In a statement released on Monday in Lagos, the bank indicated that the forum, themed “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialisation, and Economic Diversification,” is scheduled for November 27.
Mr. Olusegun Alebiosu, the Chief Executive Officer of FirstBank of Nigeria Ltd., expressed the bank's pride in hosting the forum, which aims to promote dialogue and collaboration among financial institutions from both China and Africa.
“This forum underscores our dedication to bridging the divide between Africa and China, thereby stimulating economic growth and development,” he stated.
He noted that FirstBank's selection as the host reflects its rich heritage, extensive expertise in African markets, and a remarkable 130-year history of empowering businesses and communities.
“We are committed to supporting the continent’s economic transformation and growth, and we look forward to the partnership opportunities this forum will create for the mutual benefit of both China and Africa,” he added.
The CEO emphasized the bank's ongoing commitment to fostering trade, financial collaboration, and economic advancement.
Participants will have the opportunity to interact with government officials, business leaders, and financial experts from both regions.
Expected speakers include Vice President Kashim Shettima, Central Bank of Nigeria Governor Olayemi Cardoso, the Minister of Trade, Industry and Investment, the Minister of the Federal Capital Territory, and the Managing Director of China Development Bank, among others.
Additionally, Ms. Folake Ani-Mumuney, Group Head of Marketing and Corporate Communications at First Bank of Nigeria Ltd., remarked that the establishment of CAIBA represents a significant positive development for the economic landscape.
Ani-Mumuney emphasized that CAIBA represents a crucial step in enhancing financial collaboration between China and Africa, featuring 16 African banks, including FirstBank, alongside the China Development Bank (CDB).
Additional members include ABSA Bank, the West African Development Bank, the Central African States Development Bank, the Eastern and Southern African Trade and Development Bank, the Development Bank of South Africa, Ecobank, and the United Bank for Africa (UBA), among others.
She noted that the members are focused on strengthening partnerships across various domains, including infrastructure connectivity, international collaboration, and cultural exchange.
According to her, this initiative is motivated by the necessity to bridge the funding gap in Africa related to industrialization, infrastructure development, and poverty reduction.
She further mentioned that the CAIBA forum, which will be co-hosted by the China Development Bank, presents a valuable opportunity for knowledge exchange, networking, and deal-making, thereby fostering joint development among member banks.
Previously held exclusively in Beijing, the forum will now serve as a distinctive platform to highlight Nigeria’s essential role in the expanding economic relationship between China and Africa as the host nation.