African Business Stories celebrates one year of impact
Prof. Benedict Oramah, President Afreximbank and Akaego Okoye, Founder African Business Stories
On the sidelines of the 80th United Nations General Assembly, African Business Stories (ABS) marked the one-year anniversary of its flagship Roundtable Series with two milestones: the presentation of its inaugural Africa Champion Award to Benedict Oramah, President and Chairman of the African Export–Import Bank (Afreximbank), and the launch of its first Impact Report, capturing a year of progress in closing Africa’s $42 billion gender financing gap.
The event opened with special remarks from Congresswoman Sheila Cherfilus-McCormick (Florida’s 20th District), who underscored the urgency of shifting from aid to trade in U.S.–Africa relations.
She highlighted new U.S. legislation enabling diaspora remittances to be reinvested as capital and reaffirmed her commitment to the renewal of the African Growth and Opportunity Act (AGOA).
“When women start businesses, they create jobs, change communities, and shift entire economies,” said Cherfilus-McCormick.
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The award was presented by Florie Liser, President & CEO of the Corporate Council on Africa, who praised Prof. Oramah’s transformative leadership in expanding Afreximbank’s assets and guarantees eight-fold, growing revenues sevenfold, and ensuring women, youth, and SMEs have access to trade and capital opportunities.
“Prof. Oramah embodies the foresight to envision a stronger Africa through trade, the resolve to mobilise billions in capital for transformative initiatives, and the commitment to ensure that women, youth, and SMEs are not left behind,” said Liser.
In his acceptance remarks, Oramah underscored the importance of narrative ownership and boldness in Africa’s development journey:
“The problem of Africa is that others have been telling our stories — and telling them in ways that put us down. We must tell our own stories and define African best practices.”
He also called for ambition in mobilising resources at scale:
“Small projects rarely succeed. If we want to compete globally, Africa must think big and act boldly.”
The ABS Impact Report, unveiled by Founder Akaego Okoye, documents five high-level convenings held across New York, Washington, D.C., and Luanda, Angola over the past year.
The $42 billion funding gap is not just a challenge, it is an opportunity,” said Akaego Okoye. “This first year has proven that when women are seen, connected, and resourced, they don’t just grow businesses — they transform economies. ABS will continue to create the access and partnerships needed to catalyse their success.”
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These gatherings brought women founders face-to-face with policymakers, financiers, and global leaders, and laid the groundwork for new access to markets and capital. The report serves both as a record of impact and a roadmap for future action.
Alongside these milestones, the Roundtable featured: A Founders Panel with Ifedayo Agoro (Dang! Lifestyle) and Lesego Serolong-Holzapfel (Moedi Wines), sharing the realities of accessing capital, navigating trade barriers, and scaling globally.
A Public–Private Dialogue with Hajiya Imaan Sulaiman-Ibrahim (Nigeria’s Minister of Women Affairs) and Cheryl Buss (CEO, Absa International), highlighting how policy frameworks and innovative financial products must align to unlock scale for women entrepreneurs.
The signing of an MOU between Nigeria’s Federal Ministry of Women Affairs and Domena Commodities Limited to expand women’s participation in agribusiness and trade.
