The African Export-Import Bank (Afreximbank) on Monday said that economic transformation in Africa would take the centre stage at its 21st Annual General Meeting (AGM) in Libreville, Gabon.
In a statement in Lagos, the bank said the meeting of shareholders which would hold from June 3 to June 8, will also feature seminars on trade finance, export development and meetings of various committees of the bank’s board of directors.
It said that the advisory group meeting would focus on the theme: “From Asian tigers to African Simbas: Potentials and processes for Africa’s economic transformation”. The seminars will dwell on: ‘Transforming Africa’s agriculture for global markets and tourism development.’
The bank said that a number of African ministers and political leaders, central bank governors and experts in African trade finance were expected at the occasion.
It would be recalled that Afreximbank, with an authorised capital of five billion dollars, has four classes of shareholders.
Class “A” is comprised of African governments, African central banks and African regional and sub-regional institutions, while Class “B” consists of African private investors and African financial institutions.
Class “C” is made up of non-African financial institutions, export credit agencies and private investors. The Class “D” was created in December 2012 as a category under which any person or entity could be allotted shares.
Afreximbank is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade.
The bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors.
Its two basic constitutive documents are the Establishment Agreement which gives it the status of an international organisation, and the Charter which governs its corporate structure and operations.
Since 1994, Afreximbank has approved almost 30 billion dollars in credit facilities for African businesses, including about $3.5 billion in 2013.
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