Afreximbank has disbursed a total of $50bn in Nigeria over the past decade, making significant contributions to the country’s key sectors, including energy, manufacturing, healthcare, transport, and financial services.

The President and Chairman of the Board of Directors of Afreximbank, Prof. Benedict Oramah, disclosed this during the commissioning of the Afreximbank Africa Trade Centre in Abuja on Thursday.

Speaking at the event, Oramah highlighted the bank’s commitment to supporting Nigeria’s development, pointing out that these investments have been crucial in expanding the non-oil sectors of the economy. He noted that $19bn of the total amount disbursed had been invested in Nigeria’s financial services sector, which has grown significantly over the years.

“Over the last decade alone, total disbursements into Nigeria amounted to about $50bn, spreading across vital sectors of energy, infrastructure, manufacturing, healthcare, transport, and financial services,” Oramah said.

The AATC Abuja, which is the first of its kind, is a key component of Afreximbank’s broader strategy to create a network of trade centres across Africa and the Caribbean.

The $120m facility, which began in November 2021 and was completed within its 41 months, is designed to promote trade and investment by facilitating regional integration and enhancing connectivity between Africa and the Caribbean.

Source: Punchng