Afreximbank Vice-president Denys Denya.
The programme, launched in 2014, aims to mobilise a portion of African central banks’ reserves to support intra-African trade and economic development, promoting economic growth and integration across the continent.
"We need African solutions to Africa's problems. We raise funding from the continent,” Denya said in a plenary session during Afreximbank’s 31st Annual Meetings and 3rd Afri-Caribbean Trade and Investment Forum in Nassau, Bahamas on Friday.
“In terms of funding, in 2014 the Afreximbank launched the central bank deposit programme. Since then, cumulatively, we have raised $38 billion.”
In his welcome remarks at the opening ceremony, Denya noted that despite the abolition of the transatlantic slave trade in 1807/1808, Africa remains a periphery player in the world’s economic and finance spheres.
Denya noted that in an increasingly deglobalised world characterised by friend-shoring and nearshoring, with the key actors aiming at economic and political dominance, the need for a united Africa in the context of global Africa was not only logical but urgent.
“I would like to remind us of the hope of our forefathers — who fought and lost their lives in the quest for emancipation from the clutches of colonialism and neo-colonialism,” he noted.
“It has been a long and bumpy journey characterised by uncertainty of enormous proportions.”
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