The African Export-Import Bank (Afreximbank) has called on African countries to produce and process more of their raw materials locally to retain greater value and create jobs on the continent.
The bank’s Director of Intra-African Trade and Export Development (Creatives and Diaspora), Temwa Gondwe, said Africa’s industrialisation must move beyond the export of raw materials towards producing finished goods and building regional value chains.
Mr Gondwe made the remarks on behalf of Afreximbank President and Chairman of the Board of Directors, Dr George Elombi, during the 2026 YGL Convening of the ADF Africa–Diaspora Leadership Programme in Lagos.
Speaking during a visit to the 650,000-barrel-per-day Dangote Refinery, Mr Gondwe cited the facility as evidence of Africa’s capacity to develop industries on a global scale.
Afreximbank supported the refinery’s development by underwriting US$2.5 billion of a US$4 billion syndicated loan and providing a US$1 billion working-capital facility.
Mr Gondwe said achieving greater industrial value retention would require investment not only in production but also in power, transport, logistics, payment systems and other infrastructure connecting African businesses to markets.
He also highlighted the role of the African Diaspora in supporting industrialisation, saying Afreximbank’s Global Africa Strategy was designed to mobilise Diaspora capital, expertise and networks for African businesses and industries.
Through initiatives including the Global Africa Gateway, the Caribbean Initiative and CANEX, the bank is seeking to create avenues for investment, market access, knowledge exchange and enterprise development across the global African community.
The objective, he said, is to channel more Diaspora resources into productive investment and connect African businesses to the capital, skills and markets required to grow.
