Abuja, 15 July 2018: – Multiple awards winner Davido, the singer of some of today’s greatest Afrobeats hits, gave a live performance in Abuja on Thursday night to mark the 25th Anniversary of the African Export-import bank (Afreximbank).
The performance, preceded by a show from Cabo Verde’s Mindelo Carnival, closed the second of the four days of Afreximbank’s Annual Meetings and 25th Anniversary celebrations which ran from 11 to 14 July.
Dr. Benedict Oramah, President of Afreximbank, said: “Last night’s memorable performance by Davido really got the rapt crowd off their feet and joining in as he regaled everyone with many of his biggest hits. Davido celebrated his own 25th birthday less than a year ago so it’s fitting that he was performing in celebration of Afreximbank’s own 25th Anniversary. Both Davido and Afreximbank have made significant achievements during their 25 years and have had significant impact on many millions of Africans.”
Millions of people are familiar with Davido’s hits which include ‘Dami Duro’, ‘Back When’, ‘Gobe’, ‘Skelewu’ and ‘Gallardo’.
Afreximbank is a critical player in the expansion and diversification of African trade, with key achievements during its 25 years including:
- Approval more than $60 billion in credit facilities to African businesses since 1994
- Leveraging billions of dollars of international funds into Africa through syndication
- Using African banks for its Line of Credit programme to purvey lending and guarantee facilities to small and medium sized trading entities
- Promoting Africa’s export manufacturing and diversifying exports away from commodities by providing financing and advisory services, through its Export Development Finance Programme, to facilitate the transfer of technology and market access to a broad range of export markets
- Using its Africa Cocoa Initiative to support the development of new cocoa plantations to boost the continent’s supply of cocoa beans, facilitate increases in cocoa sector productivity, promote value addition through the processing of cocoa beans into industrial raw materials (cocoa butter, liquor and cocoa cake) to feed manufacturing plants in Africa and elsewhere
- Developing innovative products to provide financial solutions for the development and improvement of the continent’s infrastructure
- Providing support for trade and lines of credit across the continent during the global recession when many international banks turned their backs on Africa,
- Arranging a $2 billion facility for Kenya Airways to enable the airline purchase 20 aircraft
Afreximbank’s current initiatives include the establishment of a medical Centre of Excellence in Nigeria in partnership with King’s College Hospital, London; and the promotion of industrialisation across Africa through the development of industrial parks and special economic zones under a $1 billion programme in partnership with the Export-Import Bank of China.
More than 100 speakers, including Heads of State, ministers, central bank governors, director generals of international trade organisations, business leaders, African and global trade development experts, and academics, will be speaking during the four days of the Afreximbank Annual Meetings and 25th Anniversary Celebrations.
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Media Contact: Obi Emekekwue (oemekekwue@afreximbank.com; Tel. +202-2456-4238)
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About Afreximbank: The African Export-Import Bank (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 organization, and the Charter, which governs its corporate structure and operations. Since 1994, it has approved about $60 billion in credit facilities for African businesses, including about $8.5 billion in 2017. Afreximbank had total assets of $11.9 billion as at 31 December 2017 and is rated BBB+ (GCR), Baa1 (Moody’s), and BBB– (Fitch). The Bank is headquartered in Cairo. For more information, visit:www.afreximbank.com