Directory of Economic, Commodity and Development Organizations - table of contents

AFRICAN EXPORT-IMPORT BANK (AFREXIMBANK) 


        
HEADQUARTERS

        

World Trade Center                                     Postal Add:  P.O. Box 404 Gezira
1191 Corniche El-Nil                                                  Cairo 11568
Cairo 11221                                            Telephone:   [20](2)578-0281 to 6
Egypt                                                  Facsimile:   [20](2)578-0276 to 9
                                                       E-Mail:      info@afreximbank.com
                                                       Internet:    www.afreximbank.com


          President and Chairman to the Board:   ...   Christopher C. EDORDU
          Executive Vice President:              ...   Jean-Louis EKRA
          Deputy Director, Operations:           ...   Kamal EL-KHESHEN
          Deputy Director, Projects
            and Administrative Services:         ...   Kabiné KOMARA
          Deputy Director, Finance:              ...   Philip KAMAU
          Deputy Director, Planning & Development:     B.O. ORAMAH
          Assistant Director, Credit:            ...   T.A.B. DISU
          Head, Board Secretariat:               ...   Getachew TELAHUN
          Chief Legal Officer:                   ...   F. RINGO
          




        
LANGUAGES: English, French, Arabic

        
ESTABLISHMENT AND FUNCTIONS

        
The African Export-Import Bank (Afreximbank) was
        created under the auspices of the African Development
        Bank (AfDB) following a Resolution adopted by the Annual
        Meeting of the Board of Governors held in Cairo, Egypt in
        July 1987, which directed the Management of the AfDB to
        conduct a feasibility study on the establishment of such
        a bank. The Board of Directors of AfDB considered the
        feasibility study and approved, in principle, the
        recommendation made to establish the Bank. Following a
        number of consultative meetings held in Cairo, Egypt in
        January 1993, Harare, Zimbabwe in March 1993 and Abidjan,
        Côte d'Ivoire, in May 1993, the First General Meeting of
        Shareholders was held from October 27-28, 1993 in Abuja,
        Nigeria, where the Bank was formally established by the
        adoption of the final texts of the basic legal documents
        of the African Export-Import Bank, namely, the Agreement
        for the Establishment of the Bank and the Charter of the
        Bank. The General Meeting also appointed the first
        President of the Bank, elected the first Board of
        Directors, and chose Cairo as the location of the Bank's
        Headquarters. 

        
The Bank was established as an international
        institution with full juridical personality under the
        laws of the States parties to the Agreement and is
        endowed with immunities, privileges and concessions under
        the Agreement. 

        
The purpose of the Bank is to facilitate, promote
        and expand intra-African and extra-African trade. To this
        end, the Bank's functions include: (1) extending direct
        credit to eligible African exporters in the form of pre-
        and post-shipment export finance; (2) extending indirect
        short-term credit (up to 12 months) and medium-term
        credit (over one year up to seven years) by way of lines
        of credit to eligible trade finance intermediaries; (3)
        promoting and financing intra-African trade and
        non-traditional African exports; (4) financing export
        generative African imports of equipment, spare-parts and
        raw materials; (5) providing risk-bearing facilities,
        such as the issuance and confirmation of letters of
        credit, guarantees (including country risk guarantees)
        and bill discounting facilities; (6) providing insurance
        services, covering commercial and non-commercial risks
        associated with African exports; and (7) providing
        support to payment arrangements in Africa and financing
        South South trade. 

        
The Bank was established with an authorized capital
        of US$750 million payable in five installments; its
        subscribed capital as of December 31, 2001 stood at
        US$367 million, of which paid-up capital amounted to
        US$146 million, representing proceeds from two
        installments that had been called. 

        
The Bank's membership and capital structure is made
        up of three categories of shareholders as follows: (1)
        Class 'A' Shareholders consisting of African Governments,
        African Central Banks and Sub-regional and regional
        financial institutions; (2)Class 'B' Shareholders comprising African public and
        private financial institutions, such as commercial banks,
        insurance companies, etc. and African public and
        financial investors; and (3) Class 'C' Shareholders
        comprising international financial institutions, and
        economic organizations and non-African States, banks,
        financial institutions and public and private investors.
        The Bank's authorized capital, when fully subscribed, is
        expected to be distributed among the three categories of
        Shareholders as follows: 35 percent for Class 'A', 40
        percent for Class 'B' and 25 percent for Class 'C'. 

        
COMPOSITION

        
As of December 31, 2001, the Bank's membership was
        composed of 108 Shareholders as
        follows: 

        
1.Class 'A' comprising 37
        Shareholders including 16 African Governments
        (Nigeria, Kenya, Ethiopia, Senegal, Guinea, Malawi,
        Botswana, Mali, Gabon, Benin, Rwanda, Côte d'Ivoire,
        Namibia, Mauritius, Burkina Faso, and Niger), 17 African
        Central Banks (Central Bank of Egypt, Reserve Bank of
        Zimbabwe, Banque Centrale de Tunisie, Bank of Ghana,
        Banco National de Angola, Bank of Tanzania, National Bank
        of Ethiopia, Central Bank of Guinea, Bank of Zambia, Bank
        of Sierra Leone, Bank of Mauritius, Central Bank of The
        Gambia, Banco de Mozambique, Bank of Sudan, Bank of
        Uganda, Banco de Cabo Verde, Central Bank of Mauritania),
        and 4 regional and sub-regional institutions (African
        Development Bank, African Reinsurance Corporation, PTA
        Trade and Development Bank, and Banque Centrale des Etats
        de l'Afrique de l'Ouest (BCEAO)). 

