Dr. Benedict Oramah (Benedict Okey Oramah), a Nigerian national, has served as Executive Vice President in charge of Business Development and Corporate Banking at Afreximbank since 2008. He was a pioneer staff of the Bank, which he joined in 1994 as Chief Analyst, rising to the position of Senior Director, Planning and Business Development Department in 2007. He previously served as Assistant Manager (Research) at the Nigerian Export-Import Bank from 1992 to 1994. He promised to continue to pursue the policy of inclusiveness started by his predecessors and to support all shareholders, big and small, pointing out that he would use the lessons of history to shape the vision for tomorrow.
In an acceptance speech following the appointment, Dr. Oramah said that the shareholders should leave the Annual General Meeting confident that they had made the right decision, explaining, “I may not be a shareholder of your bank, but my interests in the Bank are fully aligned with yours.”
“I have invested most of my adult life in your bank: I made important contributions in the establishment and development of the Bank so I have a vested interest in its survival and growth. Your bank exposed me to the world; and above all, about two years ago, your bank saved my life. So there can be no sacrifice too great for me to make for your bank. I step into the new role with courage and loyalty founded on these facts,” continued Dr. Oramah.
Who is Benedict Okey Oramah?
Dr. Benedict Okey Oramah assumed the position of President of the African Export – Import Bank (Afreximbank) in September 2015. Prior to his current role, he was the Executive Vice President in charge of for Business Development and Corporate Banking (BDCB), a position he occupied from October 2008 to September 2015.
Dr. Oramah’s appointment followed a recommendation by the Bank’s Board of Directors. Under the terms of the Afreximbank Charter, Presidents of the Bank are appointed by the General Meeting of Shareholders upon the recommendation of the Board of Directors, and serve for terms of five years, renewable only once.
As Executive Vice President, Dr. Oramah supervised the Business Development functions, namely: Trade Finance, Project and Export development finance, Syndications and Specialized Finance (SSF), and Corporate Finance and Advisory Services (CFAS). He also supervised the Research and Knowledge Management Functions of the Bank.
Further, he assisted the then President of the Bank in overseeing the Bank’s Strategic Planning and International Cooperation functions. Dr. Oramah joined Afreximbank as Chief Analyst in 1994 and was promoted to the position of Senior Director, Planning and Business Development in 2007. Prior to joining Afreximbank, he held the position of Assistant Research Manager at the Nigerian Export Import Bank (NEXIM) from 1992 to 1994.
Dr. Oramah holds M.Sc. and Ph.D. Degrees in Agricultural Economics obtained in 1987 and 1991 respectively from Obafemi Awolowo University, Ile-Ife, Nigeria. He obtained a B.Sc. degree in Agricultural Economics from the University of Ibadan, Nigeria in 1983. He has published a book on “Foundations of Structured Trade Finance” and has written over 35 articles on a wide range of African economic, trade and trade finance issues.
He is a regular speaker at several trade and trade finance conferences around the world. Dr. Oramah is Chairperson of the Africa Chapter of the International Factors Group (IFG). He serves on the Board of IFG, the Editorial Boards of Trade and Forfaiting Review (TFR) and the Journal of African Trade (JAT), and is a member of the Consultative Board on the World Cocoa Economy of the International Cocoa Organization (ICCO).
The African Export-Import Bank (Afreximbank) is the foremost Pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade. The Bank was established in October 1993 by African governments, African private and institutional investors, and non-African investors. Its two basic constitutive documents are the Establishment Agreement, which gives it the status of an international organization, and the Charter, which governs its corporate structure and operations. Since 1994, Afreximbank has approved almost $35 billion in credit facilities for African businesses, including about $4.5 billion in 2014.
President Vladimir Putin of Russia in Moscow bestowed the national honour of “The Order of Friendship” on Prof. Benedict Oramah (Benedict Okey Oramah), President of the African Export-Import Bank (Afreximbank). The award took place during a ceremony held in the Kremlin, seat of the Government of the Russian Federation, and was witnessed by senior members of the government and other dignitaries.
The Order of Friendship is a state decoration established by Boris Yeltsin, the first President of the Russian Federation, and is awarded to Russian and foreign nationals for Special merit in strengthening peace, friendship, cooperation and understanding between nations, for fruitful work on the convergence and mutual enrichment of cultures of nations and peoples; The active conservation, development and promotion of the cultural and historical heritage of Russia; Great contribution to the implementation of joint ventures with the Russian Federation, major economic projects and attracting investments into the economy of the Russian Federation; Broad charitable activities.
Dr. Benedict Okey Oramah is married and has three children.