Afreximbank has released updates regarding its board adjustments and capital expansion. Mrs. Lydia Shehu Jafiya has been elected to replace Mr. Aliyu Ahmed.
The African Export-Import Bank (Afreximbank) is delighted to announce the recent changes to its Board of Directors, which were approved during the 31st Annual General Meeting held in Nassau, The Bahamas.
Board Changes
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| Mrs. Lydia Shehu Jafiya |
Class “A”
Mrs. Lydia Shehu Jafiya was elected to replace Mr. Aliyu Ahmed. Mrs. Jafiya is the Permanent Secretary, Federal Ministry of Finance of the Federal Republic of Nigeria.
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| Mr. Amadou Hott |
Mr. Amadou Hott was elected to fill the position of the African Development Bank nominated board seat. Mr. Hott is currently the Special Envoy of the President of the African Development Bank (AfDB) Group on the Alliance for Green Infrastructure in Africa. Prior to this appointment, Mr. Hott was Senegal’s Minister for Economy, Planning and Cooperation.
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| Mr. Noël Mekulu Mvondo Akame |
Class “B”
Mr. Noël Mekulu Mvondo Akame was elected to replace Mr. Jean-Marie Mani. Mr. Mekulu Mvondo Akame is currently the Director General of the National Social Insurance Fund (CNPS) of Cameroon.
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| Ms. Yu Wen |
Class “C”
Ms. Yu Wen was elected to replace Ms Lili Yang. Ms. Yu Wen currently serves as the General Manager of the International Department at the Export-Import Bank of China (CEXIM).
Increase in Authorised Share Capital
The shareholders of the Bank approved an increase in the authorized share capital from US$5 billion to US$25 billion. This increase acknowledges the Bank's rapid growth in response to the challenges facing the African continent. It also provides the Bank with the capacity to support the growth and development envisioned for the African continent, aligning with its mandate to promote continental trade and establish its global relevance.
Commenting on these significant developments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank remarked:
“Afreximbank is most grateful to departing Board Members for their services to the Bank and Africa. They were for many years, part of a formidable team, that made significant contribution to the Bank’s vision for Africa, created alliances, and assisted Africa in navigating major headwinds. We welcome our new board members. We look forward to their support and insight as we strive to build a prosperous Global Africa. Together, we will restore dignity and pride to Africans around the world.”
He added: “the overwhelming endorsement by Shareholders of the historic increase of the Bank from US$5 billion to US$25 billion reflected their firm belief and trust in the Board and Management of the Bank and in the Bank’s mission. This move gives us the necessary headroom to mobilise the capital we need to create a bank that serves all Africans.”
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