Sisi met at the Ittihadiya Palace with Dr. Benedict Oramah, whose term as Afreximbank President ends in October 2025, and Dr. George Elombi, the President-elect, who will take over the bank's leadership until 2030. The meeting was also attended by Egyptian Central Bank Governor Hassan Abdalla.
The President congratulated Elombi on his election, praised
Oramah's efforts over the past decade in leading the bank, and expressed
Egypt’s appreciation for the partnership with Afreximbank, which is
headquartered in Cairo. Sisi also commended the bank's role in promoting intra-African
trade and increasing the continent's share in global commerce, according to
presidential spokesman Ambassador Mohamed al-Shenawy.
The incoming President, Dr. Elombi, outlined his vision and
plans to further develop the bank and strengthen its role across Africa.
Dr. Oramah, for his part, reviewed key achievements during
his tenure, notably the bank's contribution to the launch of the African
Continental Free Trade Area (AfCFTA), and affirmed Afreximbank's continued
effective role under Elombi's leadership.
Both Afreximbank officials expressed gratitude for the
significant support provided by the Egyptian state and President Sisi
throughout the years.
President Sisi underscored the bank's pivotal role in
supporting African nations' capacity to boost manufacturing, develop exports,
overcome structural obstacles, and improve economic performance. This, he
noted, maximizes benefits from the AfCFTA and supports African countries'
pursuit of the goals of the 2030 Sustainable Development Agenda and Agenda 2063
for African Development, the spokesman added.
The Afreximbank officials detailed the bank's ongoing
activities aimed at increasing trade among African countries, facilitating industrialisation,
developing exports, and increasing available financing for businesses across
the continent.
Al-Shenawy stated that Sisi highlighted Egypt's efforts
toward comprehensive development nationwide and the priority given to
increasing exports, including to fellow African nations, localizing industry,
and attracting more Foreign Direct Investment (FDI) to the Egyptian market.
Discussions also covered opportunities to strengthen
cooperation between Egypt and the bank and ways to increase the bank's
contribution to major development projects in Egypt.
The Central Bank Governor, Hassan Abdalla, affirmed Egypt's
commitment to supporting Afreximbank, noting that the Egyptian Central Bank is
the largest shareholder, with five other Egyptian commercial banks also holding
stakes.
The Afreximbank officials welcomed the prospect of increased cooperation with Egypt, praising the country's tangible surge in economic growth rates despite regional challenges, the increase in Egyptian exports, and its success in attracting investments, particularly following extensive infrastructure projects.