By 
Top African financial leaders have issued a clarion call for stronger institutions, deeper regional integration, and bold reforms to insulate the continent from mounting global instability.
Speaking at the 32nd Afreximbank Annual Meeting (AAM) in Abuja, Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and Afreximbank Senior Executive Vice President, Denys Denya, stressed the urgency of African self-reliance in an era of economic fragmentation, heightened protectionism, and declining external support.
Delivering his keynote address, Cardoso hailed Afreximbank as a model of African resilience and innovation, describing it as a “convener of ambition and a symbol of African financial fortitude.”
Read more: Afreximbank warns of $100 billion trade finance gap hindering intra-African trade growth
“Resilience is not accidental—it is engineered,” said Cardoso.
He stated: “It takes strategic foresight, crisis preparedness, clear communication, and robust governance.”
He praised the Bank’s expansion from a modest capital base of $750 million in 1993 to over $40 billion in assets by end-2024, saying the growth reflects the continent’s increasing confidence in its own capabilities.
Cardoso also emphasized that institutional credibility and trust were key pillars of Nigeria’s ongoing economic reforms.
In support of greater diaspora engagement, Cardoso announced the launch of two new financial products—the Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account—intended to facilitate remittances and encourage diaspora-driven investment in Nigeria’s critical sectors.
Turning to the future, Cardoso urged African nations to accelerate implementation of the African Continental Free Trade Area (AfCFTA), diversify export markets, and build home-grown resilience through industrialisation and value addition.
“Afriexmbank has helped us dream big—now it is time to deliver big,” he said.
Cardoso said: “Let us commit to building the resilient institutions our people need so our economies can thrive and our continent may serve.”
Earlier, Mr. Denys Denya opened the 2025 AAM by urging African nations to seize control of their economic destiny amid an increasingly fractured global system.
“The certainties of the past—stability, predictable alliances, and open markets—are giving way to a new era of fragmentation and volatility,” Denya said.
He added, “This calls for Africa to look inward and harmonise its collective strength.”
Denya drew historical parallels between the current global economic shocks and the turbulent conditions that led to Afreximbank’s founding more than three decades ago.
He warned that today’s challenges, including global trade wars, geopolitical realignment, and aid withdrawal, demanded a renewed focus on institutional strength, regional solidarity, and political will.
The 2025 AAM, themed “Building the Future on Decades of Resilience,” aims to serve as a catalyst for fresh ideas, policy reforms, and partnerships that will reshape Africa’s development trajectory.
Denya highlighted the Bank’s pivotal role during the COVID-19 pandemic, the 2022 Ukraine crisis, and recent commodity price shocks, crediting its counter-cyclical financing model for helping countries weather external shocks.
“Our future must be built on the solid foundation of resilience, conviction, and unity,” Denya said.
“It is time to be deliberate about industrialisation and promoting value addition to Africa’s exports,” he said.
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