CAIRO, 12 June. - (ANA) - At his investiture in Cairo, Afreximbank President, Dr George Elombi, signalled a decisive shift in the Bank’s strategic direction, declaring that Africa can no longer afford to build its future on the export of raw commodities.

 

That shift is now being framed around a deliberate value-retention agenda, prioritising domestic minerals processing, expanded industrial production and stronger regional value chains under the AfCFTA.

 

Dr Elombi also highlighted the importance of scaling trade-enabling infrastructure to connect production hubs to markets more efficiently, while accelerating digital integration through initiatives such as PAPSS and the exploration of a pan-African digital currency. Together, these priorities reflect a broader ambition to reshape Africa’s trade architecture, strengthen economic sovereignty and drive sustainable, value-added growth across the continent.

 

Dr Elombi underscored that this vision builds on a strong institutional foundation, with Afreximbank’s assets having grown to over $49 billion and shareholders contributing more than $8.6 billion in recent capital injections despite global economic pressures. Looking ahead, he pointed to an ambitious target of expanding the Bank’s balance sheet to between $250 billion and $350 billion, reflecting both the scale of Africa’s opportunity and the urgency of action. - (ANA) -

 

AB/ANA/12 June 2026 - - -