By Kelechi Deca
Over the decades, the question on why Africa has failed to build a strong link with its diaspora community across the world has been on the lips of many. This has become even more imperative as the evolving new world order tends to prioritise individualism against multilateralism. With 54 countries, and a population of about 1.4 billion, Africa is the youngest continent thus needs to find ways to turn its demographic burden into a dividend, and position itself to benefit from some of the ongoing alignments in trade and cooperation across the world. Unless Africa opens the vast windows of opportunities available within its markets and connecting to its huge diaspora community, the dream of achieving economic independence as envisaged by Kwame Nkrumah would amount to naught. This is why this week’s gathering in Africa is crucially important.
The 32nd Annual Meetings (AAM2025) of African Export-Import Bank (Afreximbank) scheduled for Abuja this week would lay the final groundwork in the long awaited cooperation between Africa, and the African diaspora, especially the Caribbean, The event which promises to bring together an influential coalition of global, African and CARICOM leaders in Abuja, Nigeria from 25–27 June 2025 is said to be the largest gathering of its kind in the African calendar.
This high-level forum which will focus on advancing trade, investment, and innovation across the continent, with Heads of State, Prime Ministers, top business executives, academics and acclaimed academics confirmed to speak promises to provide the groundwork for the next step not only in the actualization of Africa’s trade corporation but bridging the link with Africa diaspora community especially the CARICOM nations of the Caribbean.
The event which has President Bola Ahmed Tinubu as chief host and former President Olusegun Obasanjo as patron of the day, will have Ambassador Albert Muchanga, African Union Commissioner for Economic Development, Tourism, Trade, Industry & Mining and other heads of state and governments as special dignitaries. They will be joined by ministers, central bank governors, investors, and industry leaders from Africa, the Caribbean, and beyond.
Held under the theme “Building the Future on Decades of Resilience”, AAM2025 will focus on accelerating trade opportunities, driving investment and fostering innovation. The President of Afreximbank Prof. Benedict Oramah said that the event “comes at a pivotal time for Africa. As the continent confronts global uncertainties, it is doing so with renewed resolve. Following the successful 31st edition held in The Bahamas last year, we are back on the African continent for this year’s meetings which are about catalysing practical action—building stronger institutions to strengthen trade integration and unlocking the full potential of African innovation.”
As someone who has followed the activities of Afreximbank for 25 years, and has attended over 20 annual meetings of the Bank, my expectation for the Abuja event is quite high against the backdrop of the recent events preceding the meeting.
The Abuja event is expected to deliver strong economic benefits, both in the short and long term.
The main anticipated impacts include the trade and investment mobilisation, policy and institutional advancement and strengthening South-South cooperation and trade flows.
By bringing together heads of state, ministers, leaders of trade institutions, policymakers and the private sector, the meetings will advance regional dialogue on several priorities: implementing the African Continental Free Trade Area (AfCFTA), enhancing cross-border payment systems to speed up regional transactions, strengthening Africa–Caribbean (CARICOM) economic ties through expanded trade, tourism, and joint ventures, and ensuring private sector participation in policy reforms. These discussions aim to reduce business costs, improve trade infrastructure, and deepen regional economic integration.
This is a very interesting and challenging year for Afreximbank as the institution has had to contend with a series of internal and external issues in recent times especially the negative rating from one of the world’s acclaimed agencies, and the planned debt rescheduling by Ghana and Zambia. However, the full backing of The African Union (AU) Commission for the Bank has been significant as the AU lends its full support to Afreximbank’s efforts to promote intra-African trade and development. Specifically, the AU Commission backs the role the Bank has so far played in the African Continental Free Trade Area (AfCFTA) and initiatives like the Pan-African Payment and Settlement System (PAPSS). Afreximbank is also a key partner in the AU’s broader agenda for economic integration and transformation.
Afreximbank is a major player in supporting the implementation of the AfCFTA, including through the development of the PAPSS, which was adopted by the AU as the payment and settlement platform for the agreement. The AU Commission and Afreximbank have forged a strategic partnership to advance initiatives like the Common African Agro-Parks (CAAPs).
Afreximbank’s initiatives, like the African Trade Centre in Abuja, are seen as crucial for advancing intra-African trade and fostering economic integration. The Bank equally provides significant financing for trade and development across Africa, including support for infrastructure projects, manufacturing, and other key sectors.
Platforms like the Abuja meetings influence policy, shift narratives, and inspire reforms that foster innovation, inclusion, and competitiveness. This year’s meetings will also mark the launch of several new initiatives. AAM2025 is expected to welcome thousands of participants and media from more than 80 countries. It is expected that the Abuja event would facilitate significant trade and investment deals, including Memoranda of Understanding (MoUs) and public-private partnerships. The meetings are expected to catalyse billions of dollars in funding over the next 5–10 years for key strategic sectors.
It is going to be an awesome gathering as the speaker lineup includes renowned economists and industry leaders including Professor Jeffrey Sachs, Director, Centre for Sustainable Development, Columbia University and Dr. Kishore Mahbubani, Distinguished Fellow, Asia Research Institute, National University of Singapore.
Africa’s foremost business innovation leaders such as Mr. Aliko Dangote, President and Chief Executive Officer of Dangote Group and Mr. Tony Elumelu, Chairman of Heirs Holdings, will also participate. The speaker lineup further includes Professor Ghulam Mufti of King’s College London, former Prime Minister of Jamaica P.J. Patterson, and other influential figures. With world-renowned economists, scholars, and entrepreneurs participating, this event will shape thought leadership on Africa’s development path.
Kelechi Deca, a journalist and public affairs analyst writes from Lagos
