RE:OKEY ORAMAH: THE CALM IN GLOBAL BUSINESS' STORM

 




Please permit me a space in your newspapers to lend my voice on an article on your dailies, published on the 28th October, 2022, titled “Okey Oramah: The Calm in Global Business’ Storm” by a guest columnist. The author depicted our world as though, an abode of endless possibilities, an enclosure of multiple turbulence, both natural and man-made. But alas, in all these adversaries, mother nature has endowed man with capacity and intellect to rule his territory, confront his challenges and transform for greater good. Once in a long while, great people rise and stand above all worthless tendencies of pettiness and flesh greed. They lunch into humanity to deliver influence and shoot for greatness. They deliver a rare kind of leadership through service and they uphold service to excellence through diligence and ingenuity. Okey Oramah belongs in this class.

A renowned change agent, silent revolutionary and an achiever of international repute, with a trial blazing record of excellence and innovative ideas that shine bright light into the global business world, with a deliberate heavy beam into the Africa continent, especially when everywhere seemed dark and hopeless. As a keen follower of Professor Benedict Okey Oramah, I have watched the President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank) lead a soft but unignorable silent revolution and revitalization of the bank into an enviable position and a financial backbone for Africa’s trade and business survival, adding values in all fronts, promoting Africa’s trade and economic development, all within the space of seven productive years. 

Okey’s innovative concepts of creating technology-driven platforms in addressing inter-regional trade and cross border payment systems, have eased the facilitation of payments in local currencies across Africa, reduce deal closure time and transaction costs by a whopping 5billion USD per annum. Under his watch, the bank conceptualized the idea of Collaborative Transit Guarantee Scheme for Africa in other to make movement of merchandise and commodities easier within the continent. He superintended the development of a robust procurement system for health equipment and vaccines distribution and as the Chair of the Board of Trustees of the African Union COVID-19 Response Fund, he was responsible for numerous business palliatives and support responses throughout the period of the pandemic, mitigating the effects of the COVID-19 pandemic on African economy and trade. 

Professor Oramah’s calm in the global business’ storm earned an envious recognition when in November 2019, he was honoured with the prestigious Russian national honour of The Order of Friendship in Kremlin, Moscow, by President Vladmir Putin of Russian, in recognition of his efforts in restoring trade and business relationship between Africa and Russia. He also won twice the African Banker of the Year Award, the most coveted in the industry on the Africa soil. The Ukraine Crisis Adjustment Trade Financing for Africa (UKAFPA) was the bank’s innovative response to problems emanating from effects of the Ukraine-Russia War, a funding basket that is in the range of 4billion USD, meeting needs on trade finance, SMSEs, Climate Change and credit for the procurement of fertilizers, among other things. These innovative ideas, coupled with Professor Oramah’s transformative leadership of the Afreximbank have earned the bank several global investment grade ratings from international agencies, such as the Fitch, Global Credit Rating (GCR), Moody’s etc.  He was honoured with the Commander of the Order of Niger (CON) national award by President Muhammadu Buhari in 2022 in recognition of his innovative ideas and meritorious service that elevated Nigeria and repositioned Africa on the global trade and business stage.

Professor Oramah, an Agricultural Economics graduate of the University of Ibadan, earned his Masters Degree in 1987 and Ph.D in 1991 respectively in Agricultural Economics, all from the Obafemi Awolowo University (OAU) Ile-Ife, Southwest Nigeria. He has authored books and several journal papers published at several international academic and professional platforms, mainly on Trade Financing, Africa Economic Outlooks, SMSEs and Financial Management during Crisis. Okey rose through the ranks in the establishment after joining NEXIM in 1992. In 1994, he was relocated to Cairo, Egypt when the Afreximbank was established. In 2008, he was promoted to Executive Vice-President, understudying the then President Jean-Louis Ekra before he was finally appointed in September 2015 as the President and the Chairman of the Board. A position he has used to showcase his unparallel ingenuity in repositioning the bank for its giant strides and promotion of trade and economic prosperity in Africa and beyond. 

We can only wish Professor Okey Oramah the very best of times ahead.


Adesola Yaqub is a public affairs analyst and can be reached via sholayaq@gmail.com

 


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