Latest news with #ACTIF2025
Zawya
30-07-2025
- Business
- Zawya
A Living Legacy: Flamboyant Tree Planted in Grenada to Honour Outgoing Afreximbank President Benedict Oramah
On the second day of the AfriCaribbean Trade and Investment Forum (ACTIF2025), a symbolic tree-planting ceremony was held in Grenada to honour Professor Benedict Oramah, outgoing President of African Export-Import Bank (Afreximbank) ( for his enduring contributions to Africa-Caribbean relations. The Flamboyant tree, native to Madagascar but widely rooted across the Caribbean, was chosen for its beauty and symbolic resonance. Known for its brilliant red blooms, it is seen as a representation of vitality, peace, and the promise of growth, which echoes the very principles that have defined Oramah's leadership. Grenada's Prime Minister, Hon. Dickon Mitchell led the tribute, praising Oramah's transformational impact across the region. 'This symbolic but substantive planting of a Flamboyant tree, a tree which originates from Madagascar but has found its way to the Caribbean and adorns the landscape wherever you go, and when it blooms its beautiful red flowers inspire beauty, tranquility, and peace in all of us, is reflective of the significant role that you have played in ensuring that Global Africa can rise, can blossom, can bloom and can stand as a testament and a legacy for future generations,' Prime Minister Mitchell said. In response, President Oramah expressed his deep gratitude to Grenada and the wider Caribbean community: 'As an agricultural economist, I know the value of a plant. In the food life cycle, it is the plant that stands as an anchor. As I join the Honourable Prime Minister in planting this tree, I am reminded that I have found a very deep anchor in Grenada and the CARICOM.' Reflecting on the symbolism, he continued: 'A person who plants a tree must tend the tree, a person who plants a tree must come and harvest the tree, a person who plants the tree must always make sure that the tree lasts and lasts… That is why I regard this as that anchor that will bring me here and keep me here.' 'Africa is the cradle of civilisation. Africa has given the world life, and to use this tree planting to honour me means that you value the work we are doing to give life to people. I would like to reassure you that I will do whatever I can, until I'm not able to do anything, to keep us marching on-- something I believe we are all committed to.' The tree planting took place as ACTIF2025 enters its second day, bringing together high-level government officials, business leaders, and civil society from Africa and the Caribbean to deepen economic and cultural integration under the theme: 'Resilience and Transformation: Enhancing Africa-Caribbean Economic Cooperation in an Era of Global Uncertainty.' Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@ Follow us on: X: Facebook: LinkedIn: Instagram: 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.
Zawya
29-07-2025
- Business
- Zawya
Global Africa Commission Proposed as the fourth AfriCaribbean Trade and Investment Forum (ACTIF2025) Opens in Grenada
US $290M in deals signed, advancing infrastructure, tourism and trade across the Caribbean on Day 1 CARICOM leaders to recommend region's highest honour for Oramah's role in transforming ties US $250M Resilience Fund, CAPSS rollout, and feasibility of Caribbean EXIM Bank among key initiatives championed The fourth AfriCaribbean Trade and Investment Forum (ACTIF2025) opened today in St. George's under the theme 'Resilience and Transformation: Enhancing Africa-Caribbean Economic Cooperation in an Era of Global Uncertainty.' In a passionate keynote address, Prof. Benedict Oramah, outgoing President and Chairman of the Board of Directors of Afreximbank, declared the region's readiness to shift from slogans to systems, unveiling a slate of tangible milestones that signal the deepening of Africa-Caribbean economic and cultural integration. 'In under four years, we've ratified the Partnership Agreement in 11 CARICOM countries, providing the Bank a solid legal foundation to operate, support, and invest in their economies,' said Oramah. This, he acknowledged, represents a 'sovereign declaration, that the CARICOM States see in Africa, not just its past, but also its future.' These bold initiatives, shared by President Oramah during his address, demonstrate Afreximbank's commitment to transforming Afri-Caribbean cooperation from aspiration into action: Caribbean EXIM Bank: Feasibility studies are underway for a regional EXIM Bank co-created with the CARICOM Secretariat to unlock industrial development and trade. $250M Growth, Resilience, and Sustainability Fund (GRSF): A new blended finance mechanism to support climate adaptation and development. Afreximbank's Fund for Export Development in Africa (FEDA) will manage the fund, while concessional financing will be raised jointly with the CARICOM Development Fund. CAPSS Launch (Caribbean Payment&Settlement System): Modelled after Africa's Pan African Payment and Settlement System (PAPSS), this digital platform will allow real-time payments across the Caribbean in local currencies, eliminating costly conversions and enabling the upcoming CAPSS Card. Creative&Cultural Investment: $24 million has been committed for a film production and training hub in the OECS through CANEX, while other investments have enabled designers and chefs from Guyana, Trinidad, Jamaica, and Barbados to feature globally. Artificial Intelligence Hub: A new AI and generative tech centre is being launched in partnership with the P.J. Patterson Institute at the University of the West Indies to place Afro-Caribbean talent at the centre of global innovation. The ACTIF2025 also serves as President Oramah's final address at the Forum, as he prepares to hand over leadership to Dr. George Elombi, Afreximbank's long-serving Executive Vice President nominated as incoming President by shareholders at the Bank's 32 nd Annual Meeting in Abuja in June 2025. 