By Charles Pemu 
ABUJA – The African Export-Import Bank (Afreximbank) recently concluded its 2025 Annual Meetings in Abuja, a gathering marked by a celebratory tone and a cascade of impressive figures. Vice President Kashim Shettima lauded the bank’s evolution into a “continental development anchor,” revealing it has mobilized over $100 billion across Africa and disbursed a staggering $52 billion within Nigeria alone since its 1993 inception. While these numbers paint a picture of undeniable growth and “decades of resilience,” a critical question quietly lingers: Are these grand pronouncements and the triumphant narrative subtly obscuring deeper accountability gaps and the true, granular impact of such vast sums across the diverse continent?
Afreximbank President Professor Benedict Oramah celebrated mobilizing over $250 billion into Africa over 32 years, empowering neglected industries and serving as a “lifeline during crises.” From the African Trade Centre in Abuja to the African Medical Centre of Excellence (reportedly saving $1 billion in medical tourism annually), and quality assurance centers in Kaduna and Ogun, the projects highlighted by VP Shettima certainly demonstrate a tangible footprint. CBN Governor Olayemi Cardoso further praised the bank for growing its capital assets from $750 million to a colossal $40 billion.
However, amidst the accolades, the sheer scale of these operations, coupled with the bank’s self-proclaimed “defiance against doubt” and “institution-building in the face of resistance,” begs for closer scrutiny. While billions are disbursed, the mechanisms for truly transparent tracking of every dollar, ensuring it reaches intended beneficiaries and achieves optimal, equitable impact, are rarely detailed with the same vigor. Is the narrative of “resilience” serving as a convenient umbrella, deflecting deeper probes into potential inefficiencies or unintended consequences of managing such immense financial flows across a continent riddled with governance challenges?
Dr. Yemi Kale, Afreximbank’s Group Chief Economist, noted Africa’s “relatively limited integration into global economic systems” as a “buffer” against global shocks like trade wars. While presented as a strength, this subtle admission could also inadvertently highlight a persistent struggle for deeper economic integration and competitiveness that the bank’s massive disbursements are meant to overcome. Are these “lifelines” merely patching up symptoms, rather than fundamentally transforming the systemic issues that make Africa vulnerable in the first place?
As Afreximbank positions itself as a “catalyst for change” and a “true continental engine of innovation,” the public, policymakers, and stakeholders are left to reconcile the bank’s celebratory figures with the continent’s enduring development challenges. The focus on “resilience,” while inspiring, necessitates an equally robust commitment to unwavering transparency and meticulous accountability to ensure that the billions mobilized are genuinely translating into widespread, sustainable prosperity, and not inadvertently obscuring any less-than-ideal outcomes behind impressive statistics.
