Libya Becomes Shareholder in Afreximbank, Advancing African Economic Unity

In a landmark move underscoring its renewed commitment to regional economic integration, the State of Libya has officially become a shareholder in the African Export-Import Bank (Afreximbank). This significant step follows Libya’s accession to the Afreximbank Establishment Agreement in October 2024, making it the 52nd African nation to join the multilateral financial institution.

The announcement was confirmed following Libya’s submission of its payment for shares in the Bank on 13 May 2025, thus transforming the North African country into both a participating state and an official shareholder. This dual status deepens Libya’s engagement with Africa’s premier trade finance institution and positions the country strategically in its quest for economic reconstruction and continental collaboration.

Strengthening Continental Integration

The acquisition of shares is more than a financial transaction; it represents Libya’s desire to cement its position as a key player in intra-African trade and investment. Afreximbank President and Chairman of the Board of Directors, Prof. Benedict Oramah, hailed the move as a "historic milestone" that reflects growing confidence in the Bank and its role as a driver of African economic transformation.

“Libya's shareholding in Afreximbank puts the Bank in a strong position to support the government’s reconstruction efforts while also helping to deepen its regional connectivity,” Prof. Oramah stated. He referenced critical infrastructure projects—such as the oil pipeline and road networks linking Libya with Egypt, and electricity interconnection initiatives involving Libya, Tunisia, and Algeria—as key areas where the Bank could deliver impactful support.

Strategic Investment in Africa’s Future

Prof. Oramah also praised Libya’s forward-looking approach and reiterated that its shareholding will boost the Bank’s capital base, enabling the expansion of services and increasing operational reach across the North African region. Afreximbank has already played a transformative role in financing trade-enabling projects throughout the continent, and Libya’s inclusion strengthens this mandate.

The Bank’s priority interventions in Libya will include:

• Infrastructure development

• Oil and gas sector revitalization

• Expansion of manufacturing for export

• Support for regional trade facilitation and logistics

These initiatives align with the Bank’s broader continental integration agenda, a cornerstone of its mission to enhance intra-African commerce and contribute to the goals of the African Continental Free Trade Area (AfCFTA).

A New Chapter in Libya’s Economic Rebuilding

Libya’s accession and subsequent investment in Afreximbank comes at a time when the country is actively seeking economic diversification, regional engagement, and post-conflict reconstruction. Speaking on behalf of the Libyan government, Dr. Khaled Al-Mabrouk Abdullah, Minister of Finance, highlighted the symbolic and practical importance of this development.

“We regard this development as a critical step forward in Libya’s journey towards greater economic integration within the African continent,” Dr. Abdullah said. “Our accession as the 52nd African nation to Afreximbank underscores our commitment to fostering robust trade and investment relationships across Africa.”

Dr. Abdullah extended gratitude to Prof. Oramah for his leadership and dedication to facilitating Libya’s integration into the Afreximbank family. He noted that Libya is eager to tap into the Bank’s technical expertise, financial tools, and regional networks to advance its national economic priorities and stimulate sustainable development.

Reaffirming Pan-African Financial Solidarity

Libya’s full membership not only enhances its national prospects but also sends a powerful signal of unity and shared purpose among African nations. It reaffirms the relevance of Afreximbank as a Pan-African multilateral institution committed to financing development, facilitating trade, and reinforcing economic resilience across the continent.

As African nations continue to respond to global challenges and work toward achieving the African Union’s Agenda 2063, such strategic alliances are essential for ensuring that African solutions are at the heart of Africa’s growth story.

Libya’s formal entry into Afreximbank's shareholder roster is a step not just toward economic revitalization at home, but also toward the realization of a more cohesive, connected, and competitive Africa. It is a powerful testament to the continent’s determination to work collaboratively to build a future driven by African capital, innovation, and cooperation.

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