Cumulative investment by Afreximbank in Nigeria has hit $50 bn in the last 10 years.
The President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, made this known on Thursday during the commissioning of the Afreximbank Africa Trade Centre,AATC, in Abuja.
Oramah explained that the fund supported sectors such as energy, manufacturing, healthcare, transport, and financial services, adding that $19 billion was channelled specifically into Nigeria’s financial sector, helping it achieve remarkable growth.
He emphasised Afreximbank’s commitment to driving Nigeria’s development and expanding the non-oil economy. “Over the last decade alone, total disbursements into Nigeria amounted to about $50bn,” he said.
The AATC Abuja, the first of its kind, is a $120 million facility that began in November 2021 and was completed in 41 months. It is part of Afreximbank’s strategy to create a network of trade centres across Africa and the Caribbean.
According to Oramah, the centre is a hub for regional integration and digital trade. “This centre will act as a lighthouse for interconnections,” he said, “enabling businesses across Africa and the Caribbean to connect, collaborate, and trade.”
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The centre houses a technology incubation hub, SME incubation space, the Digital Africa Trade Gateway, and conference and exhibition halls.
He revealed that the next AATC will be launched in Harare by August 2025, with others planned for Kampala, Cairo, and Yaoundé.
Other Afreximbank-backed projects in Nigeria include the $750 million African Medical Centre of Excellence in Abuja, developed in partnership with King’s College Hospital, London.
In addition, the bank is supporting quality assurance centres in Ogun, Kaduna, and Imo States to help Nigerian exports meet international standards.
Afreximbank has also opened a $200 million credit facility to support Nigeria’s creative industry, helping it generate jobs and expand its global reach.
President Bola Tinubu, represented by SGF George Akume, reaffirmed Nigeria’s support for the bank, while ministers Jumoke Oduwole and Wale Edun praised Afreximbank’s impact on trade, industry, and digital transformation.
Crediblenewsng.com
