Central Bank of Egypt (CBE) Governor Hassan Abdalla delivered a keynote address at the investiture ceremony of George Elombi, the newly appointed President of the African Export-Import Bank (Afreximbank), held in Cairo on Friday.

In his speech, Abdalla praised Afreximbank as “a remarkable institution that has shaped and continues to shape the course of Africa’s economic destiny,” noting that the ceremony marks not just a leadership transition, but “a moment of continuity and renewal” that underscores Africa’s shared pursuit of prosperity.

He commended the bank’s evolution over the past three decades from a visionary idea into a world-class African institution, consistently upholding excellence, innovation, and resilience. “Guided by successive leaders, the Bank stands at the center of Africa’s transformation, financing trade, building industries, and unlocking the immense potential of intra-African commerce,” Abdalla said.

The CBE Governor reaffirmed Egypt’s pride in being both a founding shareholder and the host country of Afreximbank’s headquarters, describing Africa as “a frontier for future markets and a driver of global growth for decades to come.”

Abdalla also highlighted the African Continental Free Trade Area (AfCFTA) as a historic step toward creating the largest single market in the world, positioning Africa as a cornerstone of the 21st-century global economy.

He noted that Afreximbank has been instrumental in advancing the continent’s integration and development through key initiatives such as the Pan-African Payment and Settlement System (PAPSS), the AfCFTA Adjustment Fund, the African Medical Centre of Excellence, and the establishment of industrial parks and special economic zones.

Reflecting on the bank’s resilience, Abdalla emphasized its crucial role in mobilizing resources during crises, particularly the COVID-19 pandemic, saying such interventions affirm Afreximbank’s capacity to safeguard African economies from systemic shocks.

He concluded by paying tribute to outgoing President Professor Benedict Oramah for his outstanding leadership and extended his best wishes to Elombi, expressing confidence in his ability to continue the bank’s mission of supporting Africa’s industrialization and trade development.