Professor Benedict Oramah recognised for long service as Export Trading Group (ETG), TRACE, KCB and CBZ toast award success at 32nd Afreximbank Annual Meetings
The third edition of the Pan-African Business and Development Awards has recognised and celebrated leading businesses on the continent and in the diaspora in alignment with Afreximbank's push for a promotion of a Global Africa
Marking his distinguished tenor, Professor Benedict Oramah, outgoing Afreximbank President, was honoured with the Bank's Long Service Award alongside other employees
Export Trading Group (ETG) won the Global Africa Business Leader Award 2025 for fostering economic growth across the continent and enhancing food security
KCB Group Plc, Kenya and CBZ Bank, Zimbabwe emerged winners of the Afreximbank Financial Institutions Award 2025 for banking institutions with more than $500m and less than $500m capital respectively for having played a pivotal role in bridging the trade finance gap in Africa.
TRACE, a multimedia platform dedicated to the entertainment and empowerment of people of African descent won the Diaspora Business of the Year Award for their impact in strengthening continental and diaspora ties.
African Export-Import Bank (Afreximbank) (www.Afreximbank.com) hosted the third edition of the Pan-African Business and Development Awards in association with the Business Council for Africa (BCA) on Wednesday June 25, 2025, at a colourful Gala Dinner attended by more than 400 dignitaries including business and political leaders from Nigeria, across Africa and the diaspora.
The Pan-African Business and Development Awards, held annually during the Afreximbank Annual Meetings, are designed to celebrate and recognise transformative businesses and financial institutions within the African continent and in the diaspora in keeping with the Bank's vision for a Global Africa.
Export Trading Group (ETG), operational in nearly 20 countries on the continent, won the Global Africa Business Leader Award, 2025 for fostering economic growth across the continent and enhancing food security by connecting smallholder farmers with regional and global markets, improving livelihoods and boosting intra-African trade, reflecting Afreximbank's mandate of fostering trade and economic growth across the continent. The company's investments in storage, logistics, and processing infrastructure have helped reduce post-harvest losses and increased value addition.
This year, TRACE, the multimedia platform dedicated to the entertainment and empowerment of people of African descent, won the Diaspora Business of the Year award for its impact in strengthening continental and diaspora ties through the vehicle of entertainment. Its mission is to uplift African identity through music, education, and storytelling. TRACE's platforms reach and support over 5,000 artists and 1,000 brands annually. It employs hundreds across Africa, contributing hundreds of millions of dollars in value.
Two banking giants were recognised in the Afreximbank Financial Institutions Award - 2025. KCB Group Plc, Kenya's largest bank by assets emerged winner of the award for banking institutions with more than $500m capital while CBZ Bank, also Zimbabwe's largest Bank emerged winner of the Afreximbank Financial Institutions Award-2025 for banking institutions with less than $500m capital.
KCB, which won in the same category in 2024, was recognised for facilitating local and cross-border trade finance through various products as well as mitigating risks inherent in trade on behalf of its customers. One of the first East African banks to enhance financial inclusion and economic growth, it has positioned itself as an enabler for businesses and consumers to transact efficiently across African borders.
CBZ Bank from Zimbabwe has played a pivotal role in bridging the trade finance gap in Africa by leveraging strategic partnerships, introducing innovative products, and executing a comprehensive pan-African vision. During the 31 st Afreximbank Annual meetings held in Nassau, The Bahamas last year, CBZ Bank and Afreximbank inked two deals (https://apo-opa.co/44ZDCxm) totalling $80 million consisting of US$60 million line of credit and $20 million Afreximbank Trade Facilitation Programme (AFTRAF) facility signalling their continued collaboration aimed at promoting economic development.
