FirstBank Set to Host China-Africa Interbank Association Forum

FirstBank, a leading financial institution in West Africa, has announced its hosting of the China-Africa Interbank Association (CAIBA) Forum, aimed at bolstering economic cooperation and investment between China and Africa.

The forum is scheduled for November 27, 2024, at Fraiser Suites in Abuja, Nigeria.

Themed “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialization, and Economic Diversification,” the event will serve as a platform for fostering partnerships in infrastructure, trade, industrialization, and economic diversification between Chinese and African stakeholders.

Established in 2018, CAIBA comprises 16 African banks, including FirstBank, China Development Bank (CDB), ABSA Bank, West African Development Bank, and others. The association addresses critical funding needs across Africa for industrialization, infrastructure development, and poverty alleviation.

The upcoming forum, co-hosted by the China Development Bank, is set to feature knowledge-sharing sessions, networking opportunities, and deal-making discussions. Traditionally held in Beijing, the decision to host the event in Nigeria underscores the country’s pivotal role in the China-Africa economic partnership.

FirstBank’s Chief Executive Officer, Olusegun Alebiosu, expressed pride in hosting the forum, highlighting the bank’s extensive expertise in African markets and its 130-year legacy of supporting businesses. He remarked:

“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.”

With its vast network spanning Sub-Saharan Africa, the UK, and China, FirstBank is well-positioned to facilitate trade and investment flows. The bank’s proficiency in financial inclusion, trade finance, and sustainable banking solutions further strengthens its partnership with China Development Bank.

This event is expected to advance the shared goal of economic transformation, fostering mutually beneficial opportunities for China and Africa.
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