Gabon Confers Highest Honours on Afreximbank Leaders Over $3.8bn Development Drive
President Brice Clotaire Oligui Nguema of Gabon has conferred the country’s top national honours on Prof. Benedict Oramah, outgoing President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), and Dr George Elombi, the Bank’s incoming President and current Executive Vice President.
The two were decorated as Commanders of the National Order of Merit during a ceremony held in Libreville on 15 September, coinciding with the groundbreaking of a €200 million (US$214 million) 300-megawatt thermal power station financed by Afreximbank.
The Government of Gabon said the honours recognised Afreximbank’s significant role in the country’s economic transformation over the past decade. In partnership with Arise Integrated Industrial Platforms (Arise IIP), the Bank has supported the development of Special Economic Zones, which have driven industrialisation, job creation and poverty reduction.
In addition, Afreximbank has pledged to commit US$5 billion towards domestic manganese processing, railway modernisation, energy generation, and the construction of three new power plants in Libreville, Port-Gentil and Lambaréné.
Accepting the award, Prof. Oramah reaffirmed the Bank’s commitment to Gabon’s long-term development, saying: “Executive Vice President, Dr George Elombi, and I are truly honoured by this recognition. We share this award with our entire team at Afreximbank, whose determination continues to pave the way for Africa’s socio-economic transformation.”
Prof. Oramah commended President Oligui Nguema’s leadership for pursuing bold development policies, noting that Gabon’s transformation should be achieved through African-led solutions rather than dependency on external aid. He announced plans for a US$5 billion Country Programme to finance strategic projects in Gabon.
The awards were presented shortly after Afreximbank signed a facility agreement with Gabon to provide a €200 million amortising term loan for strategic investments in the energy sector. The deal, signed in Abuja in June during Afreximbank’s 32nd Annual Meetings, will support the construction of three thermal power plants with a combined generation capacity of 300MW.
This follows a separate memorandum of understanding between the Bank and Gabon for a US$3.8 billion programme aimed at boosting trade, investment and industrialisation while positioning Gabon as a regional hub for intra-African trade.
