First Bank of Nigeria (FBN) says it plans to host the first-ever China-Africa Interbank Association (CAIBA) forum in Nigeria to strengthen economic ties and investments between China and Africa.
Folake Ani-Mumuney, FBN’s group head of marketing and corporate communications, announced the event in a statement on Tuesday.
She said the discussions at the forum, scheduled for November 27 at the Fraiser Suites in Abuja, will be focused on ‘Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialisation and Economic Diversification’.
According to the statement, the CAIBA was established in 2018 to promote financial cooperation between China and Africa, enhancing partnerships in areas such as infrastructure development, international cooperation, and cultural exchange.
The FBN official said the association comprises 16 African banks, including FirstBank, China Development Bank (CDB), ABSA Bank, West African Development Bank, Central African States Development Bank, Eastern and Southern African Trade and Development Bank, Development Bank of South Africa, Ecobank, United Bank for Africa, and RawBank.
She said the initiative was driven by the need to address the funding gap in Africa for industrialisation, infrastructure, and poverty alleviation.
“The CAIBA Forum which will be co-hosted by China Development Bank, offers a unique opportunity for knowledge sharing, networking, and deal-making for the purpose of fostering win-win cooperation and promoting joint development among member-banks,” Ani-Mumuney said.
“Formerly convened only in Beijing, the Forum will now provide a unique platform to spotlight Nigeria’s pivotal role in the growing China-Africa economic relationship as the host country.
“Intrinsically woven into the fabric of society and with its extensive network across Sub-Saharan Africa, UK, and China, FirstBank provides unparalleled access to markets to facilitate trade and investment flows between China and Africa.
“Additionally, FirstBank’s expertise in financial inclusion, trade finance, corporate, and investment banking positions it as an ideal partner with China Development Bank with key strengths in inclusive and sustainable financial solutions in driving this important initiative to support Chinese and African businesses.”
On his part, Olusegun Alebiosu, the chief executive officer (CEO) of FirstBank Group, said the selection of FirstBank as the host is a testament to the firm’s 130-year history of empowering businesses and communities to thrive.
“We are honoured to host this pivotal event that fosters dialogue and collaboration between Chinese and African financial institutions. This forum reinforces our commitment to bridging the gap between Africa and China, catalysing economic growth and development.
“We are proud to support the continent’s economic transformation and growth and remain dedicated to exploring the partnership opportunities this forum will bring for the mutual benefit of China and Africa.” he said.
The statement said Vice President Kashim Shettima and Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN), are part of the Nigerian dignitaries expected at the event.
She said participants will have the chance to engage with government officials, business leaders, and financial experts from both regions.
“Expected guest speakers include His Excellency, the Vice President of Federal Republic of Nigeria, the Governor of the Central Bank of Nigeria, Minister of Trade, Industry & Investment, MD of China Development Bank, Federal Capital Territory (FCT) Minister, Governors of Lagos, Kano and Anambra States; Ambassadors from countries of CAIBA members, President and Chairman of the Board of Directors of the African Export–Import Bank, Representatives from the China-Africa Development Fund, and many industry leaders, policymakers, and experts to explore opportunities for cooperation and mutual growth,” she said.
“In addition, the CAIBA Forum will feature a plenary session which include Dr. Abiodun Adedipe- Founder & Chief Consultant BAA Consult, David Ofosu-Dorte- Senior Partner, AB & David Africa. A Pan-African Law Firm, Ugo (UgoDre) Obi-Chukwu – Publisher Nairametrics, Wole Adeniyi- CEO, Stanbic IBTC, Bamidele Abu- CEO, ABSA Nigeria Capital Markets, Mrs Kouassigan Dovi Eliane Khady- Head Financial Institutions West African Development Bank (BOAD).”
Alongside the plenary session, Ani-Mumuney said other highlights would include a trade exhibition, keynote speeches, and networking events that would explore the latest trends and opportunities in China-Africa cooperation.