'At this critical moment in our collective history, I have no shred of doubt that he is the right person to lead us in the next phase of the Bank's journey. I am convinced that he will give the Bank's work in this region a renewed impetus,' he stated. Looking beyond the Forum, President Oramah urged the establishment of a sovereign Global Africa Commission to drive forward the long-term integration of Africa and the Caribbean. He proposed that the Commission be jointly supported by Afreximbank, the CARICOM Secretariat, and the African Union, and tasked with advancing the trade, cultural, education, and creative agenda of the growing pan-African alliance. 'What we have done so far is prove the concept, we now need to institutionalise it,' Oramah said. 'We should consider creating a Commission that becomes fully responsible for delivering on the Africa-Caribbean and broader Global Africa initiative… This move will give more focus to the initiative, reduce the administrative burden on Afreximbank and create an environment for innovation.' In closing, President Oramah declared 'In America, America is first. In Europe, Europe is first. In China, China is first. We are the only ones who put ourselves last,' noting that it is time that Africa changes this posture. Meanwhile, Hon. Dickon Mitchell, Prime Minister of Grenada praised the vision and leadership of President Benedict Oramah, describing his presidency as a turning point in the Africa-Caribbean relations. Recognising the strategy, integrity and relentless drive employed, PM Mitchell, stated that President Oramah carved out a space for 'our regions to trade, collaborate, and thrive'. 'In the annals of history, you will go down as a pioneer for African people everywhere,' the Caribbean leader declared. Prime Minister Mitchell announced a recommendation by the region's leaders to confer the region's highest honour to President Oramah; the Order of the Caribbean Community. Building on Oramah's keynote call to institutionalise the Global Africa Initiative through the creation of a permanent Commission, Prime Minister Mitchell voiced full support. His message was punctuated by a deeply personal interaction with a young volunteer who asked why Grenada chose to host ACTIF2025; a question he said cut to the heart of the Forum's purpose. 'It's about money. It's about trade. It's about investment… our very survival, prosperity and dignity depends on the economic decisions we make today,' he stated. 'To that young man, I say: our political will to support Global Africa is unwavering. We are not starting from scratch. We are starting from strength. And we will not leave ACTIF2025 with another communiqué, we will leave here with a commitment to act, to build together, to trade together, to succeed together and rise together.' In a sobering, yet empowering close, he added 'no one is going to save Global Africa but Global Africa itself.' More than a dozen sitting and former Heads of State, and Government representatives from Africa and the Caribbean are attending ACTIF2025. Among them are: Hon. Mia Amor Mottley, Prime Minister of Barbados Hon. Roosevelt Skerrit, Prime Minister of Dominica Hon. Dr. Terrance Drew, Prime Minister of St. Kitts and Nevis Hon. Philip J. Pierre, Prime Minister of Saint Lucia H.E. Kassim Majaliwa, Prime Minister of Tanzania (representing President Samia Suluhu) H.E. Prudence Sebahizi, Minister of Trade and Industry, Rwanda (representing President Paul Kagame) The Most Hon. PJ Patterson, Former Prime Minister of Jamaica H.E Chief Olusegun Obasanjo, Former President, Federal Republic of Nigeria H.E Mahamadou Issoufou, Former President, Republic of Niger Meanwhile, five transformative deals totaling over US$290 million were signed on Day 1 of ACTIF2025, showcasing Afreximbank's deepening investment in trade-enabling infrastructure and economic development across the Caribbean. Among the signings was a US$50 million Heads of Terms with the Government of Saint Kitts and Nevis for an Education Construction and Rehabilitation Climate-Linked Facility, and a US$40 million public-private partnership with Gemini Integrated Commodities Trading Company Ltd. to develop a modern commercial port in Saint Kitts. In The Bahamas, two landmark transactions were formalised: a US$100 million Receivables Discounting Facility for the Bahamas Striping Group of Companies to rehabilitate over 200 miles of road infrastructure, and a US$40 million facility with Cat Island Infrastructure Company Ltd. for critical roadworks. Rounding out the signings was a US$61.25 million agreement with Speedbird House Ltd. to finance a 150-room Homewood Suites by Hilton in Bridgetown, Barbados—under Afreximbank's tourism-linked financing initiative, CONTOUR. ACTIF2025 continues through 30 July, with panel discussions, business matchmaking sessions, cultural showcases, and deal signings that reflect the Forum's commitment to moving from rhetoric to results. More than 1,700 people registered to attend ACTIF2025, reflecting the highest level of interest recorded across all four editions. Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@ Follow us on: X: Facebook: LinkedIn: Instagram: 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.
