The second year of the COVID-19 pandemic, 2021 was fraught with uncertainties and challenges affecting both Afreximbank’s global and African operating environments, stemming from continued weaknesses in global demand, supply chain disruptions, and volatility in financial an commodity markets. As the Bank was concluding the implementation of its fifth Strategic Plan (IMPACT 2021: Africa Transformed), covering 2017–21, it responded to these rising challenges by intensifying its operations and activities in support of its member states. Through effective deployment and the scaling up of its existing programmes and facilities and the launch of new, innovative initiatives and products, the Bank emerged as a leading player in the continent’s post-pandemic economic recovery efforts.
During the year, the Bank’s operations and activities were undertaken in line with the approved work programme and budgets as well as with its mandate and medium-term strategic priorities. They were also undertaken in line with the best global practices in governance, risk management, and financial reporting.