Afreximbank Calls for African Industrialization
Analysis based on 8 articles · First reported Jun 17, 2025 · Last updated Jul 03, 2026
The focus on African industrialization and trade, supported by African Export-Import Bank's financing and strong credit ratings, is expected to positively impact African markets by fostering economic growth, job creation, and reducing commodity dependence. Increased intra-African trade facilitated by African Export-Import Bank will also create new market opportunities for businesses across the continent.
Dr. George Elombi, President and Chairman of the Board of Directors of African Export-Import Bank, emphasized that Africa's economic sovereignty hinges on industrialization, processing its own resources, and securing fair access to capital. He stated that Africa must move away from a development model based on raw material extraction and export, towards value addition, manufacturing, and regional trade. African Export-Import Bank is actively facilitating this transition through debt financing, its equity vehicle Fund for Export Development in Africa, and partnerships with industrial partners like Arise Integrated Industrial Platforms, to develop industrial parks and special economic zones. Dr. Elombi also highlighted the importance of fair credit assessments for African institutions, citing African Export-Import Bank's recent investment-grade rating from S&P Global Ratings as an example. He stressed that industrialization requires goods to move freely across African markets, and African Export-Import Bank will continue to support trade-enabling infrastructure and the African Continental Free Trade Area implementation. The overall goal is to create value, retain it in Africa, and build practical economic sovereignty.
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