Zawya
22-05-2025
- Business
- Zawya
Afreximbank Announces 2025 AfriCaribbean Trade and Investment Forum to Accelerate Trade, Investment and Economic Growth
African Export-Import Bank (Afreximbank) ( in partnership with the Government of Grenada, is pleased to announce that the fourth edition of the AfriCaribbean Trade and Investment Forum (ACTIF2025) will be held in St. George's, Grenada, from 28 to 29 July 2025 under the theme: 'Resilience and Transformation: Enhancing Africa-Caribbean Economic Cooperation in an Era of Global Uncertainty.' The ACTIF2025 is Afreximbank's flagship initiative to drive commercial, economic and cultural ties between Africa and the Caribbean. ACTIF will build on the momentum of the previous three Forums and further promote trade and investment potential between the two regions. The International Trade Centre (ITC) estimates that AfriCaribbean trade could reach USD$1.8 billion by 2028. This growth is possible due to the crucial role of public and private partners and channelling investment into multiple sectors, including minerals and metals, processed foods, and transportation. Connecting opportunity with capital and market information can positively impact the economies of Africa and the CARICOM region. The Prime Minister of Grenada, H.E. Dickon Mitchell, said: 'ACTIF is a clarion call for unity, enterprise and a reimagined global role for our people. 'United in spirit in the pursuit of economic prosperity and mutual respect — the AfriCaribbean Trade and Investment Forum brings our shared vision for African-Caribbean unity to life through economic transformation, trade expansion and investment cooperation.' Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said: 'In today's turbulent global economic environment, it is more urgent than ever for Africa and the Caribbean to strengthen their economic ties. Despite deep historical and cultural bonds, our regions continue to trade less than 1% of their exports with each other — a stark reminder of untapped potential. ACTIF was established to change that. 'Through strategic partnerships, enhanced logistics, and greater access to capital, we are laying the foundations for a resilient transatlantic economic corridor that can drive inclusive growth, job creation, and sustainable development on both sides. ACTIF2025 is not merely a forum for business — it is a platform for rewriting the future of Afri-Caribbean economic relations, grounded in solidarity, shared values, and a common vision of prosperity.' He further noted that the groundbreaking of the Afreximbank African Trade Centre (AATC) in Bridgetown, Barbados, on 27 March marked a significant milestone in the Bank's long-term commitment to the region. 'The AATC will be a gateway for Africa-Caribbean trade and investment,' he said, 'offering a home for African businesses in the Caribbean and opening doors for Caribbean entrepreneurs to Africa. I urge all ACTIF stakeholders to seize this moment to transform vision into action.' ACTIF2025 is expected to welcome about a thousand delegates, including Heads of State, senior government officials, private sector leaders, development finance institutions, and Diaspora investors from across Africa, the Caribbean, and beyond. Stakeholders across public and private sectors, including Small and Medium Enterprises (SMEs), multilateral institutions, investors and entrepreneurs, are invited to register and attend so that they can explore trade, investment and networking opportunities, obtain information about doing business in the Caribbean and Africa and contribute to building a resilient and prosperous Africa-Caribbean trade corridor. The Forum will spotlight key sectors such as agribusiness, energy, infrastructure development, logistics, creative industries, tourism, health, manufacturing, and financial services, promoting regional value chains and facilitating trade and investment to unlock these opportunities. The 2024 edition of ACTIF, held under the auspices of the Prime Minister of The Bahamas, The Honourable Philip Davis, was a resounding success. It resulted in over 15 deals and Memoranda of Understanding signed valued at over US$4 billion. ACTIF2025 in Grenada will build on this success to achieve greater commercial and economic linkages through deeper AfriCaribbean collaboration and actionable results. Participants can look forward to business to business (B2B) and Business to Government (B2G) meetings, policy dialogues, sector-focused panels, investment showcases, gain access to financing facilities, high-level panel discussions, exhibitions, business network session, and explore trade and investment opportunities. To register and learn more, please visit: Distributed by APO Group on behalf of Afreximbank. Media Contact: Vincent Musumba Communications and Events Manager (Media Relations) Email: press@ About the AfriCaribbean Trade and Investment Forum (ACTIF): The Africa-Caribbean Trade and Investment Forum (ACTIF) is a premier platform aimed at fostering trade, investment, and cultural exchange between Africa and the Caribbean. Held in collaboration with regional bodies such as the Caribbean Community, The African Union and the African Continental Free Trade Area, ACTIF has facilitated dialogue, partnerships, and actionable frameworks that have bolstered commercial and investment ties between the two regions. Largely catalysed by the first-ever Heads of State and Government Summit of the Caribbean Community and Africa held on 7 September 2021, the AfriCaribbean Trade and Investment Forum (ACTIF) is a key strategic initiative towards institutionalising the engagement between both regions' private and public sectors to advance trade and investment relations. The inaugural edition of the AfriCaribbean Trade and Investment Forum was held in Bridgetown, Barbados, from 1 - 3 September 2022, the second edition was held in Georgetown, Guyana, from 30 – 31 October 2023, and the third edition was held jointly with the 31 st Afreximbank Annual Meetings in Nassau, The Bahamas, from 12 – 14 June 2024. 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 (Baa1), 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.
