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Benedict Okey Oramah

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Benedict Okechukwu "Okey" Oramah
CON
3rd President and Chairman of the African Export–Import Bank (Afreximbank)
Incumbent
Assumed office
13 July 2015
Preceded byJean-Louis Ekra
Personal details
Born (1961-07-24) 24 July 1961 (age 63)
Ahoada, Nigeria
CitizenshipNigeria (1961–present)
SpouseChinelo Oramah
Children3
EducationUniversity of Ibadan (BSc)
University of Ife (MA, PhD)

Benedict Okechukwu “Okey” Oramah, CON, (born 24 July 1961) is a Nigerian economist who currently serves as President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank). He was elected President of the African Export-Import Bank (Afreximbank) in 2015 and re-elected for a second term in 2020.[1][2][3][4][5]

Biography

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Early life and education

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Benedict Okechukwu Oramah was born on 24 July 1961 to Chief Lazarus A. and Francisca U. Oramah in Ahoada, in present-day Rivers State of Nigeria. He is the youngest of four children.[6]

Oramah attended the Merchants of Light School in Oba before obtaining a bachelor’s degree in Agricultural Economics from the University of Ibadan in 1983. He subsequently obtained his Masters degree and Doctor of Philosophy from the University of Ife (now Obafemi Awolowo University) in the same field. Oramah holds an Advanced Management Certificate from Columbia Business School, New York.[6][7]

In 2018, he was appointed a Professor of International Trade and Finance by Adeleke University, Nigeria.[8]

Career

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Oramah began his professional career at the Nigerian Export-Import Bank (NEXIM) in 1992 as an Assistant Manager.

In March 1994, he joined African Export-Import Bank as one of the original employees. He has served in various roles in Afreximbank included serving as Chief Analyst, Assistant Director in 1998, Deputy Director in 2001, and substantive Director of the Planning and Business Development Department in 2004. He was promoted to Senior Director in 2007 and appointed Executive Vice President, Business Development and Corporate Banking in 2008.[5]

On July 13, 2015, he succeeded Jean-Louis Ekra as the third President of Afreximbank.[9] His leadership was reaffirmed with his reappointment for a second five-year term in 2020.[10][11]

Under his leadership, Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary, the Fund for Export Development in Africa (FEDA), and its insurance management arm, AfrexInsure. The group also includes several strategic subsidiaries and initiatives, such as MANSA, a repository platform for customer due diligence on African entities; the Pan-African Payment and Settlement System (PAPSS); Creative African Nexus (CANEX); the African Medical Centre of Excellence (AMCE); the Intra-African Trade Fair (IATF); and the Africa Quality Assurance Centre (AQAC). During his tenure, the Bank's balance sheet assets have grown from $5 billion in 2015[12] to $37 billion in 2023.[13]

Personal life

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Oramah is married to Mrs. Chinelo Oramah. They have three daughters.[6]

Board memberships

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Oramah holds various leadership and board roles in several organizations and initiatives, including.

  • Chairman of the Board of Directors of the Fund for Export Development in Africa (FEDA)
  • Chairman of the Management Board of Directors of the Pan-African Payment and Settlement System (PAPSS)
  • Chairman of the Executive Committee of the Arab-Africa Trade Bridges (AATB),[14]
  • Chairman of the Board of Trustees of the African Union COVID-19 Response Fund,[15]
  • Board member of the Sustainable Development Goals Centre for Africa (SDGCA),[16]
  • Member, Consultative Board on the World Cocoa Economy of the International Cocoa Organization (ICCO).[17]
  • Member of the Intra-African Trade Fair (IATF) Advisory Council,[18]
  • Member of the Practitioners Advisory Board of the Institute for Trade and Innovation (IfTI)[19] at Offenburg University, Germany
  • Board member of the Coalition for Dialogue on Africa (CoDA)[20]
  • Member of the Emerging Markets Advisory Council of the Institute of International Finance (IIF-EMAC).[21]
  • Fellow of the Institute of Credit Administration (ICA) and the Chartered Institute of Bankers of Nigeria (CIBN).

Awards and honours

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Oramah has received recognitions for his contributions to business and African trade, including.

  • 2024 Mohammed S. Barkindo Lifetime Achievement Award by the African Energy Week Awards[22]
  • 2024 Financial Leadership Award by the Africa Prosperity Network[23]
  • 2023, Forbes Africa magazine Person of The Year award[24]
  • 2023 "Business Leader of the Year" at CNBC Africa’s 11th All Africa Business Leaders Awards
  • 2017 and 2022 "African Banker of the Year" by the African Bankers’ Magazine.[25][26][27]
  • 2022 Margaret Herz Demant Award for African Art by the Detroit Institute of Arts.[28]
  • 2019 to 2022 - Oramah has been listed as one of the 100 most influential Africans by New African Magazine[29][30]
  • Top 100 Influential Africans by Jeune Afrique magazine for multiple years since 2017.
  • He also holds honorary doctorates from the Obafemi Awolowo University and Nnamdi Azikiwe University.[31][32]

