Afreximbank touching many lives –Oramah

Managing Director, Afreximbank has said that the ongoing Depository offer of the Afreximbank, which has been launched in Nigeria, is in continuation of the bank’s earnings growth opportunities and developmental support to Nigeria.

Speaking to Daily Times Nigeria in an interview in Lagos, Afreximbank Managing Director, Mr. Benedict Oramah said that during the era of forex difficulties in the country 2015 and 2016, the bank was on hand to render support to many financial institutions; and has continued to render support to support diverse developmental initiatives in the country, spanning through health, hospitality, manufacturing, agriculture amongst others.

Oramah said that the depository receipt is not to curb poverty, but Afreximbank has been committed to curbing poverty in Africa, as well as sustaining survival of business organizations and infrastructural development projects.

The instrument, he said, is to equip the bank to be more prepared to deliver on its mandate, adding that Afreximbank has touched many lives in Nigeria.

“There is no bank in this country that has not benefited from Afreximbank facilities. When the economy was in difficulty in2015/2016, Afreximbank was on hand disbursing about $2billion to stabilize the foreign exchange market; to help banks pay backlog of trade debts that matured at that time so that there will be no default”
According to him, Afreximbak is the only multilateral bank that supported power privatization in Nigeria, as well as financed many leading hotel developments in the country.

“If we raise money from the Depository Receipt, we will be empowered to do more of the things that we want to do here, like technology quality development center development in Ogun state.”

Bonny Amadi