The Governor of the Central Bank of Nigeria, Yemi Cardoso, has urged greater strategic alignment among African nations as the African Export-Import Bank expands its capital assets beyond $40 billion as of 2024.
He made the call on Wednesday during his remarks at the Afreximbank 2025 Annual Meetings, held under the theme “Building the Future on Decades of Resilience.”
He noted that the bank’s $40 billion capital assets in 2024 are a testament to its prudent financial management and strategic vision.
“From an initial capital base of $750 million—a relatively small amount by international standards—the bank has expanded its capital assets to over $40 billion as of the end of last year.
“This remarkable trajectory reflects both prudent financial stewardship and the continent’s growing confidence in its capabilities.
“It is also a testament to the expanding coalition of stakeholders, spanning 51 African countries and a mix of public and private investors who have placed their trust in Afreximbank,” he said.
He stressed that even as the bank’s achievements are celebrated, it is vital to confront the ongoing and emerging challenges facing Africa, including increasing trade protectionism, global economic fragmentation, and evolving geopolitical tensions.
According to him, these challenges pose significant risks to the continent’s development and threaten the stability of the global system—making Afreximbank’s role in addressing them more essential than ever.
Cardoso urged stakeholders to make deliberate decisions, strengthen foundational structures, and embrace a mindset focused on long-term impact and sustainability.
“First, it takes strategic foresight—the ability to look beyond the noise of the present and invest in solutions for the next decade, not just the next quarter. Resilient institutions are always thinking ahead. Second, it requires crisis preparedness,” he added.
He emphasized that true resilience requires sound decision-making, reliable data, robust infrastructure, and a commitment to continuous learning and growth.
“To achieve the future envisioned for both Afreximbank and the continent, Cardoso stressed that stakeholders “must foster greater strategic cohesion among African member states.”
The ongoing meeting attracted a wide range of participants, including heads of state, government ministers, leaders of trade institutions, policymakers, private sector representatives, and other key stakeholders.
Nigeria stands as one of Afreximbank’s major shareholders and remains one of its largest beneficiaries, receiving around 60% of the Bank’s US$30 billion funding for Africa’s energy sector as of 2024.
The Bank has played a pivotal role in Nigeria’s energy and industrial transformation, with substantial investments in key projects such as the Dangote Refinery and the Port Harcourt Refinery.
