Cardoso calls for strategic cohesion among African countries as Afreximbank hits $40bn in capital assets

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has called for strategic cohesion among African states amid the African Export-Import Bank’s (Afreximbank) over $40 billion capital asset expansion as of 2024.

Cardoso made the call on Wednesday while delivering his remarks at the Afreximbank 2025 Annual Meetings, themed “BUILDING THE FUTURE ON DECADES OF RESILIENCE.”

The ongoing meeting attracted representatives, including heads of state, ministers, leaders of trade institutions, policymakers, private sector representatives, and stakeholders.

Cardoso congratulated the Bank on its 32nd anniversary and commended Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, along with the entire team, for their unwavering commitment to transforming the continent’s economic landscape.

He stressed that the bank has emerged as more than an average financial institution; it has become a trusted partner, a convener of ambition, and a catalyst for change, shaping strategy, enabling execution, and elevating African agency across the globe.

He highlighted that the bank’s $40 billion capital assets in 2024 reflect its prudent financial stewardship, among other factors.
“From an initial capital base of $750 million—a relatively small amount by international standards—the bank has expanded its capital assets to over $40 billion as of the end of last year.

“This remarkable trajectory reflects both prudent financial stewardship and the continent’s growing confidence in its capabilities.

“It is also a testament to the expanding coalition of stakeholders, spanning 51 African countries and a mix of public and private investors who have placed their trust in Afreximbank,” he said.