26th November, 2024
FirstBank, West Africa’s leading financial institution and provider of financial inclusion services, has announced that it will host the inaugural China-Africa Interbank Association (CAIBA) Forum.
This landmark event, aimed at strengthening economic ties and fostering investments between China and Africa, will take place on 27 November 2024 at the Fraser Suites in Abuja.
Themed “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialization, and Economic Diversification,” the forum will provide a platform for collaboration across various sectors.
Founded in 2018, CAIBA has played a crucial role in promoting financial cooperation between China and Africa, with 16 African banks, including FirstBank, alongside China Development Bank (CDB), ABSA Bank, Ecobank, and other leading financial institutions.
The association seeks to address Africa’s funding gap for industrialization, infrastructure, and poverty alleviation through enhanced international cooperation and cultural exchange.
The CAIBA Forum, co-hosted with China Development Bank, offers a unique opportunity for networking, knowledge sharing, and deal-making, aiming to establish a win-win partnership for joint development among member banks.
Previously held exclusively in Beijing, this year’s forum highlights Nigeria’s pivotal role in strengthening the growing economic relationship between China and Africa, with Abuja as the host city.
FirstBank, with its extensive network across Sub-Saharan Africa, the UK, and China, is well-positioned to facilitate trade and investment flows between the two regions. The bank’s expertise in trade finance, financial inclusion, and corporate and investment banking makes it an ideal partner for China Development Bank in driving sustainable and inclusive financial solutions.
Commenting on the forum, Mr. Olusegun Alebiosu, CEO of FirstBank Group, said, “We are honoured to host this pivotal event that fosters dialogue and collaboration between Chinese and African financial institutions.
“This forum underscores our commitment to bridging the gap between Africa and China, driving economic growth, and supporting the transformation of both economies. Being selected as the host reflects our rich legacy and expertise in African markets, as well as our 130-year history of empowering businesses and communities.”
The forum will bring together government officials, business leaders, and financial experts from both regions. Notable speakers include His Excellency, the Vice President of Nigeria, the Governor of the Central Bank of Nigeria, the Minister of Trade, Industry & Investment, and the Managing Director of China Development Bank. Governors from Lagos, Kano, and Anambra States, as well as representatives from CAIBA member countries, will also participate in discussions on future cooperation.
The forum will feature plenary sessions with key figures such as Dr. Abiodun Adedipe, Founder of BAA Consult; David Ofosu-Dorte, Senior Partner at AB & David Africa; Ugo Obi-Chukwu, Publisher of Nairametrics; Wole Adeniyi, CEO of Stanbic IBTC; and other industry leaders. The event will include a trade exhibition, keynote speeches, and networking opportunities to explore the latest trends and opportunities in China-Africa collaboration.
The establishment of CAIBA represents a significant step toward fostering sustainable growth and prosperity for both China and Africa, laying the groundwork for future partnerships that will shape the economic landscape of both regions.
