Nairobi, May 30, 2024 – The African Export-Import Bank (Afreximbank) has clinched top honors at the African Banker Awards for the second consecutive year, securing both the ‘Bank of the Year’ and ‘Deal of the Year (Infrastructure)’ accolades. The prestigious awards were unveiled at a gala ceremony in Nairobi, graced by over 300 eminent figures in banking and finance from across the continent.
Afreximbank’s triumph was hailed by organizers for its transformative impact on the banking landscape, characterized by reaching new customers, offering innovative services, fostering inclusivity, leveraging new technologies, and bolstering financial sector growth.
The ‘Bank of the Year’ title reaffirms Afreximbank’s stellar financial performance, showcasing remarkable strength and resilience evidenced in its fiscal year results ending December 31, 2023, which surpassed previous benchmarks.
In the ‘Deal of the Year – Infrastructure’ category, Afreximbank’s USD 155 million investment in Great Horn Investments Holding (GHIH) took center stage. This funding underpins a suite of development initiatives within Djibouti’s Damerjog Industrial Development Free Trade Zone, announced following discussions between Afreximbank President Prof. Benedict Oramah and Djibouti President Omar Guelleh during the 2023 African Union Summit.
Speaking at the ceremony, Prof. Benedict Oramah, President and Chairman of the Board of Directors at Afreximbank, expressed profound gratitude for the dual accolades, attributing them to the dedication of Afreximbank’s staff, customers, partners, and the Alliance for African Multilateral Financial Institutions. He underscored the vital role of such institutions in addressing Africa’s development needs, spanning infrastructure, trade, SME lending, and beyond.
Of particular significance is the ‘Deal of the Year – Infrastructure’ award, marking Afreximbank’s inaugural collaboration with GHIH and the Djibouti government. This partnership aims to propel Djibouti towards its vision of becoming a regional trans-shipment and logistics hub, bolstering intra-African trade and facilitating access to freight services for neighboring economies like Ethiopia and Somalia.
The awarded facility is pivotal to Djibouti’s economic trajectory, with funds earmarked for the finalization of the Damerjog Oil Jetty and the construction of a 150,000m³ oil tank farm, among other associated projects. These initiatives align with Djibouti’s strategic ambition of evolving into a ‘regional transport hub’ by 2035.
Now in its 18th edition, the African Banker Awards continue to celebrate the exceptional contributions of individuals and institutions shaping Africa’s banking sector landscape, reflecting a commitment to fostering sustainable growth and development across the continent.
