An Assembly of Leaders in Abuja
From June 25 to 28, 2025, Nigeria’s capital Abuja will play host to over 6,000 delegates at Afreximbank’s 32nd Annual General Assembly (AGA). Esteemed attendees, including more than thirty heads of state and multiple economic leaders, will gather to deliberate on the pressing economic issues facing Africa. With a theme focusing on ‘Building the Future on Decades of Resilience’, the assembly underscores the vital role of intra-African trade, industrialization, and sustainable investment in shaping the continent’s economic landscape.
Transformative Economic Goals
The AGA will delve into Afreximbank’s ambitious agenda, which includes a $10 billion Adjustment Fund aimed at supporting the African Continental Free Trade Area (AfCFTA). This initiative is targeted at facilitating market access for Africa’s small and medium enterprises, which constitute approximately 90% of the continent’s businesses. Further, the Pan-African Payment and Settlement System (PAPSS), operational in more than 15 countries, is critical for streamlining intra-continental trade transactions.
Voices of Influence
Benedict Oramah, the President of Afreximbank, has articulated a vision where ‘Africa’s transformation will be spearheaded by Africans through deliberate investments, strategic partnerships, and robust intra-African trade and investment.’ His sentiments reflect a broader aspiration to shift the narrative of Africa on the global stage—from a region often overlooked to one respected for its strategic economic prowess.
Economic Integration as a Priority
The focus on intra-African trade is not merely aspirational. In 2024, intra-African trade accounted for approximately 18% of the continent’s total trade—a figure that pales in comparison to other regions. The 2025 AGA aims to double this share by 2030, marking a significant shift towards a more integrated African economy. Investments of $50 billion in direct foreign aid by 2035, particularly in renewable energy and infrastructure, are vital for fostering sustainable growth.
Charting the Economic Course for Africa
As Africa seeks to capture a larger share of global economic activity, the outcomes of the AGA will significantly influence the continent’s economic trajectory. The strategic initiatives discussed and potentially implemented will be crucial in setting the tone for Africa’s economic integration and development over the coming decades. The world will be watching how Africa consolidates its recent gains and positions itself for further growth.