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Afreximbank President Benedict Oramah will Receive African Energy Person of the Year Award

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  The President of the African Export Import Bank Afreximbank Benedict Okey Oramah will receive the inaugural African Person of the Year in Energy from the African Chamber of Energy during the African Energy Week www AECWeek com 2022 in Ciudad Cape in October The African Energy Person of the Year award recognizes a person who has been influential or prominent in the African energy industry during the year or who has championed Africa and its energy sector Dr Oramah a leading advocate for the continent and for a just African energy transition is a natural choice for this award In an era when wealthy nations restrict funding for fossil fuels Benedict Oramah has been doing his best to strengthen Africa s oil and gas industry He understands that our oil and gas resources are still sorely needed to eradicate widespread energy poverty on our continent and create a path to a better economic future Oramah who has a doctorate in agricultural economics has been president and chairman of the board of directors of Afreximbank since 2015 Before beginning his career at Afreximbank in 1994 he was deputy manager of research at the Nigerian Export Bank Oramah is a published author and a frequent speaker at trade finance conferences around the world In May he was named African Banker of the Year for the second time in recognition of his leadership during the COVID 19 pandemic Dr Oramah is tireless in his work on behalf of the continent Under his direction Afreximbank distributed more than 7 billion to African countries during the pandemic so they could meet the health needs of their people and address the devastating impact of COVID 19 on African economies Not only that Afreximbank guaranteed the acquisition of 400 million doses of Johnson amp Johnson COVID 19 vaccines enough to vaccinate 30 of the continent s population Dr Oramah works equally hard to empower African governments businesses and communities to achieve a more stable and prosperous future In his role as president of Afrexibank he strives to de risk transactions in Africa through medium and long term guarantee programs and is an outspoken voice for increased intra African trade Recognizing that Africa s energy sector still has an important role to play in building stronger and more resilient African countries Dr Oramah continues to find ways to support a strong African sector a healthy mix of oil gas and renewable sources That became apparent in 2021 when Africa tried to convince the international community to respect the continent s priorities a plea that seemed to fall on deaf ears During the 2021 United Nations Climate Change Conference COP26 in Glasgow more than 20 countries and financial institutions pledged to stop public funding of fossil fuel projects abroad Foreign investment in African oil and gas projects was rapidly drying up and we in the chamber felt that the only way forward was an African solution We began calling for an African energy bank that would finance the continent s energy projects and allow African nations to transition from fossil fuels to renewable energy on their own schedule Dr Oramah immediately supported that idea That support helped pave the way for Afreximbank and the African Petroleum Producers Organization APPO to sign a memorandum of understanding in May 2022 and agree to collaborate on establishing an African Energy Transition Bank These are challenging times in which we must strive to strike the right balance between the imperatives of mitigating climate change and the urgency of avoiding social disruption as a result of increasingly difficult economic and financial conditions in Africa said Dr Oramah at that time His cooperation with APPO was one of the many ways in which Dr Oramah proved himself to be a true champion of the continent s energy sector Under Dr Oramah s leadership Afreximbank has repeatedly helped national oil companies obtain the financing they need This year alone Nigerian National Petroleum Company NNPC Limited secured a 5 billion corporate finance commitment from Afreximbank financing that will support major and much needed investments in Nigeria s upstream sector Oramah has been the voice of reason during a critical time for Africa s energy sector It has clearly stated that balance is the key to a just energy transition one that brings the world closer to its net zero ambitions while giving Africa the same opportunities to capitalize on its oil reserves that other countries have realized The African Chamber of Energy is proud to recognize Dr Oramah a champion of Africa and a role model for Africans
Afreximbank President Benedict Oramah will Receive African Energy Person of the Year Award

1 The President of the African Export-Import Bank (Afreximbank), Benedict Okey Oramah, will receive the inaugural African Person of the Year in Energy from the African Chamber of Energy during the African Energy Week (www.AECWeek.com) 2022 in Ciudad Cape in October.

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3 The African Energy Person of the Year award recognizes a person who has been influential or prominent in the African energy industry during the year or who has championed Africa and its energy sector.

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4 Dr. Oramah, a leading advocate for the continent and for a just African energy transition, is a natural choice for this award.

5 In an era when wealthy nations restrict funding for fossil fuels, Benedict Oramah has been doing his best to strengthen Africa’s oil and gas industry. He understands that our oil and gas resources are still sorely needed to eradicate widespread energy poverty on our continent and create a path to a better economic future.

6 Oramah, who has a doctorate in agricultural economics, has been president and chairman of the board of directors of Afreximbank since 2015. Before beginning his career at Afreximbank in 1994, he was deputy manager of research at the Nigerian Export Bank. Oramah is a published author and a frequent speaker at trade finance conferences around the world. In May, he was named African Banker of the Year (for the second time) in recognition of his leadership during the COVID-19 pandemic.

7 Dr. Oramah is tireless in his work on behalf of the continent. Under his direction, Afreximbank distributed more than $7 billion to African countries during the pandemic so they could meet the health needs of their people and address the devastating impact of COVID-19 on African economies. Not only that, Afreximbank guaranteed the acquisition of 400 million doses of Johnson & Johnson COVID-19 vaccines, enough to vaccinate 30% of the continent’s population.”

8 Dr. Oramah works equally hard to empower African governments, businesses and communities to achieve a more stable and prosperous future. In his role as president of Afrexibank, he strives to de-risk transactions in Africa through medium and long-term guarantee programs and is an outspoken voice for increased intra-African trade.

9 Recognizing that Africa’s energy sector still has an important role to play in building stronger and more resilient African countries, Dr. Oramah continues to find ways to support a strong African sector: a healthy mix of oil, gas and renewable sources. That became apparent in 2021, when Africa tried to convince the international community to respect the continent’s priorities, a plea that seemed to fall on deaf ears.

10 During the 2021 United Nations Climate Change Conference (COP26) in Glasgow, more than 20 countries and financial institutions pledged to stop public funding of fossil fuel projects abroad. Foreign investment in African oil and gas projects was rapidly drying up, and we in the chamber felt that the only way forward was an African solution. We began calling for an African energy bank that would finance the continent’s energy projects and allow African nations to transition from fossil fuels to renewable energy on their own schedule. Dr. Oramah immediately supported that idea.

11 That support helped pave the way for Afreximbank and the African Petroleum Producers Organization (APPO) to sign a memorandum of understanding in May 2022 and agree to collaborate on establishing an African Energy Transition Bank.

12 “These are challenging times in which we must strive to strike the right balance between the imperatives of mitigating climate change and the urgency of avoiding social disruption as a result of increasingly difficult economic and financial conditions in Africa,” said Dr. .Oramah at that time.

13 His cooperation with APPO was one of the many ways in which Dr. Oramah proved himself to be a true champion of the continent’s energy sector.

14 Under Dr. Oramah’s leadership, Afreximbank has repeatedly helped national oil companies obtain the financing they need. This year alone, Nigerian National Petroleum Company (NNPC) Limited secured a $5 billion corporate finance commitment from Afreximbank, financing that will support major and much-needed investments in Nigeria’s upstream sector.

15 Oramah has been the voice of reason during a critical time for Africa’s energy sector. It has clearly stated that balance is the key to a just energy transition, one that brings the world closer to its net-zero ambitions while giving Africa the same opportunities to capitalize on its oil reserves that other countries have realized. . .

16 The African Chamber of Energy is proud to recognize Dr. Oramah, a champion of Africa and a role model for Africans.

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