Latest news with #BenedictOramah
Zawya
23-05-2025
- Business
- Zawya
Foundations and Evolutions of Structured Trade Finance, Second Edition By Professor Benedict O. Oramah
Structured Trade Finance (STF) is a highly specialised area of trade finance that has evolved directly from practice. As it grows and becomes more complex in an increasingly risk-based regulatory environment, there is a need for more detailed guidance on this subject. Now in its second edition, Foundations and Evolutions of Structured Trade Finance will provide you with exactly this. Written by Dr Benedict O. Oramah, president of Afreximbank and a key figure in the evolution of STF, this book delves into the philosophical foundations and risks associated with trade finance. It offers step-by-step guidance on structuring deals, explores the scope of coverage beyond commodities, and examines real-life case studies to draw valuable lessons. The new edition has been revised and updated, featuring brand new sections on reserve-based lending, supply chain finance, and new technologies for implementing structured trade finance. Publication information Author: Dr Benedict O. Oramah Publication date: May 2025 Format: Softback Pages: 421 Price: £195 ISBN: 9781837230822 For more information about this title, visit: Distributed by APO Group on behalf of Afreximbank. Notes to editors: To obtain a review copy of Foundations and Evolutions of Structured Trade Finance, Second Edition, please contact: Sian O'Neill (Managing Director) Globe Law and Business Ltd Phone number: 020 3745 4771 Email address: sian@ Website: About Globe Law and Business: Globe Law and Business was established in 2005. From the very beginning, we set out to create legal books that are sufficiently high level to be of real use to the experienced professional, yet still accessible and easy to navigate. Most of our authors are drawn from Magic Circle and other top commercial firms, both in the United Kingdom and internationally. Our titles are carefully produced, with the utmost attention paid to editorial, design, and production processes. In 2021, we were pleased to announce the start of a new chapter for Globe Law and Business following the acquisition of law books under the imprint Ark Publishing. We are also very pleased to announce the launch of our online content platform, Globe Law Online. This allows for easy search and networked access across firms, with key collections including the Law Firm Management Collection. Details of all titles included can be found at
Zawya
20-05-2025
- Business
- Zawya
Professor Benedict Oramah honoured with Chad's prestigious ‘Commander of the National Order of Chad' award
The President of the Republic of Chad, His Excellency Mahamat Idriss Déby Itno, has conferred on President and Chairman of the Board of Directors at African Export-Import Bank (Afreximbank) ( Professor Benedict Oramah, the prestigious national honours award of Commander by appointing him to the National Order of Chad, under the Ministry of Finance, Budget, Economy, Planning and International Cooperation, for his`1yyyyh outstanding contributions to the Chadian and African economies. The rank of Commander (Commandeur) is a high distinction within this order, reflecting significant and sustained achievements while the National Order of Chad is a prestigious state honour awarded by the Republic of Chad to recognize exceptional service or contributions to the nation. Reflecting on Chad's 2022 political transition, President Idriss Derby Itno, expressed profound gratitude to Prof. Oramah and Afreximbank for standing with the country. He noted, 'When other international lenders fled at the height of the unfortunate socio-political conflicts, Afreximbank stood firmly behind our country, continuing to push vital investments that now underpin the rapid socioeconomic recovery of our nation.' While acknowledging the award, Professor Oramah said: 'This honour is not just a recognition of my efforts, but a testament to the collective resolve of Afreximbank and its partners to transform Chad's economy and empower its people. While I am deeply humbled by this honour, it is a call to duty. It was a reminder to the Bank to do even more to accelerate the structural transformation of the Chadian and the wider African economies.' Chad became a member state of Afreximbank during the 36th African Union Summit where Afreximbank pledged to support strategic development projects in agriculture and livestock, two key pillars of Chad's economy, to drive sustainable growth and economic diversification. Afreximbank reaffirms its unwavering commitment to advancing Chad's economic development through targeted investments, trade facilitation, and institutional capacity-building, ensuring shared prosperity and resilience in the years ahead. Distributed by APO Group on behalf of Afreximbank. 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 (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.
