Benedict Oramah Receives Mohammed Barkindo Lifetime Achievement Award for Transformative Impact on African Energy Sector

Professor Benedict Okey Oramah, President and Chairman of the Board of Directors at the African Export-Import Bank (Afreximbank), has been awarded the esteemed Mohammed S. Barkindo Lifetime Achievement Award at African Energy Week 2024 in Cape Town, South Africa.

This award, which commemorates the former OPEC Secretary-General Dr Mohammed Barkindo, is regarded as the highest accolade in African energy, recognising those who have made lasting contributions to the sector.

The award acknowledges Oramah’s influential work spanning over three decades, during which he has been instrumental in fostering sustainable development across Africa by facilitating vital financing for oil, gas, and infrastructure projects.

Since taking the helm at Afreximbank in 2015, Prof. Oramah has championed innovative financing structures aimed at enhancing energy access and stimulating industrial growth across the continent.

Afreximbank, under Prof. Oramah’s leadership, has mobilised over $70 billion to support Africa’s energy industry. Among his accomplishments is the bank’s provision of over $5 billion to support refinery projects in Nigeria, Angola, and Senegal, aimed at reducing Africa’s dependence on refined product imports.

The bank has also become an Adviser and Settlement Bank for NGN-denominated crude sales to Nigerian refineries, a model expected to save African oil-producing countries several $100,000,000 annually in transaction fees.

One of Prof. Oramah’s hallmark initiatives was the signing of the Africa Energy Bank (AEB) Charter in Egypt in June 2024. Developed in collaboration with the African Petroleum Producers Organisation (APPO), this agreement aims to unlock funding to meet Africa’s energy demands while aligning with environmental sustainability goals.

In his acceptance remarks, Prof. Oramah expressed gratitude for the award, stating, “It is a great honour to be awarded the Mohammed S. Barkindo Lifetime Achievement Award. Whilst a great honour for me personally, this award reflects the work and dedication of many others, including my colleagues at Afreximbank and our various partners.”

He then emphasised Afreximbank’s ongoing commitment to “reducing energy deficit on the continent and ensuring we are self-sufficient.”

Oramah’s impact extends into renewable energy, with Afreximbank’s recent financing of projects like the €1.3 billion rural electrification project in Angola, the €147 million solar initiative in Cameroon, and the $363 million gas processing project in Rwanda. Many of these projects have received industry awards for their impact and innovation, further cementing Oramah’s legacy as a transformative leader in African energy.

Ozioma Samuel-Ugwuezi

Follow us on: