Afreximbank President Named Forbes Africa’s Person of the Year 2023

In a glitzy award ceremony held in Cairo, Egypt, the President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, emerged as the esteemed Forbes Africa Person of the Year for 2023. 

The December 2023/January 2024 edition of Forbes Africa was unveiled during this event, featuring Prof. Oramah as the cover personality and adding another illustrious chapter to his distinguished career.

The Prestigious Recognition

FORBES AFRICA’s Editorial and Research Teams’ Deliberation

The recognition, conferred upon Prof. Oramah, is not just a personal triumph but also a celebration of his tireless dedication to the continent’s development. Dr Rakesh Wahi, the Founder and Publisher of Forbes Africa, alongside Roberta Naicker, the Managing Director, underscored that the award acknowledges the achievements of outstanding Africans dedicated to the continent’s development.

A True Pan-Africanist

Renuka Methil’s Insights into Prof. Benedict Oramah

Renuka Methil, the Managing Editor of Forbes Africa, lauded Prof. Benedict Oramah as a true pan-Africanist, emphasizing his three-decade career at Afreximbank. In an interview, she highlighted his exceptional track record, boundless enthusiasm, passion, and significant contributions to Africa’s economic development.

Methil further delved into Oramah’s visionary leadership, citing the launch of the Pan-African Payment and Settlement System (PAPSS) as a historic cross-border payment initiative in local African currencies. She commended his resilience as a risk-taker and his articulate vision for a new united Africa.

The Journey to Forbes Africa Person of the Year

The FORBES AFRICA Person of The Year nominations involve submissions from the magazine’s editorial and research teams, including journalists from various African bureaus. After a comprehensive Africa-wide review of prominent contributors, Prof. Oramah emerged as the unanimous winner for 2023. This accolade adds Prof. Benedict Oramah to a roster of past recipients, including Sanusi Lamido Sanusi, former Governor of the Central Bank of Nigeria; Dr. James Mwangi, CEO of Equity Group; Dr. Akinwumi Adesina, President of the African Development Bank; Aliko Dangote, CEO of Dangote Group; Mohammed Dewji, President of MeTL Group; and Thuli Madonsela, former Public Protector of South Africa.

Beyond the Forbes Africa Recognition

President Oramah’s influence and leadership extend beyond the Forbes Africa Person of the Year award. In November, he was honored with the Zik Prize in Professional Leadership. This dual recognition further underscores his significant impact on the economic landscape of Africa.

Advancements and Initiatives in Economic Development

Under Prof. Benedict Oramah’s leadership, Afreximbank has been spearheading noteworthy projects, showcasing its commitment to fostering economic growth on the continent. One such initiative includes the recent signing of a $150 million trade finance facility agreement under the Ukraine Crisis Adjustment Trade Financing Programme for Africa with the United Bank for Africa.

A Visionary in Action

PAPSS – A Historic Project for Cross-Border Payments

Renuka Methil’s words aptly capture the essence of Prof. Oramah’s visionary leadership. The launch of the Pan-African Payment and Settlement System (PAPSS) stands as a testament to his commitment to revolutionizing cross-border payments in local African currencies. This historic project is set to reshape the financial landscape of the continent, marking Prof. Oramah as a resilient risk-taker with a clear vision for a new and united Africa.

Conclusion

In conclusion, Prof. Benedict Oramah’s recognition as Forbes Africa’s Person of the Year 2023 is a testament to his outstanding contributions to Africa’s development and his visionary leadership at Afreximbank. The accolade not only honors a remarkable individual but also shines a spotlight on the crucial role of economic leaders in shaping the continent’s future. As a true pan-Africanist, Prof. Oramah’s impact extends far beyond the boardrooms, leaving an indelible mark on the economic landscape of Africa. The Forbes Africa Person of the Year title is not just an award; it’s a celebration of resilience, vision, and unwavering dedication to the advancement of the African continent.

FAQs

1. What is the significance of being named Forbes Africa’s Person of the Year?

Being named Forbes Africa’s Person of the Year is a prestigious recognition that celebrates outstanding contributions to the continent’s development. It signifies the individual’s impactful leadership and dedication to advancing Africa’s economic landscape.

2. How did Prof. Benedict Oramah stand out among other prominent contributors for the 2023 award?

Prof. Oramah emerged as the unanimous winner after a comprehensive Africa-wide review by FORBES AFRICA’s editorial and research teams. His three-decade career at Afreximbank, visionary initiatives, and resilience as a risk-taker set him apart.

3. Can you elaborate on the Pan-African Payment and Settlement System (PAPSS) and its significance?

PAPSS, launched under Prof. Oramah’s leadership, is a historic cross-border payment initiative in local African currencies. It symbolizes a revolutionary step towards facilitating seamless transactions and fostering economic integration across the continent.

4. Besides the Forbes Africa Person of the Year, what other honors has President Oramah received recently?

In addition to the Forbes Africa accolade, Prof. Benedict Oramah was honored with the Zik Prize in Professional Leadership in November. This dual recognition underlines his exceptional leadership and impact on Africa’s economic development.

5. What noteworthy projects has Afreximbank undertaken under President Oramah’s leadership?

Afreximbank, led by Prof. Oramah, has spearheaded significant projects, including a $150 million trade finance facility agreement under the Ukraine Crisis Adjustment Trade Financing Programme for Africa. These initiatives showcase the bank’s commitment to fostering economic growth and stability on the continent.