Prof. Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), has delivered a powerful keynote at the opening of the 2025 Intra-African Trade Fair (IATF) in Algiers, Algeria, calling on African nations to take full control of their economic destiny by managing capital flows, investments, and trade, not merely their political borders.
Speaking under the theme “From Trade Fairs to Economic Empowerment: An Evolutionary Story,” Prof. Oramah framed the IATF as far more than a conventional trade exhibition. He described it as a strategic platform for Africa’s “second liberation,” a struggle for economic sovereignty that must complement the political independence achieved in the 1960s.
“Political independence without economic empowerment would be nothing but glorified servitude,” Oramah declared. “To transform from what the great Frantz Fanon referred to as the ‘wretched of the earth’ to owners and controllers of capital requires a courageous, disruptive move—another epic struggle, similar to the political battles of the 1960s, but fought in the economic arena.”
Prof. Oramah opened his remarks by acknowledging Algeria’s historic role in Africa’s liberation movements, citing key figures such as Ahmed Ben Bella, Larbi Ben M’hidi, Mohamed Khider, and Pan-Africanist Frantz Fanon. He commended the leadership of President Abdelmadjid Tebboune for hosting what he described as a “world-class series of events” that has drawn over 30,000 visitors and buyers alongside 2,000 exhibitors from across the globe.
“The fact that we have all been comfortably accommodated, taken care of, and going about our businesses easily is proof of the massive economic transformation Algeria has seen in recent years,” he noted. “It is proof to all of us as to what is possible when we take our destiny in our hands.”
Oramah stressed that economic empowerment must be pursued with the same courage and determination that fueled Africa’s liberation from colonial rule.
Highlighting the IATF’s impact since its inaugural edition in 2018, Prof. Oramah showcased projects that illustrate how African capital, innovation, and partnerships can transform the continent.
He cited Tanzania’s Rufiji Dam project, a $2.9 billion initiative initially shunned by international financiers. At IATF 2018, Tanzania secured the project with Egyptian contractors Arab Contractors and El-Sewedy Electric, supported by Afreximbank guarantees. Today, the project positions Tanzania to achieve energy self-sufficiency, industrial expansion, and enhanced flood management.
He also highlighted the success story of Ndubisi Arinze Eze, a Nigerian innovator who, through IATF 2018 and support from the Elumelu Foundation, connected with Singaporean investors.
Today, Eze designs drones that are revolutionizing agriculture across Africa, Southeast Asia, the Middle East, and South America.
At IATF 2021, the Comoros Islands signed a landmark deal with Egypt’s El-Sewedy Group to redevelop the Galawa Hotel into a five-star resort, reviving the nation’s historic tourism sector, while Afreximbank provided critical financing for the project.
The 2023 edition saw Afreximbank sign a $450 million global credit facility with ARISE Integrated Industrial Platforms (ARISE IIP), enabling the development and expansion of industrial parks in Malawi, Nigeria, Côte d’Ivoire, the Democratic Republic of Congo, Sierra Leone, and Chad.
The facility also provided working capital for commodity purchases, logistics, and trade-related operations.
In Mauritania, medium-sized enterprise SAMAPECHE used a €12 million deal signed during the 2023 fair to build a fish processing factory, expand storage capacity by 3,000 metric tonnes, and add three boats to its fleet, boosting exports by 65 percent.
“These good and encouraging things did not happen by chance,” Oramah explained. “The journey we began in 2017 was a strategic move drawn from Afreximbank’s Intra-African Trade Strategy, launched in 2016.”
Prof. Oramah stressed that true economic sovereignty requires Africans to control their capital flows, investments, and industrial growth rather than relying solely on foreign partners.
“…a revolution is sweeping across the African continent without bloodshed or conflict. The revolutionaries are of a different breed. Instead of being trained in military camps, the freedom fighters for this new battle are being trained in technical schools and universities; instead of fighting in trenches, this battle will be fought on factory floors and tech incubation centres; instead of guns, the battle will be fought with ideas, hard work, and investments.”
He urged governments, financial institutions, and private enterprises to channel domestic and diaspora capital into strategic sectors such as agro-processing, pharmaceuticals, automotive, and digital industries to drive sustainable growth.
Oramah emphasized the role of young innovators, noting that the IATF provides an ecosystem for Africa’s youth to transform ideas into global solutions:
“We believe that we have built a platform and supporting ecosystem where young Africans who may change the way the world reads, lives, interrelates, does business, and manages their health will one day emerge.”
Delivering his final IATF address as Afreximbank President, Prof. Oramah reflected on the vision, partnerships, and leadership that brought the fair to global prominence. He acknowledged former Nigerian President Olusegun Obasanjo, Chair of the IATF Advisory Council, for lending “enormous political weight and capital” to champion the initiative, alongside AU and AfCFTA leaders who ensured its continental legitimacy.
He thanked sponsors including Dangote Industries, El-Sewedy Electric, Oando Energy, Titan Trust Bank, and Sonangol, as well as host countries and participating firms. Special recognition went to Ms. Kanayo Awani, Executive Vice President of Afreximbank, described as “the pillar on which this project stood, stands, and will continue to stand.”
Oramah revealed that the IATF will soon become an independent institution, headquartered in Harare, Zimbabwe, with an initial capitalization of $28 million approved by Afreximbank.
“I congratulate the Government of Zimbabwe for putting up a very strong bid,” he said, urging African governments, corporations, and financial institutions to provide support for the initiative during its early phase.
With this move, Prof. Oramah leaves a legacy of transforming the IATF from a trade exhibition into a strategic arena for Africa’s economic liberation—a platform where control over capital, innovation, and trade becomes the true measure of freedom.
