The president of African Export-Import Bank, George Elombi, has called on African journalists to promote more balanced reporting on the continent, arguing that persistent negative narratives continue to discourage investment and undermine economic development.
Speaking at a media roundtable in Abuja, Elombi said international coverage of Africa remains disproportionately focused on conflict, political instability, natural disasters and humanitarian crises, while giving insufficient attention to the continent’s industrial progress, infrastructure development and business successes.
He argued that this imbalance has contributed to perceptions of Africa as a high-risk investment destination, making it more difficult for governments, businesses and financial institutions to attract capital and technical expertise.
Elombi also criticised international credit rating agencies, saying African financial institutions are often assigned lower ratings simply because they operate on the continent, despite Africa recording comparatively low loan default rates in many markets.
According to him, such assessments increase borrowing costs and limit access to financing needed for development projects.
To address what he described as structural bias, Elombi reiterated support for the African Union’s initiative to establish an independent African credit rating agency that would assess companies and institutions using methodologies better aligned with the continent’s economic realities.
Highlighting Afreximbank’s development agenda, Elombi pointed to the African Medical Centre of Excellence in Abuja as a flagship healthcare investment designed to reduce medical tourism by providing specialised treatment in areas including cardiology and haematology.
He said the bank has also established a $75 million endowment fund to support research into diseases such as sickle cell disorder, which disproportionately affects people of African descent.
Elombi further cited Afreximbank’s $2.5 billion financing support for the Dangote Refinery, describing the project as an example of Africa’s capacity to process its own natural resources, strengthen energy security and reduce dependence on imported refined petroleum products.
On regional integration, he said the Pan-African Payment and Settlement System is now operational in 28 African countries, with participation from their central banks as well as about 190 commercial banks and financial technology firms.
He said the platform enables cross-border trade to be settled in local African currencies, reducing reliance on the U.S. dollar and supporting implementation of the African Continental Free Trade Area.
Elombi urged African media organisations to consistently highlight stories of innovation, industrialisation and infrastructure development, arguing that a more balanced portrayal of the continent would help attract investment, strengthen confidence and support sustainable economic growth.
