By zainab.joaque@awokonewspapersl.com
Abuja, Nigeria – July 1, 2025 – In a momentous evening in Abuja, Afreximbank President and Board Chairman Prof. Benedict Oramah unveiled the much-anticipated second volume of his influential work, Foundations and Evolutions of Structured Trade Finance, during the bank’s Annual Meetings.
The event drew a distinguished audience of policymakers, financial experts, business leaders, and journalists, all gathered to celebrate a body of work that chronicles Africa’s journey through—and future in—structured trade finance.
Prof. Oramah, addressing the crowd with heartfelt appreciation, described the launch as more than just a book release. “I am personally grateful to each of you for taking time out of your busy schedules to attend this book signing,” he said. “This event is a celebration of collective effort, shared vision, and the advancement of trade finance across Africa.”
In his remarks, Prof. Oramah reflected on his early days at Afreximbank, joining in 1994 when structured trade finance was still a fledgling concept, emerging amid a global sovereign debt crisis. He recalled how the bank embraced the model early on because of its unique strength: the ability to shift risk from less capable to more resilient parties, thereby enabling trade in tough economic environments.
“For Africa,” he noted, “advanced economies in Europe and North America once accounted for about 70% of its trade. This historical North-South trade pattern largely shaped the first edition of the book.”
But that dynamic has dramatically shifted.
Over the past decade, Prof. Oramah explained, South-South trade has surged. Trade between African nations and other developing countries has skyrocketed—from just 23% of total African trade in 1995 to nearly 68% in 2024. Meanwhile, trade with advanced economies has fallen below 50%.
“Intra-African trade alone has grown to 15–17% of our continent’s total trade and is poised to double within a decade,” he said, attributing the expected growth to the ongoing implementation of the African Continental Free Trade Agreement (AfCFTA). “This evolution challenges the traditional models of structured trade finance and calls for innovative approaches to manage payment risks in South-South commerce.”
Prof. Oramah also addressed the continent’s industrial revival, citing discoveries of natural resources, the emergence of new producers, and the rise of regional manufacturing hubs. These changes, he emphasized, require a shift in how trade is financed—moving beyond commodity-based models to frameworks that support domestic value chains and small to medium-sized enterprises.
“The second volume of this book reflects these changes,” he said, “exploring evolving regulatory environments and how they shape trade finance in emerging markets. It’s a roadmap for maintaining Africa’s access to global finance through innovation.”
With characteristic humility, Prof. Oramah credited the team behind the publication, including publishers Globe Law and Business Limited, former Afreximbank presidents Christopher Edordu and Jean Louis Ekra, and his colleagues. He offered special thanks to his wife and daughters for their support during the writing process.
“You gave up family time so I could bring this book to life,” he said, visibly emotional. “When I faltered, your encouragement kept me going. This book is our collective achievement.”
As Africa stands at the crossroads of transformation, Foundations and Evolutions of Structured Trade Finance serves as both a testament to its economic resilience and a guidebook for the future.
Prof. Oramah’s concluding message was clear and powerful: “This is not just a book launch. It is a renewed commitment to the vision of a prosperous, self-sustaining Africa.” ZIJ/1/7/2025
