Shareholders of African Export-Import Bank (Afreximbank) has increased the bank’s authroised capital from $ 5 billion to $25 billion.
At the annual general meeting of the bank, shareholders voted to increase the authorised share capital in recognition of the rapid growth of the bank and in response to the challenges facing the African continent.
President, African Export-Import Bank (Afreximbank), Prof Benedict Oramah said the increased authorised share capital creates capacity for the bank to support the growth and development envisaged for the African continent in line with its mandate to promote the continent’s trade and affirm its relevance on the global stage.
“The overwhelming endorsement by shareholders of the historic increase of the bank from $5 billion to $25 billion reflected their firm belief and trust in the board and management of the bank and in the bank’s mission. This move gives us the necessary headroom to mobilise the capital we need to create a bank that serves all Africans,” Oramah said.
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