FirstBank to Host Inaugural China-Africa Interbank Association Forum in Abuja

FirstBank, a leading financial institution in West Africa, is set to host the inaugural China-Africa Interbank Association Forum in Nigeria. The event, themed “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialization and Economic Diversification,” will take place on November 27, 2024, at the Fraiser Suites, Abuja.

This milestone forum aims to strengthen economic cooperation and facilitate investment flows between China and Africa, highlighting Nigeria’s central role in advancing this partnership.

Founded in 2018, CAIBA brings together 16 African banks, including FirstBank, alongside China Development Bank (CDB) and other financial institutions such as Ecobank, the Development Bank of South Africa, and the West African Development Bank. The association focuses on addressing Africa’s funding challenges in infrastructure, industrialization, and poverty alleviation while fostering cross-border partnerships.

The forum will be held outside of Beijing for the first time, spotlighting Nigeria’s strategic importance in the China-Africa economic relationship. By hosting the event, FirstBank aims to create a platform for dialogue, deal-making, and innovative solutions to drive mutual growth.

China Development Bank will co-host the forum and will bring together industry leaders, policymakers, and financial experts from both regions. Participants will engage in discussions on trade, industrialization, and economic diversification while exploring opportunities for sustainable development.

Speaking on the significance of the event, Mr. Olusegun Alebiosu, CEO of FirstBank Group, remarked:

“Hosting the CAIBA Forum underscores our commitment to building bridges between Africa and China. As a bank with deep expertise and a 130-year legacy, we are honoured to facilitate partnerships that drive economic transformation. This forum will serve as a catalyst for innovation and inclusive growth across the continent.”

The forum will feature prominent speakers, including:

• Nigeria’s Vice President
• The Governor of the Central Bank of Nigeria
• The Minister of Trade, Industry, and Investment
• The Managing Director of China Development Bank
• Governors of Lagos, Kano, and Anambra States
• Ambassadors from CAIBA member nations

Highlights of the event include a plenary session with industry thought leaders like Dr. Abiodun Adedipe, Ugo Obi-Chukwu of Nairametrics, and Wole Adeniyi of Stanbic IBTC. Attendees can also look forward to trade exhibitions, networking opportunities, and discussions on emerging trends in China-Africa cooperation.

With its extensive footprint across Sub-Saharan Africa, the UK, and China, FirstBank is uniquely positioned to bridge the gap between African and Chinese markets. The bank’s expertise in trade finance, corporate banking, and financial inclusion makes it a vital partner in advancing economic integration and sustainable development.

The CAIBA Forum represents a pivotal step in strengthening China-Africa partnerships, creating pathways for innovation, and fostering long-term economic growth for both regions.