The African Export-Import Bank (Afreximbank) has intensified its call for stronger industrialisation and intra-African trade, urging African leaders to rethink the continent’s economic model ahead of its 2026 Annual Meetings in Egypt.
The four-day gathering, scheduled for June 21 to 24, is expected to attract more than 4,000 delegates, including heads of state, central bank governors, policymakers, investors and business leaders, amid rising concerns over global economic volatility and geopolitical tensions.
Afreximbank President Dr George Elombi said Africa can no longer rely heavily on external markets and raw commodity exports if it is to achieve sustainable growth and economic sovereignty.
He said the continent’s next phase of development must be driven by deeper intra-African trade, industrial processing and regional economic integration, pointing to frameworks such as the African Continental Free Trade Area and the Pan-African Payment and Settlement System as key foundations already in place.
Elombi also highlighted the bank’s growing partnerships with African central banks, saying these alliances are central to strengthening trade finance systems and improving resilience against external financial shocks.
He disclosed that Afreximbank is working with the Central Bank of West African States on a $5 billion programme aimed at supporting commercial banks and improving access to trade finance across the sub region. He also noted expanded cooperation with the Bank of Central African States to reinforce regional financial stability and integration.
According to him, the institution is also advancing initiatives to ease cross border trade, including the Collaborative Transit Guarantee Scheme designed to reduce customs delays and improve the movement of goods within Africa.
He said discussions at the upcoming meetings will focus on redirecting trade flows within Africa, building industrial capacity and unlocking investment in manufacturing and infrastructure.
Elombi stressed that meaningful integration would require major investment in logistics, transport and energy systems, adding that Africa’s mineral wealth remains underutilised due to limited processing capacity in many countries.
He said Afreximbank remains financially strong, with total assets rising to $49.4 billion and shareholders’ funds at about $8.6 billion, while maintaining a capital adequacy ratio of 23 percent and non performing loans at 2.4 percent.
Governor of the Central Bank of Egypt Hassan Abdalla said the partnership with Afreximbank is central to Africa’s transformation agenda, noting that the institution has become a key driver of trade and industrial development across the continent.
He said the annual meetings would serve as a platform for advancing dialogue on trade finance, regional integration and reforms to the global financial system to better reflect developing economies.