Broadcast Pro
14-05-2025
- Business
- Broadcast Pro
Afreximbank and FEDA launch $1bn Africa Film Fund
The fund aims to boost production and global distribution of quality African films and TV, enhancing the continent's cultural impact worldwide. The African Export-Import Bank (Afreximbank), through its impact investment subsidiary, the Fund for Export-Development in Africa (FEDA), has announced the establishment of the Africa Film Fund, a landmark initiative set to reshape the future of filmmaking and the broader creative sector across the African continent. Launched under the Bank's Creative Africa Nexus (CANEX) programme, the fund represents a transformative commitment of up to $1bn to stimulate the growth of Africa's film and audiovisual industries. Professor Benedict Oramah, President of Afreximbank and Chairman of the Boards of both Afreximbank and FEDA, emphasised the strategic importance of this initiative, describing film as a foundational pillar of the CANEX programme. He noted that while Africa's creative sector has expanded rapidly in recent years, it continues to face persistent challenges, including limited funding, difficulty scaling productions, and restricted access to international markets. The Africa Film Fund, he explained, aims to close these gaps and enable African creators to achieve global reach. Oramah added that the Fund will work in tandem with complementary efforts such as the CANEX Shorts Awards to elevate diverse African narratives. These initiatives, he said, reflect Afreximbank's broader vision to harness the power of culture as an economic engine and a tool for global influence. The Africa Film Fund was first proposed during the CANEX Weekend 2024 in Algiers, where Afreximbank pledged to create a private equity vehicle via FEDA to support film production and distribution across the continent. The Fund will serve as a critical lever to boost both the quality and reach of African film and television projects, helping to export Global Africa's cultural identity while drawing essential investment into the sector. According to the UNESCO Institute for Statistics, the African film and audiovisual industry already contributes an estimated $bn in annual revenue and employs more than 5m people. Yet the sector faces notable structural obstacles, including limited access to production and post-production facilities, a dearth of exhibition venues—with fewer than 2,000 cinema screens continent-wide—and inadequate availability of digital distribution platforms. The Africa Film Fund is designed to address these issues comprehensively, not only by providing capital but also by nurturing an enabling ecosystem for creators. Marlene Ngoyi, CEO of FEDA, highlighted the Fund's broader mission, stating that the initiative is about more than just financing—it's about empowering African talent, fostering cultural exchange, and driving sustainable economic transformation. She emphasised FEDA's commitment to ensuring that the Fund yields long-term, inclusive benefits across the creative landscape. Kanayo Awani, Executive Vice-President of Intra-African Trade and Export Development at Afreximbank, reinforced this sentiment, noting that the Fund offers African storytellers access to the tools, platforms, and visibility necessary to share their narratives on the global stage. For Awani, the creative economy is a strategic asset—one that contributes not only to cultural expression but also to youth empowerment, economic resilience, and regional integration. The announcement has drawn enthusiastic support from influential figures in the global entertainment industry. Viola Davis, EGOT-winning actress and co-founder of JVL Media LLC, praised the initiative for giving voice to Africa's rich storytelling tradition. 'African stories are deeply human and universally powerful,' Davis said. 'This Fund is an invitation to the world to see Africa through the lens of its own creators—bold, unfiltered, and rich in truth.' Boris Kodjoe, acclaimed actor and Managing Partner of FC Media Group, also expressed his excitement about the Fund, calling it the realisation of a long-held dream to produce global stories rooted in African experiences. Kodjoe welcomed the partnership with Afreximbank and FEDA as a vital step toward developing high-quality, internationally resonant content. With this bold investment in the future of African cinema, Afreximbank and FEDA are positioning the continent's creative industries at the centre of a new cultural and economic renaissance—one driven by authentic African voices and stories with universal appeal.