In a speech delivered on behalf of Professor Benedict Oramah, President and Chairman of Board of Directors at Afreximbank, the Bank's Senior Executive Vice President, Denys Denya, said: 'This Awards event is our way of saying thank you to everyone who, regardless of size or significance of your role, has contributed to furthering the course of development in Africa. I would like to take this opportunity to congratulate you. With these awards, we reaffirm our commitment to the shared goal of transforming the African economy and restoring the dignity of Africans, regardless of their geographic location.'
Arnold Ekpe, former group CEO of Ecobank Transnational Incorporated and chair of the BCA, in his remarks, commented on the importance of recognising and celebrating institutions that contribute to Africa's development, which he said, 'has become the defining essence of Afreximbank.'
A major highlight of the awards ceremony was the recognition of four long serving Afreximbank staff members for their dedicated service of between 25 and 30 years. This esteemed group included Professor Benedict Oramah who was honoured for over three decades at the Bank with ten years spent at the helm as President and Chairman of Board of Directors.
Presenting the long service award to Prof. Oramah, Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy said: 'Tonight, we acknowledge not just a remarkable career, but a transformative journey spanning three decades. Under your leadership, the bank hasn't just scaled; it has soared, championing strategies that have fundamentally reshaped trade and development across Africa. Nigeria is incredibly proud of your achievements, your leadership, and your unwavering commitment to the economic prosperity of our continent. You are a true son of the soil; a shining example of what dedication and vision can accomplish.'
The Pan-African Business and Development Awards are hosted by Afreximbank in association with the BCA. The awards series was launched in 2023 to recognise those organisations and leaders that epitomise the pan-African spirit by leading the way in building substantive and transformative cross-border businesses.
Distributed by APO Group on behalf of Afreximbank.
Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
Follow on Social Media:
X: https://apo-opa.co/4nVC0NN
Facebook: https://apo-opa.co/44SE54f
LinkedIn: https://apo-opa.co/459VM0t
Instagram: https://apo-opa.co/44WtHZo
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
31 minutes ago
- Zawya
Dangote's Game Changing Impact on African Energy
The historic commencement of operations at the 650,000 barrels-per-day Dangote Refinery has redefined Africa's refining ambitions, establishing a new epicenter for oil product supply across West Africa and beyond. As the continent's largest single-train refinery – and one of the most technologically advanced globally – Dangote represents a turning point for African energy self-sufficiency, reducing import dependence and reshaping traditional trade flows within the Atlantic Basin. Already, the refinery has begun exporting refined products, with early shipments pointing to a diversification of destinations – from regional African markets to Europe and Asia. These developments are ushering in a new era for crude and product flows, as well as domestic monetization strategies. The facility's ability to process a slate of Nigerian and other light sweet crudes is having far-reaching implications not only for Nigeria's upstream sector but for oil producers across the Gulf of Guinea, potentially prompting shifts in production plans, infrastructure investment and regional trade dynamics. As Africa's premier energy event returns to Cape Town, African Energy Week (AEW) 2025: Invest in African Energies will place a critical spotlight on West Africa's evolving refining landscape with a dedicated workshop on the 'The Dangote Refinery and its Impact on the African Refining Balance.' Hosted by the African Energy Chamber (AEC) and S&P Global Commodity Insights, the session will take place on Monday, September 29 from 11:30 to 12:30, drawing key industry stakeholders and policy leaders into a dynamic discussion on one of the most transformational projects in the continent's oil and gas sector. Beyond reshaping crude and product markets, the refinery is also impacting fuel quality and environmental standards in the region. Dangote's state-of-the-art configuration allows it to produce Euro V standard fuels, a major step forward for countries long reliant on lower-quality imports. This creates new opportunities for West African governments to strengthen fuel specifications, improve urban air quality and reduce exposure to volatile global supply chains. The workshop will also explore the broader impact of Dangote on Africa's existing refining infrastructure. With aging, underutilized refineries scattered across the continent, the rise of a mega refinery capable of meeting domestic and regional demand poses significant questions for legacy plants. Will they modernize, reposition themselves to serve niche needs or shut down entirely in the face of more efficient competition? The discussion will address the strategic responses by national oil companies and private operators as they navigate this new refining era. 'AEW 2025 continues to serve as the continent's definitive platform for energy dialogue, investment and innovation, with the Dangote workshop exemplifying the type of forward-looking conversations shaping the future of African energy. As West Africa's refining ambitions begin to bear fruit – and as the continent seeks to capture more value across its energy value chain – the implications for energy security, trade and industrial development are profound,' says NJ Ayuk, Executive Chairman, African Energy Chamber. To register for the workshop click here ( Distributed by APO Group on behalf of African Energy Chamber. About African Energy Week: AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event.
