Congolese President Confers National Honors on Afreximbank President and Executive Vice President

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Prof. Benedict Okey Oramah President & Chairman of Afreximbank and Dr. George Elombi Executive Vice President, Governance, Legal & Corporate Services at the Presidency with H.E. Denis Sassou Nguesso

Brazzaville, 03 October 2023: – H.E. President Denis Sassou Nguesso of the Republic of Congo conferred one of the country’s most prestigious national honours, the Officer of the Congolese Order of Merit, on Prof. Benedict Okey Oramah, President & Chairman of the Board of the African Export-Import Bank (Afreximbank), and Dr. George Elombi, the Executive Vice President, Governance, Legal and Corporate Services.

Conferring the honours in his capacity as Grand Master of the National Orders at the decoration ceremony, President Nguesso told the audience that President Oramah and Dr. Elombi were being honoured for services rendered to the Congolese nation.

The ceremony featured the reading of the decree of appointment by President Nguesso followed by the official presentation of the decoration medals to Prof. Oramah and Dr. Elombi.

Witnessing the ceremony were Mr. Bruno Jean Richard Itoua, the Congolese Minister for Oil & Gas, and Mr. Ludovic Ngasé, Minister for Budget, Public Accounts and Public Portfolio.

Afreximbank has been an active supporter of the development of the Congolese economy and has disbursed an aggregate of US$1.4 billion to entities operating in the finance, oil and gas and the medical services sectors.

Recently, the Bank also signed an agreement to provide a US$300 million facility to Trident OGX Congo in a transaction expected to raise the Republic of Congo’s crude oil production by an estimated 30 per cent.

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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 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 industrialization 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 is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of 2022, Afreximbank’s total assets and guarantees stood at over US$31 billion, and its shareholder funds amounted to US$5.2 billion. The Bank disbursed more than US$86 billion between 2016 and 2022. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”).

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