FOR IMMEDIATE RELEASE

August 7, 2023

 Contact: Jacie Roberts Lallis; (202) 312-1552

jroberts@rrbitc.com

Afreximbank President Announces the “Africa Global Legacy Fund” at the World Trade Center, Washington, DC Event

WASHINGTON, DC- August 7, 2023-President and Chairman of the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah and senior bank executives visited Washington, DC on July 20th, representing one of several global road shows conducted by the Bank to forge new ties between Afreximbank and the continent with international investors.

A high-profile investment dinner hosted by President Oramah of Afreximbank was held at Ronald Reagan Building and International Trade Center (RRB/ITC) and sponsored by the World Trade Center, Washington DC. The program was attended by diaspora and other business executives. Hollywood entertainer and entrepreneur Boris Kodjoe moderated the dinner discussion dubbed “Connecting Global Capital to Africa.”   An Afreximbank “Africa Global Legacy Fund” idea was also announced with a special focus on “Economic Pan Africanism.” President Oramah remarked during dinner, “Our reach extends very deliberately across the Atlantic. We define intra-African trade as trade amongst Africans whatever their geographical location.” In this vein, Oramah also discussed the opening of Afreximbank’s new CARICOM Office in Barbados which aims to expand Africa-Caribbean trade and investment relations. He noted that 10 out of the 15 CARICOM Member States had signed an Afreximbank Agreement, which confers upon these countries status akin to those held by African participating states. 

John P. Drew, president of the World Trade Center Washington DC and CEO of TCMA, the exclusive Manager of the RRB/ITC who joined the intimate program noted, “serving the world’s largest diplomatic community here in Washington for the past 25 years, we have witnessed firsthand the power of diaspora communities in building trade and investment corridors between the U.S. and their home countries.”

Also featured on the Afreximbank U.S. itinerary was a meeting with officials of NASDAQ, the second-largest stock exchange in the world, which includes more than 3,000 companies including Apple, Amazon, Alphabet (formerly Google), and Facebook.

The Whitaker Group, which partnered with Afreximbank in designing the U.S. Road Show, noted that the goals of the visit were to catalyze more U.S. direct investments in Africa, while showcasing Afreximbank as the partner of choice.”

Afreximbank’s road shows have taken President Oramah to nearly every corner of the globe over the past year delivering a message focused on the continent’s demographic youth dividend, and opportunities to leverage its human and mineral capital for a global green economy.

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About AFREXIMBANK

Established in 1993, Afreximbank, headquartered in Cairo, is a leading pan-African development finance institution. The bank's total assets have grown nearly fivefold to over $31B as of 31 December 2022 from a base of $5B on 31 December 2015. In 2022, the bank secured $13.4B in funding primarily from its African sovereign shareholders. The bank recorded Gross income of $1.53B, reflecting 36% growth compared to 2021 and 65% from two years prior. The bank maintained a liquidity ratio of 14.7% over the last three years. With an ROE of 9.9%, ROA of 1.8% in 2022, and a dividend payout ratio of 35% for the same year, Afreximbank delivers value to its shareholders while driving growth and development across Africa. 

About Ronald Reagan Building and International Trade Center (RRB/ITC)

Ronald Reagan Building and International Trade Center is a dynamic hub for government, business, culture, and community, in the heart of the nation’s capital. As the first and only federal building dedicated to both public and private use, the Reagan Building is the official World Trade Center Washington, DC (WTCDC), and a premier conference and event venue with executive office space, attractions, dining, retail, parking, and community activities.

Through the World Trade Centers Association, WTCDC utilizes a global network of 750,000 affiliated businesses from 300 trade centers in over 100 countries to maximize its connections and capabilities. With this extended network, WTCDC works diligently to ensure the RRB/ITC offers a rich mix of signature events such as high-profile economic summits, conferences and cultural programs. These initiatives foster international dialogue, enhance diplomacy, and generate business opportunities. Visit www.rrbitc.com or follow us @ReaganITCDC.