President & Chairman of the Board of Directors, Afreximbank, Office of the President

About Afreximbank

African Export-Import Bank (Afreximbank or the Bank), is a Pan-African multilateral financial institution that finances, facilitates and promotes intra-and extra-African trade across Africa and Caribbean Community (CARICOM) countries. For over 30 years, the Bank has been deploying innovative instruments to deliver solutions that support the transformation of the structure of trade, while accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa and recently, Caribbean Community states.

Recruitment of President & Chairman of the Board of Directors – Cairo, Egypt

Afreximbank seeks to appoint a new President to succeed the serving President, whose term of office expires in September 2025.

The Headquarters of the Bank is in Cairo, Egypt, where the President sits. With 6 regional offices across the African continent and in the Caribbean and employing about 750 people directly and indirectly, the Bank in 2023 reported total assets and guarantees of about USD 37 billion. Over the past 5 years, Afreximbank has evolved into a group entity comprising the Bank, its impact equity fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is also a General Partner, alongside the African Continental Free Trade Area Secretariat in the AFCFTA Adjustment Fund based in Kigali, Rwanda. More information on the Bank is available on its website: www.afreximbank.com

The President is both Chairman of the Board of Directors and Chief Executive Officer (CEO). With a 5-year mandate (renewable once), the President is responsible for the day-to-day management of the Bank, developing and implementing the organization’s business strategies, its relationship with outside parties and a variety of stakeholders, including African and Caribbean Community governments and their agencies, international financial institutions, the private sector, non-African governments and other global institutions. He/she leads a highly skilled multi-disciplinary and multi-cultural team of professionals to develop the organization’s policies and programmes for the achievement of its objectives.

Requirements for the Role of President & Chairman of the Board of Directors

Applicants must demonstrate capability for long term strategic vision, extensive experience in international banking, international trade and trade policies, trade finance, trade-related initiatives and trade development banking, in the context of developing markets, as well as in the management of commercially-oriented financial institutions at, or near, CEO level. Applicants must also demonstrate required leadership and communication skills, and knowledge of the operations and governance of multilateral financial institutions. They must be fluent in either English or French, with a working knowledge of the other. Knowledge of the Bank’s other official languages, Arabic and/or Portuguese is useful.

Applicants must have a good knowledge of Africa and the Caribbean Community’s financial systems and economies and be able to command the respect of senior government officials, global bankers and related stakeholders. They would also be required to demonstrate a sharp awareness of the challenges faced in the drive to transform the African continent and re-integrate it with its diaspora through expanding their trade and socio-economic relationships. Applicants must also be able to demonstrate a bold and courageous vision for taking the mandate of the Bank and its subsidiaries to the next level and demonstrate proven execution capabilities.

ELIGIBILITY CRITERIA

Applicants will be expected to be at most 60 years of age and have:

1. At least 25 years relevant experience in international banking
2. Experience in African and Caribbean Community (CARICOM) trade finance, project finance and financial service markets
3. Extensive knowledge of the African/CARICOM economic context, including their economic history
4. Strong business and political networks across Africa and its diaspora
5. Experience in other aspects of managing a systemic world class financial group including; business origination, negotiation, governance, asset and liability management, risk management and people management and demonstrated competence in overseeing management of Bank operations
6. Experience in leading a skilled executive team in a highly complex and dynamic group environment
7. Ability to motivate vision, innovation and drive execution in a complex environment
8. Demonstrated knowledge of the operations of multilateral financial institutions and their legal Foundations
9. Strong analytical, interpersonal, communication and presentation skills
10. Nationality of one the Bank’s member states (see www.afreximbank.com for details). Furthermore, the Afreximbank Charter excludes applicants who either possess dual citizenship, where one of the two citizenships is of a non-African state; are nationals of the State where the Headquarters of the Bank is situated (Egypt); or those who are of the same nationality as the sitting President (currently Nigeria).

REWARD & BENEFITS

The successful candidate will be offered an internationally competitive, tax-free US Dollar based compensation package with very attractive benefits commensurate with the role of a CEO of a leading financial institution with global stature.

APPLICATION DETAILS

Afreximbank retained the services of Egon Zehnder for this search. Applicants are requested to send a detailed CV, cover letter, and references to CEOAfreximbank@egonzehnder.com

Applications must arrive by email no later than midnight CET on February 14, 2025. Egon Zehnder will enter further correspondence only with shortlisted applicants. 

Please note that applicants are not nominated or sponsored by a member state of the Bank or by a shareholder. All must apply in their individual capacities. The appointment will be made by shareholders on the recommendation of the Board of Directors.