Zawya
an hour ago
- Zawya
Angola Advances National Road Plan with €85M Support from Africa Finance Corporation (AFC)
Africa Finance Corporation (AFC) ( the continent's leading infrastructure solutions provider, has closed and disbursed €75 million of an €85 million sovereign facility to Government of Angola, through the Ministry of Finance, to support the construction of 186 priority bridges and critical upgrades to the national road network. The project, part of Angola's National Development Plan (2023–2027), is aimed at reducing transportation costs, facilitating access to markets for agricultural producers, and creating approximately 900 direct jobs, while strengthening the resilience, efficiency, and inclusivity of Angola's transport system. Solely arranged and financed by AFC, the transaction marks a significant milestone in the €381.5 million financing package previously announced, with AFC serving as the mandated lead arranger on the commercial tranche, and the U.S. Export-Import Bank through the U.S. Private Export Funding Corporation leading the export credit agency tranche. Other key partners include Standard Chartered Bank as the coordinating and structuring bank; Conduril, a leading Portuguese civil engineering firm which is the main EPC contractor; and Acrow, a U.S. construction industry giant as the bridge supplier. This disbursement reinforces AFC's commitment to working alongside African governments to deliver infrastructure that supports inclusive growth, regional connectivity, and economic transformation. "We are proud to advance this catalytic investment that will connect underserved regions, enhance regional trade, and improve the quality of life for millions of Angolans,' said Samaila Zubairu, President&CEO of Africa Finance Corporation. 'This disbursement demonstrates AFC's unique capacity to structure and fund impactful infrastructure projects that address critical national priorities and accelerate economic transformation," he added. The project is expected to significantly strengthen the resilience of Angola's transport network to climate-related disruptions, reduce travel times, and lower logistics costs for communities, farmers, and businesses. It also supports regional integration by enhancing trade corridors and cross-border connectivity across Southern and Central Africa. With this transaction, AFC reaffirms its role as a trusted partner to African governments in delivering bankable infrastructure solutions that address the continent's most urgent development challenges. Distributed by APO Group on behalf of Africa Finance Corporation (AFC). Media Enquiries: Yewande Thorpe Communications Africa Finance Corporation Mobile: +234 1 279 9654 Email: About AFC: AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC's approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth. Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
Zawya
2 hours ago
- Zawya
South Africa: De Lille outlines tourism budget priorities, reforms and growth plans
Tourism Minister Patricia de Lille has outlined how the Department of Tourism's R2.434bn budget for the 2025/26 financial year will be directed towards destination development, tourism support services, legislative reforms, and job creation, with a strong emphasis on rural and township economies. "This budget is based on the Government of National Unity's Programme of Action for the next five years," said De Lille, addressing the National Council of Provinces (NCOP) on Tuesday, 22 July. "Our mission is clear: to elevate the profile of tourism as a key driver of economic growth and job creation, as it is identified in the National Development Plan and the Tourism Sector Master Plan." Budget allocation breakdown According to De Lille, the primary allocations from the R2.434bn budget include: • R1.3bn to South African Tourism • R331m to Destination Development, primarily directed to the Working for Tourism programme • R331m to Tourism Sector Support Services, which fund initiatives such as the Green Tourism Incentive Programme (GTIP), Tourism Grading, Market Access, and the Tourism Transformation Fund (TTF) Response to Select Committee concerns De Lille welcomed the recommendations from the Select Committee on Economic Development and Trade, chaired by Sonja