Cairo: President Abdel Fattah El-Sisi welcomed the President and Chairman of the African Export-Import Bank (Afreximbank), Dr. Benedict Oramah, and the newly elected President, Dr. George Elombi, at Al-Ittihadiya Palace. Dr. Elombi is set to lead the bank until 2030, following Dr. Oramah's successful term which ends in October 2025. The meeting also included the Governor of the Central Bank of Egypt, Mr. Hassan Abdullah.

According to State Information Service Egypt, President El-Sisi congratulated Dr. Elombi on his upcoming term and recognized Dr. Oramah's contributions over the past decade. He expressed appreciation for Afreximbank's role in enhancing intra-African trade and Africa's global trade share. Dr. Elombi shared his vision for furthering the bank's development and strengthening its influence in Africa.

Dr. Oramah highlighted key achievements during his tenure, including the launch of the African Continental Free Trade Area (AFCFTA), and assured that the bank would continue its dynamic role under Dr. Elombi's leadership. Afreximbank officials thanked Egypt for its support and collaboration, facilitated by President El-Sisi's leadership.

President El-Sisi emphasized Afreximbank's critical role in bolstering African countries' manufacturing capabilities, export development, and economic performance. He noted the benefits of the African Continental Free Trade Agreement in achieving the objectives of the 2030 Agenda for Sustainable Development and Agenda 2063 for Africa's development. Afreximbank officials discussed initiatives to increase intra-African trade, support manufacturing and exports, and expand financing for commercial enterprises.

The President addressed Egypt's comprehensive development goals, focusing on export growth, industry localization, and attracting foreign investment. He explored opportunities for collaboration with Afreximbank on significant development projects in Egypt.

The Central Bank of Egypt's Governor, Mr. Hassan Abdullah, praised Afreximbank's support for key development projects in Egypt and highlighted the strategic partnership between the Central Bank and Afreximbank, noting that the Central Bank of Egypt is the largest contributor to Afreximbank's capital.

Afreximbank officials expressed eagerness to enhance cooperation with Egypt across various sectors. They commended Egypt's economic growth, increased exports, and investment influx, attributed to the country's infrastructure projects and development initiatives.