elombi said the AAM2026 would give prominence to projects in transport and logistics corridors, energy systems, manufacturing, digital trade infrastructure and financial services.
These projects, he said, would help to reduce transaction frictions across borders.
He stressed that logistics was at the heart of the bank’s strategy to boost intra-African trade.
“We are asking for increased intra-African trade. That trade will not occur unless we improve the logistics for that to happen. And there’s tremendous investment by Afreximbank into that sector,” he said.
He added that transport and logistics infrastructure, including corridors linking landlocked and coastal economies, would be a key focus in the “deal room,” where African businesses will meet African and international investors.
On energy security, Elombi said Afreximbank was already working closely with domestic commercial banks, including the National Bank of Egypt and other African banks, to support critical energy projects.
Those sectors, he noted, remain essential, adding that similar models were being deployed with partners in Nigeria and South Africa.
Elombi said that over the next 12 to 24 months, Afreximbank would prioritise supporting manufacturing and processing capacity, particularly in countries like Egypt with established industrial bases.
He pointed to mineral processing as a major opportunity area, citing existing capacities in South Africa and Morocco, and urging Egyptian firms to expand into that space.
“There is also mineral processing.
“The mineral processing capacity that the continent has on its own is largely in South Africa.
“There is some capacity in Morocco, but we believe that the level and the size of Egyptian companies here means that they should begin to look into that sector with sufficient aggression,” he said.
He said Afreximbank would provide financial support to African, especially Egyptian companies that possess the expertise to develop mineral processing projects across the continent.
Elombi also identified digital payments and financial services as critical pillars of the bank’s strategy to reduce transaction frictions and support the new architecture of African trade.
He said instruments such as the African payment system were designed to make cross-border trade easier, cheaper and more predictable for African businesses.
“We have also put plenty of emphasis on the Pan-African payment system,” he said, noting that streamlined payment and settlement were essential to unlock the full benefits of AfCFTA.
Elombi added that Afreximbank’s strong balance sheet, with total assets of 49.4 billion dollars and a capital adequacy ratio of 23 per cent, positioned the institution to back these transformative projects.
He appealed to the media to balance coverage by highlighting Africa’s successes and the opportunities they create. (NAN) (www.nannews.ng)
Edited by Oluwafunke Ishola
