Sunday, June 7, 2026
Sunday, June 7, 2026
From $4.3B to $43.5B, Oramah’s Afreximbank era delivers for CARICOM with 13th member state to join bank next week
By Kurt Campbell in Abuja
In an emotionally charged hall in Abuja on Friday, Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, received a thunderous standing ovation as he delivered his final report card.
“When I took over in 2015, our total assets stood at just $4.3 billion. Today, we stand at $43.5 billion,” Oramah declared to cheers from an audience that included several CARICOM Heads of Government.
The outgoing President used his final Annual Meetings address at the Transcorp Hilton to celebrate promises kept — not least to the Caribbean. Oramah confirmed that next week a 13th CARICOM country will formally join the bank, cementing Afreximbank’s deepening Caribbean push.
“Next week, we welcome our 13th CARICOM member. This is not just expansion — it’s a bridge across the Atlantic,” Oramah said.
Under his watch, Afreximbank has invested an estimated $120 billion across Africa and the Caribbean, transforming the bank into what he called a “trustee institution” for tackling shocks and driving critical sectors forward.
Oramah’s tenure was marked by bold moves, including the opening of Afreximbank’s first Caribbean office in Bridgetown, Barbados — a move he described as “a cornerstone for Africa-Caribbean integration.”
Millions have since been disbursed to the Bahamas, Barbados, Grenada, Guyana, and Saint Lucia. Only last year, Afreximbank arranged a $1.6 billion facility for Suriname’s state oil company and is now working with the Guyana Government on a $1 billion local content facility to ensure oil wealth delivers real local benefits.
“There was no sacrifice too great for me to make for this bank,” Oramah told the hall. “I stand here pleased to say I have fulfilled my promises.”
Over the past decade, the bank’s shareholder equity has soared, revenues have grown sevenfold to $3.2 billion, and net income has climbed to nearly $1 billion annually. Oramah proudly pointed to dividends paid out since 2015 totalling $1.35 billion, with up to 70% reinvested — a sign, he said, of “unshakable confidence.”
He leaves behind a pipeline that he believes will propel Afreximbank towards a staggering $250 billion in assets and guarantees.
In his parting words, Oramah urged Africa and the Caribbean to press ahead with industrialisation — the only real path, he said, to escape poverty. “Our bank must keep investing in industrial parks, value addition, and intra-African trade,” he urged.
Friday’s standing ovation was a sign that many believe he has laid the foundation for that vision.
“We have built a solid financial institution that is good for global Africa,” he said, voice breaking slightly. “Now, let us build an even greater one — together.”
