African Export-Import Bank (Afreximbank) has cancelled a series of events which were set around its 27th Annual General Meeting due to the COVID-19 pandemic, resolving to hold Shareholders’ meeting by correspondence.
Afreximbank President Prof. Benedict Oramah said that the decision to hold the Shareholders’ meeting by correspondence was made after careful consideration of all available options to ensure the bank complies with its governance requirements.
According to Oramah, the seminars component of the 27th Annual Meetings, which were expected to be held from June 10 to 13 in Sharm El Sheikh, Egypt, were canceled in light of global mobility restrictions and the need to ensure social distancing imposed by the COVID-19 pandemic.
“Our priority is to guarantee the wellbeing and comfort of our shareholders and partners which requires that we comply with health and safety protocols put in place by our host country,” he said in a statement.
Oramah explained that the decisions, while difficult, were necessary and in line with the bank’s proactive efforts to combat the pandemic.
“As a leading Pan African institution, Afreximbank’s response strategy has been to lead by example in taking proactive and timely measures,” he said.
“We remain fully dedicated to supporting efforts to mitigate the adverse impact of the COVID-19 pandemic on African economies and its people. We will continue to be at the frontline with bold initiatives, forging global partnerships towards mitigating the health and economic consequences of the COVID-19 pandemic on Africa”.
Afreximbank Annual Meetings are among the bank’s most prominent events.
They are sought-after keenly by banking industry professionals, trade and trade finance practitioners and other parties involved in economic development from across Africa and beyond.
They are also attended by business and political leaders and have been ranked among the most important gatherings of economic decision-makers in Africa.
Afreximbank’s next Annual General Meetings will take place in 2021.