Afreximbank, AfDB forge stronger alliance for continental growth

The heads of two of Africa’s foremost financial institutions affirmed a powerful commitment to enhanced collaboration. Dr. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), paid a courtesy visit to Dr. Sidi Ould Tah, President of the African Development Bank (AfDB) Group, at the AfDB’s headquarters in Abidjan.

The discussions centered on strengthening the strategic partnership between the two banks, with a unified focus on accelerating trade, industrialization, and sustainable economic growth across the African continent.

Dr. Elombi emphasized that the scale of Africa’s development challenges necessitates aligned efforts and pooled resources. “Africa’s development requires more than the efforts of individual institutions,” he stated, echoing his recent investiture remarks. “It demands alignment, cooperation and the pooling of resources to unlock solutions at scale. Our partnership with the African Development Bank remains one of immense strategic value.”

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The historical ties and shared priorities between the institutions provide a solid foundation for this renewed push. Both leaders signalled a clear intent to deepen joint initiatives that will promote industrial development, expand intra-African trade under the African Continental Free Trade Area (AfCFTA), and finance scalable cross-border infrastructure projects.

Dr. Ould Tah brings a unique perspective to the partnership, with his extensive experience in development finance and prior service on the Afreximbank Board. This background is seen as a significant asset for crafting effective, continent-wide financial solutions.

“We look forward to deepening joint initiatives that promote industrialisation, expand intra-African trade, and unlock scalable cross-border solutions for the continent,” Dr. Elombi added, highlighting the shared ambition under Dr. Ould Tah’s leadership.

The meeting underscores Afreximbank’s core strategy of placing strategic partnerships at the heart of its mission. Observers note that a strengthened alliance between these two development finance powerhouses could significantly enhance the availability of capital and technical expertise needed to tackle Africa’s most pressing economic challenges.