Due to the COVID-19 Pandemic, the African Export-Import Bank (Afreximbank) has made the decision to cancel the series of events which were set around its 27th Annual General Meeting and to hold the Shareholders’ meeting by correspondence.
Afreximbank President Prof. Benedict Oramah said that the decision to hold the Shareholders’ meeting by correspondence was made after careful consideration of all available options to ensure the Bank complies with its governance requirements.
Shareholders to Consider 27th Annual Meeting Resolutions by Correspondence
He announced that the seminars component of the 27th Annual Meetings, which were expected to be held from 10 to 13 June 2020 in Sharm El Sheikh, Egypt, were canceled in light of global mobility restrictions and the need to ensure social distancing imposed by the COVID-19 pandemic situation.
“Our priority is to guarantee the wellbeing and comfort of our shareholders and partners which requires that we comply with health and safety protocols put in place by our host country,” he said.
Prof. Oramah explained that these decisions, while difficult, were necessary and in line with the Bank’s proactive efforts to combat the pandemic.
“As a leading Pan African institution, Afreximbank’s response strategy has been to lead by example in taking proactive and timely measures,” he said.
“We remain fully dedicated to supporting efforts to mitigate the adverse impact of the COVID-19 pandemic on African economies and its people. We will continue to be at the frontline with bold initiatives, forging global partnerships towards mitigating the health and economic consequences of the COVID-19 pandemic on Africa,” concluded Afreximbank’s President.
Afreximbank Annual Meetings are among the Bank’s most prominent events. They are sought-after keenly by banking industry professionals, trade and trade finance practitioners and other parties involved in economic development from across Africa and beyond. They are also attended by business and political leaders and have been ranked among the most important gatherings of economic decision-makers in Africa.
Afreximbank’s next Annual General Meetings will take place in 2021. The Bank will communicate about the arrangements in due course.
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About Afreximbank: The African Export-Import Bank (Afreximbank) is Africa’s foremost multilateral financial institution devoted entirely to financing trade & trade development amongst African countries and between Africa and the rest of the world. Afreximbank was established in October 1993 by African governments, the African Development Bank, African private and institutional investors, and non-African institutional investors. In terms of its Establishment Agreement, Afreximbank has the status of an international organisation, and has a Charter, which governs its corporate structure and operations. Voted “African Banker of the Year” in 2019, Afreximbank approved more than $7 billion in financing facilities for African businesses in 2018. As at 31 December 2019, Afreximbank had total assets of USD$16 billion and is rated A- (GCR International scale), Baa1 (Moody’s), and BBB- (Fitch). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com