Former Afreximbank President Oramah Urges Africa to Turn Global Shocks into Opportunities

At the 20th AELEX Annual Lecture in Lagos, former Afreximbank President Benedict Oramah urged African countries to use geopolitical upheaval and technological advances to accelerate economic transformation. He criticized reliance on foreign capital, currencies and raw-material exports, noting that between $350 billion and $500 billion in African foreign-exchange reserves are held outside the continent. Oramah called for stronger African financial institutions, more local-currency financing, expanded PAPSS and effective implementation of the AfCFTA, alongside investment in energy, data centres and critical-mineral processing. Event chair Bola Adesola stressed preparation for disruptions, while AELEX founding partner Fubara Anga urged state and local governments to take a greater role in attracting investment.