The African Export-Import Bank (Afreximbank) has announced the appointment of Dr. George Elombi, a seasoned Cameroonian banker and legal expert, as its next President and Chairman of the Board of Directors.
The decision, ratified during the 32nd Annual Meetings of Afreximbank in Abuja, marks a pivotal moment for the pan-African financial institution as it prepares for a leadership transition in September 2025. Dr. Elombi will succeed Nigeria’s Professor Benedict Oramah, who has led the bank since 2015.
A rigorous selection process unfolded over six months of a global search, with applications screened by an international executive recruitment firm. The Board of Directors shortlisted top candidates before presenting Elombi for final approval by shareholders.
Under Afreximbank’s charter, the president serves a five-year term, renewable once.
In his acceptance speech, Elombi, a 29-year veteran of the bank, pledged to uphold Afreximbank’s mission while driving Africa’s industrialization and economic sovereignty. “I see Afreximbank as a force for industrialising Africa and regaining the dignity of Africans wherever they are,” he declared. He also embraced shareholders’ ambition to expand the bank’s assets to $250 billion within a decade.
Elombi has a stellar track record. He joined Afreximbank in 1996 as a Legal Officer and rose to Executive Vice President. He was the architect of Afreximbank’s corporate structure, including key subsidiaries. He led the bank’s COVID-19 response, securing $2 billion for vaccine access in Africa and the Caribbean. He oversaw equity mobilization, raising $3.6 billion in ordinary capital by April 2025.
His academic and professional pedigree includes a PhD in Commercial Arbitration from the London School of Economics and a Master of Laws from the University of London. He is also a former Law Lecturer at the University of Hull in the UK.
Elombi’s leadership comes at a critical time as Afreximbank expands its role in intra-African trade under the AfCFTA. The bank drives industrialisation through large-scale financing and strengthens financial resilience for African economies.
With his deep institutional knowledge and global expertise, Elombi is well-positioned to steer Afreximbank into its next phase of growth, transforming Africa’s economic landscape.
As Prof. Oramah prepares to step down, Elombi’s appointment signals continuity and ambition for Afreximbank, a bank increasingly seen as a cornerstone of Africa’s financial independence.