National honours

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Foreign honours

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Published works

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  • A Path to Making Africa Great Again, New York University and Afreximbank, 2018
  • Foundations of Structured Trade Finance, Wilmington, Ark Group Ltd., London, 2015
  • Potentials for Diversifying Nigeria’s Non-Oil Exports to Non-Traditional Markets, Research Report 68, African Economic Research Consortium (AERC), Nairobi, November 1997

References

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  1. ^ "Nigerian emerges African Export-Import Bank president". Retrieved 5 November 2023.
  2. ^ CNN speaks to African Export-Import Bank President | CNN, 14 July 2023, retrieved 5 November 2023
  3. ^ "Nigeria's Benedict Oramah assumes headship of Afreximbank". hallmarknews.com. 21 September 2015. Retrieved 5 November 2023.
  4. ^ "Afreximbank appoints Nigerian banker, Benedict Oramah as new president". Ventures Africa. 23 September 2015. Retrieved 5 November 2023.
  5. ^ a b "Benedict Oramah". World Economic Forum. Retrieved 5 November 2023.
  6. ^ a b c "Afreximbank's Benedict Oramah – 'The ratings agencies looked down on us'". The Africa Report.com. Retrieved 5 November 2023.
  7. ^ Anyaoku, Emeka (2004). The Inside Story Of The Modern Commonwealth. Evans Brothers Ltd. pp. 3–5. ISBN 0-237-52734-0.
  8. ^ "President Oramah Decorated Professor of International Trade and Finance". African Export-Import Bank. 22 July 2018. Retrieved 5 November 2023.
  9. ^ "Afreximbank appoints Benedict Oramah as new president". TXF. Retrieved 5 November 2023.
  10. ^ "Prof. Benedict Oramah Re-appointed as Afreximbank President". African Export-Import Bank. 14 June 2020. Retrieved 5 November 2023.
  11. ^ "ALB - African Law and Business". ALB Legal and Business Issues from Africa. Retrieved 5 November 2023.
  12. ^ "Afreximbank announces 10-fold asset growth to $5 billion since 2004". 13 June 2015. Retrieved 1 January 2025.
  13. ^ "Afreximbank delivers strong financial results for the nine months ended 30 September 2024, surpassing prior year's performance despite a challenging operating environment". 18 November 2024. Retrieved 1 January 2025.
  14. ^ "The Arab-Africa Trade Bridges Program Launches AATB Food Security Program". African Export-Import Bank. 6 July 2023. Retrieved 22 January 2024.
  15. ^ "AUCOVID19ResponseFund | African Union". au.int. Retrieved 22 January 2024.
  16. ^ "board". Retrieved 22 January 2024.
  17. ^ "Economy". International Cocoa Organization. Retrieved 22 January 2024.
  18. ^ "Afreximbank president Benedict Oramah's allies and inner circle". The Africa Report.com. Retrieved 22 January 2024.
  19. ^ "Members". ifti.hs-offenburg.de. Retrieved 22 January 2024.
  20. ^ "Board of Directors – codafrica". Retrieved 22 January 2024.
  21. ^ "Prof. Benedict Oramah | Global Africa Business Initiative". gabi.unglobalcompact.org. Retrieved 22 January 2024.
  22. ^ AECWeek (23 September 2024). "Afreximbank's Benedict Oramah to Receive Mohammed Barkindo Lifetime Achievement Award at AEW 2024". AECWeek. Retrieved 2 January 2025.
  23. ^ "Main". Africa Prosperity Network. Retrieved 31 January 2024.
  24. ^ AriseNews (8 December 2023). "Afreximbank's President Oramah Named FORBES Africa's 2023 Person of the Year". Arise News. Retrieved 22 January 2024.
  25. ^ AriseNews (8 December 2023). "Afreximbank's President Oramah Named FORBES Africa's 2023 Person of the Year". Arise News. Retrieved 22 January 2024.
  26. ^ "'Exploring Uncharted Waters': The Growth Strategist Turning Around African Trade". www.forbesafrica.com. 15 December 2023. Retrieved 22 January 2024.
  27. ^ Moses-Ashike, Hope (3 May 2022). "Wigwe, Oramah, Ayeyemi make list of African Banker of Year Award". Businessday NG. Retrieved 22 January 2024.
  28. ^ "2022 Margaret Herz Demant Awards | Detroit Institute of Arts Museum". dia.org. Retrieved 22 January 2024.
  29. ^ African, New (15 December 2020). "Benedict Oramah: International trade is a game of survival of the fittest". New African Magazine. Retrieved 5 November 2023.
  30. ^ "Afreximbank's President Benedict Oramah Named Among Most Influential Africans". African Export-Import Bank. 10 May 2019. Retrieved 5 November 2023.
  31. ^ University, Nnamdi Azikiwe (23 March 2022). "Convocation: Afrexim Bank President, Oramah, Dangote, others bag Degrees from UNIZIK". Nnamdi Azikiwe University. Retrieved 5 November 2023.
  32. ^ Rapheal (24 April 2022). "Day UNIZIK honoured Dangote, Oramah, others at convocation". The Sun Nigeria. Retrieved 5 November 2023.
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