Boshoff, stating: "The Select Committee has identified key aspects where I, too, think the Department of Tourism and South African Tourism can sharpen their focus to deliver on our mandate." "These matters the Department is trying to address in its work, and the current Budget Policy is before the NCOP today for debate," she said. Focus on legislative reforms and governance The department will finalise and table the Tourism Amendment Bill, which aims to address short-term rentals, grading enforcement, and governance. De Lille also committed to: • Reviewing legacy strategies, including those on Heritage & Cultural Tourism, Rural Tourism, and Service Excellence • Implementing 60-day fund approval targets for GTIP, TEF and TTF, with consequence management • Enhancing oversight and governance through quarterly public dashboards tracking EPWP placements, fund disbursements, and risk metrics She said: 'We will strengthen internal controls, audit committees and contract and consequence-management frameworks.' New five-pillar sector plan launched De Lille unveiled the Tourism Growth Partnership Plan, a sector-wide action framework built on five pillars: 1. Ease of access – including visa reform, air connectivity and road transport 2. Coordinated destination marketing 3. Tourist safety and security 4. Tourism product development 5. Job creation – with a focus on youth employment and skills pathways She announced that an Execution Lab will be held next week with sector leaders to develop implementation strategies and timelines to meet 2030 growth targets. Destination development projects in nine provinces De Lille detailed 17 community tourism infrastructure projects scheduled for completion this financial year. Highlights include: • Mthonsi and Qatywa Lodges (Eastern Cape) • Qwa Qwa Guest House (Free State) • Muzi Pan Project (KwaZulu-Natal) • 10 Limpopo projects, including Mapate Recreational Tourism, Nandoni Dam and Phiphidi Waterfall • Mdluli Cultural Centre (Mpumalanga) and Manyane Lodge (North West) At the Tisane Project in Limpopo, upgrades to accommodation and a restaurant have already enabled the hosting of several community functions. "We are also working to finalise condition assessments for five World Heritage Sites," she added. Nearly 18,000 visit new dinosaur centre in a month Since launching on 22 June 2025, the Kgodumodumo Dinosaur Interpretation Centre at Golden Gate Highlands National Park has already attracted nearly 18,000 tourists in its first month. "This demonstrates the power of partnerships. The project was funded by the European Union, with the Department of Tourism working in close collaboration with the Department of Environment, Forestry, and Fisheries," said De Lille. Investment and marketing initiatives In September 2025, the department will host the first Tourism Investment Conference in Cape Town to attract anchor investors for tourism infrastructure. "We will launch our Tourism Investment Booklet in collaboration with the UN Tourism," De Lille said. South African Tourism will also sharpen its marketing efforts, particularly in India, China, and Brics+ countries, supported by the improved air access and direct flights expected to resume through SAA. At the recent China mission with Deputy President Paul Mashatile, De Lille noted: "It was encouraging to hear from 150 tour operators about the positive impact the Department of Tourism's Trusted Tour Operator Scheme (TTOS) is having on sentiment." The department aims to support 105 MICE bid submissions, convert 25 into closed wins, and host 10 events in villages, townships and small towns, with a targeted economic impact of R120m. Youth innovation and risk management To address digital and climate-related challenges, the department is developing a Digital Maturity Roadmap, a real-time tourism dashboard, and mobile tools. A G20 Hackathon will also be hosted, in partnership with 18 higher education institutions, inviting students to propose digital tourism solutions. The Sector Risk and Mitigation Plan will prioritise climate change, safety, health, and governance. In closing, De Lille reiterated the department's commitment to reform and inclusive growth: "Together, we will create a resilient and inclusive tourism sector that powers South Africa's future."
