Benedict Oramah Emerges African Export-Import Bank President.

Benedict Oramah, President of the African Export-Import Bank, Afreximbank.

A Nigerian, Benedict Oramah, has been appointed president of the African Export-Import Bank, Afreximbank.

Afreximbank is the continental multilateral trade finance institution and Mr. Oramah is the third president to serve the bank since it was established in 1993.

He holds a doctorate degree in Agricultural Economics and replaces the former President, Jean-Louis Ekra, who had been the bank's chief executive officer since 2005.

Christopher Edordu was the pioneer president of the bank.

The appointment of the Nigerian was one of the key decisions taken during the bank's 22nd Annual General Meeting of shareholders which took place in Lusaka, Republic of Zambia.

Before his elevation, Mr. Oramah served the bank as Executive Vice President, Business Development and Corporate Banking.

He joined the bank as a pioneer staff in 1994 and rose from the position of chief analyst to senior director, planning and business development department in 2007.

He previously served as Assistant Manager (Research) at the Nigerian Export-Import Bank from 1992 to 1994.

While accepting the appointment, Mr. Oramah said shareholders should leave the AGM confident that they had made the right decision, explaining, "I may not be a shareholder of your bank, but my interests in the bank are fully aligned with yours".

"I have invested most of my adult life in your bank. I made important contributions in the establishment and development of the bank so I have a vested interest in its survival and growth," he said.

"Your bank exposed me to the world; and above all, about two years ago, your bank saved my life. So there can be no sacrifice too great for me to make for your bank. I step into the new role with courage and loyalty founded on these facts."

He promised to continue to pursue the policy of inclusiveness started by his predecessors and to support all shareholders, big and small, pointing out that he would use the lessons of history to shape the vision for tomorrow.

Mr. Oramah completed his advanced education at the Obafemi Awolowo University, Ile-Ife, where he obtained a M.Sc. and a Ph.D. in Agricultural Economics in 1987 and 1991 respectively.

He received a B.Sc. also in agricultural economics from the University of Ibadan in 1983.

His latest appointment followed a recommendation by the bank's board of directors.