        
2. Class 'B' comprising 59
        Shareholders including 44 commercial banks in
        15 countries (Egypt, Nigeria, Mauritius, Ethiopia, Kenya,
        Morocco, Mauritania, Uganda, Benin, Ghana, Guinea, Gabon,
        Togo, Zimbabwe, and Tanzania). 

        
3. Class 'C' comprising 12
        Shareholders including the Arab Bank for
        Economic Development in Africa (BADEA), Exim Bank of
        China, Citibank N.A., Standard Chartered Bank U.K., HSBC
        Equator Bank, Krediet Bank NV, the Export-Import Bank of
        India, Meridien BIAO, Banco do Brasil (through the
        Brazilian American Merchant Bank), Credit Commercial de
        France, Sumitomo Bank Ltd., and Pryor, McClendon, Counts
        & Co., Inc. (PMC), U.S.A. 

        
STRUCTURE

        
The General Meeting of Shareholders
        is the highest authority of the Bank and is composed of
        Shareholders or their representatives. Its Chairman
        is elected by Class 'A' and Class 'B' Shareholders
        whereas the Vice-Chairman is elected
        by all Classes of Shareholders. 

        
The Board of Directors is the
        major policy organ of the Bank and is composed of 10
        non-resident members; 4 are elected by Class 'A'
        Shareholders including one member appointed by the
        African Development Bank; 4 are elected by Class 'B'
        Shareholders; and 2 are elected by Class 'C'
        Shareholders. Members of the Board of Directors are
        elected for a term of three years and my be re-elected. 

        
The President is, ex-officio,
        the chairman of the Board of Directors and, in his
        absence, a Vice-President serves in that capacity. The Head,
        Executive Secretariat serves as the Secretary
        of the Board of Directors and its Committees. 

        
The Executive Committee, a
        subsidiary organ of the Board of Directors carries out
        delegated functions, including commitment authority in
        respect of financing, guarantee and investment proposals.
        It is composed of three directors designated by the Board
        of Directors from among directors elected by Class 'A',
        Class 'B' and Class 'C' Shareholders, respectively. 

        
The Audit Committee, another
        statutory committee of the Board of Directors is
        entrusted with the responsibility of reviewing, examining
        and verifying the proper application of institutional
        policies and procedures by the financial, operational and
        administrative units of the Bank. 

        
The President is elected by
        the shareholders in a General Meeting, on recommendation
        of the Board of Directors, and holds office for a term of
        five years, renewable once for a similar period. A Vice-President
        is elected by the Board of Directors on the
        recommendation of the President. The President
        is the Chief Executive of the institution and is
        responsible for the day-to-day management of the Bank. 

        

                          Board of Directors

          Chairman:                   ...   Christopher C. EDORDU
                                              President

                         Members of the Board

          Class 'A'                   ...   Mathias KEAH
                                      ...   M.M. KHALIL
                                      ...   S. USMAN
                                      ...   G. MBESHEREBUSHA
          Class 'B'                   ...   C. CHIKAURA
                                      ...   M.A. DAOUAS
                                      ...   L.J. MABERT
                                      ...   E. AHOUTOU
          Class 'C'                   ...   Osman Hassan SAEED
                                      ...   Franklin KENNEDY
          Secretary to the Board:     ...   Getachew TELAHUN



        
GENERAL PUBLICATIONS

        
Annual Report; Do You Know?; Highlights of the Bank's Strategic
        Plan for the period 1996-2000; Africa at a
        Glance; Africa-in-Figures; African Trade Coming to the
        Fore; Checklist for a Loan or Line of Credit to Finance
        African Trade; Guidelines for Extending Lines of Credit
        to Trade Finance Intermediaries; Trade Finance Facilities
        and Related Services; Afreximbank's Credit Policies and
        Procedures; Agreement for the Establishment of the
        African Export-Import Bank; Criteria for Appointing
        Afreximbank's Trade Finance Intermediaries; Afreximbank's
        Programmes and Facilities; The Role of Collateralised Finance in
        Funding the Commodity Sector (in collaboration
        with UNCTAD); Leading Issues in African Trade
        Finance (forthcoming); Recent Trends
        in African Trade Finance (forthcoming); Issues
        and Tools for Strengthening African Private Sector: An
        Examination of the Role of Venture Capital (forthcoming);
        

        
UPDATED:  December 2003

        
Directory of
        Economic, Commodity and Development Organizations - table
        of contents