Afreximbank Cancels Annual Meeting Over Ebola Outbreak Fears

The African Export-Import Bank (Afreximbank) has cancelled its annual meeting scheduled to hold next week in the Egyptian resort city of El Alamein following growing concerns over the Ebola outbreak in parts of Central Africa.

The multilateral financial institution said the decision was taken jointly with Egyptian authorities and the African Union as health officials intensify efforts to contain the spread of the deadly virus across affected countries.

According to reports, the Democratic Republic of Congo (DRC) has recorded 782 Ebola cases since an outbreak was declared a month ago, raising concerns over regional travel and the safety of large international gatherings. Uganda has also reported infections linked to the disease.

Afreximbank in a statement said shareholder business that was expected to be conducted during the annual meeting would now be handled through correspondence. The bank stated that the Egyptian government had similarly postponed other international events scheduled for this month as part of precautionary measures aimed at safeguarding public health.

“These decisions were taken on public health and safety grounds in light of the evolving health situation in parts of the continent,” Afreximbank said. The cancellation marks a significant disruption to one of Africa’s major financial gatherings, which traditionally brings together policymakers, investors, development finance institutions and business leaders from across the continent.

Afreximbank is jointly owned by African governments, regional financial institutions and private investors, and plays a critical role in financing trade and economic development across Africa.

The development comes weeks after the African Development Bank (AfDB) proceeded with its annual meetings in Brazzaville, Republic of Congo, shortly after the Ebola outbreak was declared in neighbouring Democratic Republic of Congo.

Health authorities across Africa have continued to monitor the situation closely amid concerns that the outbreak could affect travel, trade and regional engagements if not swiftly contained.