Dr. Benedict Oramah Advocates for Africa's Economic Independence

Dr. Benedict Oramah, the immediate past President of the African Export-Import Bank (Afreximbank), called for African countries to intensify efforts towards achieving economic independence through industrialization, deeper intra-African trade, and strategic capital deployment. Speaking in an interview on the sidelines of the International Monetary Fund (IMF)/World Bank Annual Meetings in Bangkok, Thailand, he stated that political independence alone is insufficient without the capacity to produce goods and create jobs.

Oramah urged stakeholders, including governments and financial institutions, to view themselves as fighters for Africa's economic freedom. He noted that Africa's trade with external partners is disproportionately high compared to intra-African trade, which only accounted for about $170 billion to $200 billion, despite the continent's potential to support between $1 trillion and $1.4 trillion in trade.

Oramah, who recently completed his tenure at Afreximbank, has established Marob Strategies to continue contributing to Africa's development.