November 19, (THEWILL) – FirstBank is set to host the first-ever China-Africa Interbank Association Forum in Nigeria.
This is a move to strengthen economic ties and investments between China and Africa,
Themed “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialization, and Economic Diversification”, the forum is scheduled to hold on November 27, 2024, at the Fraser Suites in Abuja.
Established in 2018, CAIBA was conceived as a platform to promote financial cooperation between China and Africa.
The association comprises 16 African banks, including FirstBank, alongside the China Development Bank, ABSA Bank, Ecobank, United Bank for Africa, RawBank, and other notable financial institutions.
It aims to bridge funding gaps in Africa by fostering partnerships in areas such as industrialization, infrastructure, international cooperation, and cultural exchange.
The forum, co-hosted by the China Development Bank, marks the first time the event will be held outside Beijing, spotlighting Nigeria’s growing role in the China-Africa economic relationship.
In a statement, FirstBank emphasised that the initiative is driven by the need to address Africa’s funding challenges for industrialization, infrastructure development, and poverty alleviation.
Speaking ahead of the event, the Group CEO of FirstBank, Olusegun Alebiosu, highlighted the significance of the forum.
He said, “We are honoured to host this pivotal event that fosters dialogue and collaboration between Chinese and African financial institutions.
“This forum reinforces our commitment to bridging the gap between Africa and China, catalyzing economic growth and development. The selection of FirstBank as the host is a testament to our rich legacy, deep expertise in African markets, and an impressive 130-year history of empowering businesses and communities to thrive.
“We are proud to support the continent’s economic transformation and growth and remain dedicated to exploring the partnership opportunities this forum will bring for the mutual benefit of China and Africa.”
The event will bring together government officials, business leaders, and financial experts from both regions.
Expected speakers include Nigeria’s Vice President, the Governor of the Central Bank of Nigeria, the Minister of Trade, Industry & Investment, and the Managing Director of China Development Bank.
Other notable attendees include ambassadors of CAIBA member countries, governors from Lagos, Kano, and Anambra States, and representatives from the China-Africa Development Fund and African Export-Import Bank.
The forum will feature a plenary session with industry experts, including Dr. Abiodun Adedipe, Founder and Chief Consultant at BAA Consult; David Ofosu-Dorte, Senior Partner at AB & David Africa; and Ugo Obi-Chukwu, Publisher of Nairametrics.
Other speakers include Wole Adeniyi, CEO of Stanbic IBTC; Bamidele Abu, CEO of ABSA Nigeria Capital Markets; and Mrs. Kouassigan Dovi Eliane Khady, Head of Financial Institutions at the West African Development Bank.
The event will also host a trade exhibition, keynote speeches, and networking sessions aimed at exploring trends and opportunities in China-Africa cooperation.
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