President of the African Export–Import Bank (Afreximbank), Professor Benedict Oramah, has stressed the urgent need to accelerate the implementation of the African Continental Free Trade Area (AfCFTA), in response to changing global trade dynamics such as the reimposition of reciprocal tariffs by the United States.
Speaking during a high-level dialogue moderated by Michael Rheinegger of the Swiss-African Business Circle at the Swiss-Africa Business Day, Prof. Oramah shared the stage with World Trade Organization Director-General Dr. Ngozi Okonjo-Iweala to discuss Africa’s evolving trade environment and strategic partnerships.
Highlighting that intra-African trade accounts for less than 18% of the continent’s total trade, Prof. Oramah said the AfCFTA offers a critical path to building resilient value chains, reducing dependency on external markets, and fostering industrial development.
He pointed to Afreximbank’s ongoing support for the continental trade agenda, citing key initiatives such as the Pan-African Payment and Settlement System (PAPSS), the African Trade Gateway, and the $10 billion AfCFTA Adjustment Fund. These efforts, he noted, are aimed at harmonizing regulations, lowering transaction costs, and empowering small and medium-sized enterprises (SMEs) through finance and digital innovation.
Prof. Oramah also underlined the importance of aligning free trade with Africa’s industrial ambitions. Through investments in industrial parks, a unified automotive strategy, and credit lines extended to over 500 African banks, Afreximbank is working to transform member states into globally competitive producers of value-added goods.
Looking ahead, he called for enhanced cooperation between Afreximbank and Switzerland, particularly in the fields of pharmaceuticals, agro-processing, research, and commodity trade. Such collaboration, he said, would help expand Africa’s productive capacity and generate mutual economic benefits.
Reaffirming the bank’s mission, Prof. Oramah concluded that Afreximbank is committed to advancing a trade-enabled future rooted in African-driven solutions and strengthened by global partnerships.
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