Afreximbank has multiplied its assets eightfold in ten years, confirming its role as a pillar of African financing. Through innovative instruments such as the PAPSS, the bank promotes economic integration and is aiming for an asset portfolio of $250 billion by 2035.
In Abuja, Nigeria’s federal capital, Afreximbank was hailed as a key player in the continent’s economic transformation. Nigerian President Bola Ahmed Tinubu paid tribute to Professor Benedict Oramah for his ten years at the helm of the pan-African institution. He praised his visionary leadership, which has enabled the implementation of structuring projects for the benefit of African and Caribbean nations. Among these initiatives, the Pan-African Payment and Settlement System (PAPSS) was presented as a major step towards African financial sovereignty.
The approval of the implementation of an African Credit System, PAPSS, is an important step toward financial independence. Thank you, Oramah. » PAPSS allows for increased trade in local currencies, reduces reliance on foreign exchange, and promotes economic stability. I urge all Africans and African nations to accept PAPSS, as deeper financial integration strengthens our collective resilience.
BOLA TINUBU, President of the Republic of Nigeria
These tributes build on a decade of impressive growth for the bank. Between 2015 and 2025, its total assets increased eightfold, reaching $43.5 billion. Net income jumped by 700% to $1 billion, and shareholders’ equity increased by 650% to $7.5 billion. This performance reflects Afreximbank’s commitment to supporting intra-African trade and financing member states’ development priorities, in line with the AfCFTA agenda.
The Pan-African Payments and Settlement System, championed by Afreximbank in partnership with the AFCFTA Secretariat and the African Union Commission, integrates all 42 existing payment systems in Africa, enabling real-time payments in local currencies. PAPSS eliminates the need for currency conversion through external intermediaries, saving billions in transaction costs for Africa. The system is supported by a $3 billion Afreximbank Clearing and Settlement Fund. PAPSS has integrated approximately 160 commercial banks and now operates in 16 countries, with many more under development and integration.
BENEDICT ORAMAH, Former Chairman of Afreximbank
Beyond African borders, the institution is also strengthening ties with the diaspora and partners in the South. A case in point is its commitment to CARICOM, with financing of $1.6 billion in Suriname and $1 billion in Guyana. Afreximbank is thus affirming its ambition to become a strategic lever for South-South cooperation, and to aim for a portfolio of assets worth $250 billion by 2035, consolidating its role as a driving force for inclusive and sustainable development, from Africa to the Caribbean.
