The African Export-Import Bank (Afreximbank), a linchpin of the continent’s trade and development financing, has officially appointed Dr. George Elombi as its next President and Chairman of the Board of Directors.
This pivotal decision was announced during the Bank’s 32nd annual meetings, held from June 25 to 28, 2025, in Abuja, Nigeria, culminating in the formal annual general meeting of shareholders on June 28.
Dr. Elombi becomes the fourth President to lead the institution since its establishment in 1993, succeeding Professor Benedict Oramah, who has held the presidency since 2015 and will step down in September 2025.
Dr. Elombi, a Cameroonian national, brings an extraordinary depth of institutional memory and expertise to the role. Having joined Afreximbank in 1996 as a Legal Officer, he has risen through its ranks over nearly three decades of service. His career has included key positions such as Chief Legal Officer, Director and Executive Secretary, and most recently, Executive Vice President for Governance, Legal and Corporate Services.
Before joining the Bank, Dr. Elombi taught law at the University of Hull in the United Kingdom, laying the foundation for a career distinguished by both academic rigor and practical leadership. His educational credentials include a Master of Laws (LL.M.) and a Ph.D. in commercial arbitration from the London School of Economics, University of London, as well as a Maitrise-en-Droit from the University of Yaoundé.
Driving Strategic Initiatives and Crisis Response
Beyond his legal and governance expertise, Dr. Elombi has shaped the Bank’s growth trajectory in profound ways. As Chair of the Emergency Response Committee, he spearheaded Afreximbank’s COVID-19 response, mobilising over $2 billion for vaccine acquisition and deployment across Africa and the Caribbean. His stewardship of the Equity Mobilisation and Investor Relations department saw the Bank’s ordinary equity grow to USD 3.6 billion as of April 2025.
He was also instrumental in establishing key subsidiaries that have broadened Afreximbank’s capacity to deliver on its trade finance and development mandate. This structural expansion has positioned the Bank as a more dynamic player in Africa’s push for industrialisation and self-reliance.
Dr. Elombi’s appointment followed a comprehensive, transparent selection process initiated in January 2025. A global call for applications attracted candidates from around the world. Shortlisted contenders were interviewed by an international human resource executive search firm. The strongest candidates were then presented to the Board of Directors, which formally recommended Dr. Elombi to the General Meeting of Shareholders for final approval.
Under Afreximbank’s Charter, the President serves a five-year term, renewable once. This governance framework reflects the Bank’s commitment to continuity and accountability at the highest levels of leadership.
A Vision for Africa’s Economic Renaissance
In his acceptance speech, Dr. Elombi underscored his deep commitment to advancing Afreximbank’s mission. He reflected on the institution’s journey and the collaborative spirit that has driven its achievements.
“I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision, its mandate, as well as its growth. As we look to the future, I see Afreximbank as a force for industrialising Africa and for regaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
Dr. George Elombi
Signalling continuity of ambition, Dr. Elombi also pledged to carry forward the shareholders’ aspiration, expressed by Professor Oramah, to grow the institution into a $250 billion bank within the next decade—a goal that would transform the scale and impact of African trade finance.
As Afreximbank prepares for this leadership transition, stakeholders across the continent and beyond will watch closely to see how Dr. Elombi channels his experience and vision into action. His appointment marks both the culmination of a remarkable professional journey and the start of a new chapter in Afreximbank’s pursuit of economic integration, industrialisation, and prosperity for Africa.
READ ALSO: NPP Warns Against NDC’s Push To Oust Embattled Chief Justice
