As leadership transitions at the African Export-Import Bank (Afreximbank), tributes have continued to pour in from business leaders and policymakers across the continent, honoring Professor Benedict Oramah, who recently concluded his tenure as President and Chairman of the Board of Directors.
Among those paying glowing tribute is Dr. Ainojie Alex Irune, Executive Director of Oando PLC and Managing Director of Oando Energy Resources, who lauded Prof. Oramah for his visionary leadership and lasting contribution to Africa’s economic self-determination.
In a heartfelt message shared on LinkedIn, Dr. Irune wrote that watching Prof. Oramah lead Afreximbank had been “a reminder that progress comes from those bold enough to rebalance the equation” of Africa’s growth story — one too often marked by resource extraction without industrial transformation.
“Under his leadership, Afreximbank became a catalyst for Africa’s economic independence,” Dr. Irune stated. “The Bank backed transformative initiatives like the Dangote Refinery, the Pan-African Payment and Settlement System (PAPSS), and the Africa Energy Bank — all designed to strengthen our ability to build and trade on our own terms.”
Catalyst for African Economic Independence
Since taking office in 2015, Prof. Oramah has been credited with redefining the mandate of Afreximbank — shifting the focus from mere trade financing to building industrial capacity and creating frameworks that empower African countries to trade with each other and the world from a position of strength.
Dr. Irune highlighted Afreximbank’s instrumental role in supporting Oando Plc’s growth and expansion, particularly in deepening indigenous participation in the energy sector.
“I’ve witnessed that conviction in action through Afreximbank’s support of Oando Plc,” Irune noted. “It enabled us to expand capacity and advance indigenous participation in the energy sector — proof that when African institutions believe in African enterprises, extraordinary progress follows.”
Building Africa’s Financial Sovereignty
Dr. Irune emphasized that Prof. Oramah’s greatest legacy lies not only in the projects Afreximbank financed, but in the philosophy he championed — one rooted in African self-reliance, patient capital, and innovation-driven growth.
“Beyond the numbers, what endures is the principle — a belief that Africa’s future must be built and financed from within,” he wrote. “He’s shown that development isn’t just about funding, but about securing patient capital, driving innovation, and having the conviction that Africans must be the architects of their own prosperity.”
Under Oramah’s stewardship, Afreximbank became a financial bulwark for African economies, especially during times of crisis — from commodity price shocks to the COVID-19 pandemic — deploying billions in trade and recovery facilities to ensure liquidity and stability across member states.
A Vision That Endures
As Afreximbank enters a new chapter under the leadership of Dr. George Elombi, Dr. Irune expressed optimism that the foundation laid by Prof. Oramah will continue to guide the Bank’s mission of continental transformation.
“As he passes the baton, I’m deeply grateful for his leadership and the example he’s set,” Irune said. “Professor Oramah proved that Africa can build itself — that when African capital meets African will, progress is inevitable.”
He concluded his tribute with a note of confidence in the new administration:
“Wishing Dr. George Elombi godspeed as he takes the helm. May his tenure deepen the foundation laid and carry forward the vision of an Africa that fuels its own growth.”
Afreximbank’s Enduring Legacy
The African Export-Import Bank, established in 1993, has evolved into one of Africa’s most influential financial institutions. Through innovative financing, intra-African trade promotion, and the creation of strategic programs such as PAPSS and the African Medical Centre of Excellence, the Bank has consistently advanced the vision of a self-sufficient, industrialized, and economically integrated Africa.
Prof. Oramah’s decade-long presidency saw Afreximbank’s assets and capital base grow exponentially, its footprint expand into the Caribbean, and its mission evolve to encompass trade, investment, and economic resilience — a legacy now entrusted to his successor, Dr. George Elombi, the Bank’s new President and Chairman of the Board.
As Dr. Irune and other African leaders continue to celebrate Oramah’s legacy, one message resonates: Africa’s progress depends on Africans financing and believing in their own future.
