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The African Export-Import Bank (Afreximbank) and Egypt unveiled on Wednesday a $10 billion crisis response programme and plans for a pan-African Gold Bank, as the continent seeks to shield all countries, including Kenya, from global supply chain shocks and build greater economic self-reliance.
Speaking at a joint media briefing at the Central Bank of Egypt (CBE) headquarters, officials said the initiatives mark a strategic push to deepen intra-African trade and reduce dependence on external financial systems, ahead of the bank’s annual meetings in June.
“Africa’s next phase of growth must be driven by intra-African trade, industrialisation and greater economic sovereignty,” Afreximbank President George Elombi told reporters at the virtual press conference, adding, “Recent shocks have shown that Africa must build stronger regional supply chains and reduce excessive reliance on external systems for essential goods, payments and logistics.”
The lender launched the $10 billion Gulf Crisis Response Programme in the first quarter of 2026 to support member countries facing liquidity, supply-chain and payment pressures stemming from global geopolitical tensions. The facility comes on top of a $2 billion equivalent dual-tranche syndicated facility completed in Q1, which attracted 31 lenders from Europe, the Middle East, Asia and Africa.
Elombi said the bank closed the first quarter with total assets and contingencies of $49.4 billion, shareholders’ funds of $8.6 billion, a capital adequacy ratio of 23 per cent and a non-performing loan ratio of 2.40 per cent.
The CBE and Afreximbank signed a memorandum of understanding to establish a pan-African Gold Bank, aimed at formalising the continent’s gold value chains and strengthening central bank reserves.
“The Gold Bank will contribute to building a robust and sophisticated economic system across the continent,” said CBE Governor Hassan Abdalla, adding that Egypt – Afreximbank’s largest shareholder and host of its headquarters – views the partnership as “strategic and foundational.”
Egypt is set to host the 33rd Afreximbank Annual Meetings (AAM2026) in the Mediterranean city of New Alamein from June 21-24, under the patronage of President Abdel Fattat El-Sisi. The event is expected to draw more than 4,000 delegates, including heads of state, central bank governors and private sector leaders.
The meetings will focus on the theme “Intra-African Trade as a Catalyst for Industrialisation and Economic Sovereignty”, with agenda priorities including trade finance, regional integration and reform of the global financial architecture, Elombi said.
“AAM2026 will provide a valuable opportunity to strengthen partnerships, unlock investment opportunities, and advance discussions on Africa’s financial sovereignty and economic resilience,” Elombi said.
Abdalla noted that Egypt’s unique geographic position at the crossroads of Africa, the Middle East and Europe reinforces its role as a natural gateway for trade and investment. The selection of New Alamein, a newly developed economic hub, underscores Cairo’s push to build modern, globally connected cities capable of hosting major international events.
Dr Elombi said Afreximbank has provided approximately $9.5 billion in financing to Egypt over the past three years, supporting sectors including financial services, oil and gas, telecommunications and construction. In December 2025, the bank broke ground on a $250 million African Trade Centre in Egypt’s New Administrative Capital.
The bank continues to champion the Pan-African Payment and Settlement System (PAPSS), also backed by Kenya and the MANSA digital verification platform as foundational infrastructure for reducing transaction frictions across the continent.
“The aim is not only to finance transactions, but to build the operating systems that allow African businesses to scale across borders,” Elombi said.
About 4,000 delegates from Africa and the Caribbean, including those from Kenya, are expected at the landmark annual meeting.
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Speaking at a joint media briefing at the Central Bank of Egypt (CBE) headquarters, officials said the initiatives mark a strategic push to deepen intra-African trade and reduce dependence on external financial systems, ahead of the bank’s annual meetings in June.
“Africa’s next phase of growth must be
driven by intra-African trade
, industrialisation and greater economic sovereignty,” Afreximbank President George Elombi told reporters at the virtual press conference, adding, “Recent shocks have shown that Africa must build stronger regional supply chains and reduce excessive reliance on external systems for essential goods, payments and logistics.”
The lender launched the $10 billion Gulf Crisis Response Programme in the first quarter of 2026 to support member countries facing liquidity, supply-chain and payment pressures stemming from global geopolitical tensions. The facility comes on top of a $2 billion equivalent dual-tranche syndicated facility completed in Q1, which attracted 31 lenders from Europe, the Middle East, Asia and Africa.
Elombi said the bank closed the first quarter with total assets and contingencies of $49.4 billion, shareholders’ funds of $8.6 billion, a capital adequacy ratio of 23 per cent and a non-performing loan ratio of 2.40 per cent.
The CBE and Afreximbank signed a memorandum of understanding to establish a pan-African Gold Bank, aimed at formalising the continent’s gold value chains and strengthening central bank reserves.
“The Gold Bank will contribute to building a robust and sophisticated economic system across the continent,” said CBE Governor Hassan Abdalla, adding that Egypt – Afreximbank’s largest shareholder and host of its headquarters – views the partnership as “strategic and foundational.”
Egypt is set to host the 33rd Afreximbank Annual Meetings (AAM2026) in the Mediterranean city of New Alamein from June 21-24, under the patronage of President Abdel Fattat El-Sisi. The event is expected to draw more than 4,000 delegates, including heads of state, central bank governors and private sector leaders.
The meetings will focus on the theme “Intra-African Trade as a Catalyst for Industrialisation and Economic Sovereignty”, with agenda priorities including trade finance, regional integration and reform of the global financial architecture, Elombi said.
“AAM2026 will provide a
valuable opportunity to strengthen
partnerships, unlock investment opportunities, and advance discussions on Africa’s financial sovereignty and economic resilience,” Elombi said.
Abdalla noted that Egypt’s unique geographic position at the crossroads of Africa, the Middle East and Europe reinforces its role as a natural gateway for trade and investment. The selection of New Alamein, a newly developed economic hub, underscores Cairo’s push to build modern, globally connected cities capable of hosting major international events.
Dr Elombi said Afreximbank has provided approximately $9.5 billion in financing to Egypt over the past three years, supporting sectors including financial services, oil and gas, telecommunications and construction. In December 2025, the bank broke ground on a $250 million African Trade Centre in Egypt’s New Administrative Capital.
The bank continues to champion the Pan-African Payment and Settlement System (PAPSS), also backed by Kenya and the MANSA digital verification platform as foundational infrastructure for reducing transaction frictions across the continent.
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“The aim is not only to finance transactions, but to build the operating systems that allow African businesses to scale across borders,” Elombi said.
About 4,000 delegates from Africa and the Caribbean, including those from Kenya, are expected at the landmark annual meeting.
By Brian Ngugi