Monday, 19 May 2014
Africa’s economic transformation to dominate at Afreximbank’s 21st Annual General Meeting
Media Contact: Obi Emekekwue (email@example.com; Tel. +202-2456-4238)
Cairo, 19 May 2014 – Africa’s economic transformation will take the centre stage as the African Export-Import Bank (Afreximbank) holds its 21st Annual General Meeting of Shareholders, and related activities, in the Gabonese Capital, Libreville, from 3 to 8 June, according to a programme of events released by the Bank.
Afreximbank said in Cairo today that, in addition to the Annual General Meeting of Shareholders, the gathering would feature meetings and seminars of the Advisory Group on Trade Finance and Export Development in Africa, a trade exhibition, and an investment forum, as well as meetings of various committees of the Bank’s Board of Directors.
The Advisory Group Meeting will focus on the theme, “From Asian tigers to African Simbas: Potentials and processes for Africa’s economic transformation” while the seminars will dwell on “Transforming Africa’s agriculture for global markets” and on “Tourism development.”
The discussions will include an examination of the benefits of economic transformation and a look at the development of industrial clusters and supply chains to support diversification and sustainable development of exports in Africa.
In addition to high-level representatives of the Gabonese government, a number of African ministers and political leaders, central bank governors, and experts in African trade finance are expected to participate in the activities. Also attending will be representatives of major banking institutions from across the continent.
Afreximbank, with an authorised capital of $5 billion, has four classes of shareholders. Class “A” is comprised of African governments, African central banks and African regional and sub-regional institutions while Class “B” consists of African private investors and African financial institutions.
Class "C" is made up of non-African financial institutions, export credit agencies and private investors. The last group, Class “D”, was created in December 2012 as a category under which any person or entity can be allotted shares.
The Annual General Meeting of Shareholders is held each year to take stock of the Bank's activities during the reporting year.