Afreximbank calls for a new struggle for Africans’ economic freedom
ALGIERS: AFREXIMBANK President Prof. Benedict Oramah, today, September 4, 2025, called on African leaders and businesses to embrace what he described as a new struggle for the continent’s economic independence, powered by trade, innovation, and industrialization.
Speaking at the opening ceremony of the Intra-African Trade Fair (IATF2025) in Algiers, Oramah compared today’s challenges to the political struggles of the 1960s. “Instead of fighting in trenches, this battle will be fought on factory floors and tech incubation centers,” he told delegates. “Political independence without economic empowerment would be nothing but glorified servitude.”
He said the IATF has evolved into a formidable platform for transforming ideas into reality, citing examples from past editions.
The 2018 fair in Cairo that enabled Tanzania to launch the 2.9 billion US dollars Julius Nyerere Hydropower Project after global financiers rejected it.
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Built by Egyptian firms and financed entirely by African banks, the project has the capacity to generate 2,115 megawatts and has since made Tanzania energy self-sufficient.
Other success stories included Mauritania’s 12 million US dollar fish processing plant, Comoros’ Galawa Hotel tourism project, and a 450 million US dollar facility supporting industrial parks in six African countries. “These projects prove that Africa can dream big and deliver,” Oramah said.
The Algiers edition has drawn more than 35,000 visitors, 2,000 exhibitors, and several heads of state. Organizers expect trade and investment deals worth an estimated 44 billion US dollars.
“As we gather here today, we must remember that Africa’s economic revolution is not a gift — it must be earned with ideas, courage, and investment,” Oramah said, adding: “The IATF has become the rallying point for that revolution.”
