Dr. Benedict Okey Oramah is a renowned economist and banker who currently serves as the President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank). Born on July 24, 1961, in Ahoada, Nigeria, Dr. Oramah was elected President of Afreximbank in 2015 and re-elected for a second term in 2020.
Okey Oramah who hails from Nnokwa, Idemili South Local Government Area of Anambra State holds a Bachelor’s degree in Agricultural Economics from the University of Ibadan and a Master’s and Ph.D. in Agricultural Economics from Obafemi Awolowo University.
Oramah began his professional career at the Nigerian Export-Import Bank (NEXIM) in 1992 as an Assistant Manager.
In March 1994, he joined African Export-Import Bank as one of the original employees. He has served in various roles in Afreximbank included serving as Chief Analyst, Assistant Director in 1998, Deputy Director in 2001, and substantive Director of the Planning and Business Development Department in 2004. He was promoted to Senior Director in 2007 and appointed Executive Vice President, Business Development and Corporate Banking in 2008.
As President of Afreximbank, Dr. Oramah sits on a $40 Billion Organisation, bigger than 10 most capitalized Nigerian Banks put together. He personally transformed the bank from a $5 billion to $40 billion financial institution.
Under his leadership, Afreximbank has mobilized and disbursed over $250 billion for Africa’s growth and development, including more than $52 billion to Nigeria.
He has received several awards, including “African Banker of the Year” in 2017 and 2022, and “Business Leader of the Year” at the CNBC Africa Business Leader Awards in 2023.
Under his leadership,Afreximbank has invested in various sectors, including energy, agriculture, and infrastructure.
Afreximbank Financed the Dangote refinery. In 2017, it signed agreement to provide financing facilities to the tune of $1billion for the construction of Dangote refinery.
Some other big conglomerates that received loan from the bank include
First Bank received $150 million from Afreximbank’s Pandemic Trade Impact Mitigation Facility (PATIMFA) to support businesses impacted by COVID-19, including those importing relevant equipment and those rehabilitating hospitals.
Zenith bank received a $200 million disbursement to cushion the impact of COVID-19.
Afreximbank arranged a $650 million financing facility for Oando’s acquisition of NAOC’s stake in a Nigerian joint venture.
Fidelity bank received an enhanced financing facility, increasing from $125 million to $180 million.
Afreximbank participated in a EUR 2 billion syndicated facility for the Bank of Industry.
Heritage Bank received a $272 million facility that enabled the bank to conclude the acquisition of Enterprise Bank.
Afreximbank partnered with Sterling Bank to offer Supply Chain Finance in Nigeria.
Heirs Holdings -$ 100Million
Overall,Afreximbank has disbursed over $52 billion into various sectors in Nigeria over the past decade, with $19 billion going to the Nigerian financial services sector.
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