Afreximbank 33rd Annual Meetings to focus on industrial processing and intra-African trade

Key points

• Afreximbank’s 33rd Annual Meetings (AAM2026) will take place in El Alamein, Egypt, from June 19 to June 24.
• The meetings will prioritize bankable projects in transport, logistics corridors, manufacturing, and energy systems.
• Afreximbank reported total assets of 49.4 billion dollars and a capital adequacy ratio of 23 per cent heading into the summit.
• Strategic focus areas include scaling the Pan-African Payment and Settlement System (PAPSS) and supporting mineral processing.
• The bank is urging Egyptian firms to expand into mineral processing across Africa to reduce reliance on external value addition.

Main Story

The African Export-Import Bank (Afreximbank) says the 33rd Annual Meetings (AAM2026) in El Alamein, Egypt, will prioritise concrete projects that deepen intra-African trade, drive industrialisation and strengthen the continent’s economic sovereignty.

Its President, Dr George Elombi, made this known while briefing African media on preparations for the meetings scheduled for June 19 to June 24. Elombi stated that the bank is shifting emphasis from building institutional foundations to executing bankable projects that can transform Africa’s production structure.

According to the President, logistics remains at the heart of the bank’s strategy, with significant investments directed toward transport corridors linking landlocked and coastal economies.

The AAM2026 will feature a “deal room” where African businesses can meet international investors to secure financing for digital trade infrastructure and manufacturing.

Elombi highlighted that the continent’s current mineral processing capacity is largely concentrated in South Africa and Morocco, calling for Egyptian companies to aggressively enter the sector with Afreximbank’s financial backing.

The Issues

• High transaction frictions and fragmented payment systems continue to hinder the full implementation of the African Continental Free Trade Area (AfCFTA).
• Inadequate logistics and transport infrastructure prevent landlocked economies from efficiently accessing regional markets, keeping trade costs high.
• Africa’s reliance on exporting raw minerals without local processing leaves the continent vulnerable to global commodity price volatility and limits job creation.

What’s Being Said

• “The message is simple. It is that Africa’s next phase of growth must be driven by intra-African trade, industrial processing, and amongst our countries,” said Dr George Elombi.
• “We have spent much in the last few decades building the institutional foundations for integration,” Elombi noted, signaling a shift to project execution.
• “We are asking for increased intra-African trade. That trade will not occur unless we improve the logistics for that to happen,” he emphasized.
• Regarding industrial expansion, Elombi said, “The level and the size of Egyptian companies here means that they should begin to look into that sector with sufficient aggression.”

What’s Next

• The June meetings in El Alamein are expected to yield several high-value deals in the transport and energy sectors through the summit’s dedicated deal room.
• Afreximbank will continue to roll out the Pan-African Payment and Settlement System (PAPSS) to more domestic commercial banks to reduce the cost of cross-border transactions.
• Over the next 12 to 24 months, the bank will prioritize financing for mineral processing facilities to replicate the successes seen in South Africa and Morocco across other regions.

Bottom Line

Afreximbank is moving from policy-making to project-financing, using its 49.4 billion dollar balance sheet to back the physical infrastructure and payment systems required to make intra-African trade a reality.

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