Daily News Egypt
13-05-2025
- Business
- Daily News Egypt
Afreximbank President Oramah calls for mindset shift for AfCFTA success
ABIDJAN – Benedict Oramah, President and Chairperson of the Board of Directors of the African Export-Import Bank (Afreximbank), stated that a change in mentality, particularly among middle and lower management, is crucial for the African Continental Free Trade Area (AfCFTA) agreement to gain momentum. He made these remarks during a panel discussion moderated by Nicholas Norbrook, Managing Editor of The Africa Report, titled 'Can Africa industrialise through trade – and on its own terms?' at the Africa CEO Forum 2025 in Abidjan. Oramah noted that despite a consensus on the AfCFTA at the leadership level across Africa, 'the middle and lower management don't share the same enthusiasm.' He emphasised that 'this has to change, and education will be important towards this goal.' During the discussion, Oramah also highlighted Afreximbank's growth under his presidency, stating that he managed to raise the bank's total assets and guarantees to $42bn, with $5bn to $12bn of assets being generated annually. Addressing the broader geopolitical landscape, Oramah acknowledged the current global environment, including the imposition of tariffs by figures like US President Trump, presents both opportunities and pitfalls. He suggested that such external pressures could serve as a catalyst that prompts Africa to act. 'It is indeed an opportunity that we begin to see as a catalyst. When one of these situations arises, you see that you are not prepared for it. All of us have to identify the opportunities and the challenges and position ourselves in a way that benefits Africa; basically, we are Africa, and I think Africa is in that situation.' He stressed the need for Africa to leverage its institutions and resources to move away from dependencies on aid and grants. 'To move beyond dependencies on aid and grants. And this is what our convention is, and I believe in it,' Oramah said. When questioned about the risk of African policymakers abandoning free trade ambitions due to trends like deindustrialisation in developed nations, Oramah argued against focusing on national economies in isolation. He pointed out the historical tactic of 'Divide and conquer,' resulting in 55 fragmented African markets. 'Fragmented, some of which we inherited,' he remarked, underscoring the need for integrated markets and resources. He suggested that a focuson national interests often leads to protectionist measures that ultimately hinder broader continental growth, noting that competition from outside Africa often stifles local industries. Regarding the implementation of the AfCFTA and whether the enthusiasm for such coordinated efforts persists, Oramah conceded, 'There is a little bit of hesitation, and we were observing. If you are going to address the situation, I said it's a kind of disconnect.' He attributed this, in part, to educational backgrounds, suggesting it's a 'natural' tendency for officials to prioritise their own country. 'So, to address that situation, I think the one that affects government is when you [focus on] your country, and that is the only thing that makes sense.' He emphasised the need to teach 'about the value of continental integration, not just what you have to do for your own nation.' On fostering collaboration between the public and private sectors, Oramah indicated that it requires effort to align their objectives, especially when public systems may perceive the private sector primarily as a source of tax revenue. Reflecting on his tenure and the bank's future, Oramah highlighted the diversification of Afreximbank's activities and the establishment of a constitutional framework to ensure its continued success. 'The bank was mandated to set up a constitutional framework. I am going to visit it to start. So it has all of that coming, and these are now beginning to diversify the [bank's activities],' he explained. He expressed a desire for his legacy to be defined by the strength of the institution and its people rather than personal achievements. 'I see it like this: somebody who builds a legacy, I don't want to see the legacy as what I did. It has got to be about the people I love [and who work for the institution].' He concluded by expressing confidence in the bank's future leadership and its commitment to 'responsiveness and integrity.'
Zawya
29-04-2025
- Business
- Zawya
Afreximbank rolls out $3bln credit line to cut Africa's fuel imports
African Export-Import Bank has rolled out a $3 billion revolving credit line that will enable African and Caribbean buyers to source petrol, diesel, jet fuel and other products from refineries on the continent more easily. The bank expects the facility to provide $10–14 billion of trade finance over its first three years and help chip away at the region's roughly $30 billion annual fuel import bill, it said. Both oil export- and import-dependent economies have been whipsawed this year by a sharp fall in crude prices and a jump in freight costs. Brent crude is down more than 20% since mid-January on supply dynamics and on fears that a global trade war will sap demand. Meanwhile, insurance costs for ships using the Red Sea have climbed again after renewed Houthi attacks prompted U.S. airstrikes on Yemen in March, adding hundreds of thousands of dollars to a typical fuel cargo. By shifting purchases to nearby refineries and locking in bank credit up-front, governments can limit the budget shock from such external swings. The Revolving Intra-African Oil Import Financing Programme is rooted in Afreximbank's recent push to boost regional processing capacity. The Cairo-based lender is the largest financier of Nigeria's 650,000-barrel-per-day Dangote refinery. It has also helped overhaul Nigeria's Port Harcourt oil complex and is arranging funding for plants in Angola and Ivory Coast too. These ventures could add around 1.3 million bpd of refining capacity. "The programme will galvanize efforts towards making the Gulf of Guinea a key refining hub," Afreximbank President Benedict Oramah said in a statement on Monday. Afreximbank will issue or confirm letters of credit, discount trade instruments and provide advances to energy ministries, state fuel importers and private traders that buy from African refineries. The credit line also serves as a practical test bed for the African Continental Free Trade Area, which seeks to deepen regional commerce and industrialisation. Afreximbank will also be a controlling shareholder of Atmin, a new trading house set up by former Shell oil traders to focus on African oil trading, two trading sources said. (Reporting by Colleen Goko; Editing by Kevin Liffey)
