First Bank of Nigeria (FBN) is set to host a groundbreaking event: the China-Africa Interbank Association (CAIBA) forum. Scheduled for November 27 at the Fraiser Suites in Abuja, this forum is the first of its kind to be held in Nigeria. It aims to deepen economic relationships and foster stronger investment ties between China and Africa.
Focus on Trade and Modernization
According to Folake Ani-Mumuney, FBN’s Group Head of Marketing and Corporate Communications, the forum will center on the theme: “Joining Hands to Advance Modernisation and Strengthening China-Africa Trade, Industrialisation, and Economic Diversification.” The discussions will tackle issues such as trade development, industrialization, and collaborative economic opportunities.
This initiative is part of a larger effort by CAIBA, which was formed in 2018 to strengthen financial collaboration between China and African nations. Since its inception, CAIBA has worked to foster partnerships in areas like infrastructure, international cooperation, and cultural exchange.
A Strong Network of Banks
CAIBA brings together 16 banks from across Africa, including FirstBank, China Development Bank (CDB), ABSA Bank, Ecobank, and the United Bank for Africa (UBA). These banks represent a robust network designed to bridge financial gaps in Africa, particularly in areas like industrialization, infrastructure development, and poverty alleviation.
Ani-Mumuney emphasized the significance of this forum, stating:
“The CAIBA Forum, co-hosted by China Development Bank, offers a unique opportunity for knowledge sharing, networking, and deal-making. This will foster win-win cooperation and promote joint development among member banks.”
Previously held exclusively in Beijing, the decision to host the forum in Nigeria this year marks a significant milestone. It underscores Nigeria’s critical role in the burgeoning economic partnership between China and Africa.
FirstBank: A Strategic Partner
FirstBank’s extensive presence across Sub-Saharan Africa, the UK, and China makes it a pivotal player in facilitating trade and investment flows between China and Africa. Ani-Mumuney highlighted the bank’s expertise in financial inclusion, trade finance, and corporate banking, which aligns seamlessly with China Development Bank’s focus on sustainable financial solutions.
Olusegun Alebiosu, CEO of FirstBank Group, expressed the bank’s pride in hosting the event. 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, catalysing economic growth and development.”
He also noted that FirstBank’s 130-year history of supporting businesses and communities positions it as a leader in driving economic transformation across the continent.
High-Level Participation
The event will feature a host of dignitaries and key stakeholders, including Vice President Kashim Shettima and Central Bank of Nigeria (CBN) Governor Yemi Cardoso. They will be joined by other prominent Nigerian figures such as the Minister of Trade, Industry & Investment, the Federal Capital Territory (FCT) Minister, and the governors of Lagos, Kano, and Anambra states.
Additionally, representatives from international organizations like the African Export–Import Bank and the China-Africa Development Fund will be in attendance. The forum will provide an opportunity for participants to interact with government officials, business leaders, and financial experts from both regions.
Agenda and Highlights
The CAIBA forum will feature a plenary session with distinguished speakers, including:
- Dr. Abiodun Adedipe, Founder & Chief Consultant, BAA Consult
- David Ofosu-Dorte, Senior Partner, AB & David Africa
- Ugo Obi-Chukwu, Publisher, Nairametrics
- Wole Adeniyi, CEO, Stanbic IBTC
- Bamidele Abu, CEO, ABSA Nigeria Capital Markets
- Mrs. Kouassigan Dovi Eliane Khady, Head of Financial Institutions, West African Development Bank (BOAD)
Beyond the plenary session, the event will include keynote speeches, a trade exhibition, and networking opportunities. These activities aim to explore the latest trends and opportunities in China-Africa cooperation, providing a platform for partnerships and deal-making.
A Platform for Growth
Ani-Mumuney explained that the forum is not just about discussions; it’s about actionable steps to drive progress:
“With its extensive network, FirstBank is uniquely positioned to spotlight Nigeria’s pivotal role in the China-Africa economic relationship. This forum will unlock opportunities for businesses and governments in both regions to work together for mutual benefit.”
Strengthening Ties for Mutual Benefit
As the global economy becomes increasingly interconnected, forums like CAIBA play a crucial role in fostering international partnerships. The collaboration between China and Africa is particularly significant, given the continents’ shared interests in trade, infrastructure, and sustainable development.
With its mix of high-level discussions, practical networking opportunities, and a focus on economic diversification, the upcoming CAIBA forum is poised to set a new benchmark for China-Africa cooperation. For Nigeria, hosting this event is a significant step in cementing its role as a leader in the evolving relationship between the two regions.
