The shareholders of the African Export-Import Bank (Afreximbank) have formally appointed Dr George Elombi as the next President and Chairman of the Board of Directors, marking a significant transition in the leadership of one of Africa’s most prominent financial institutions. The announcement was made during the Bank’s 32nd Annual Meetings held in Abuja, Nigeria, from 25 to 28 June 2025. Dr Elombi becomes the fourth individual to hold the position since Afreximbank’s inception in 1993.
Dr Elombi, a Cameroonian national, succeeds Professor Benedict Oramah, who has led the Bank since 2015 and is scheduled to step down in September 2025. The shareholders’ meeting on 28 June 2025 served as the final endorsement of the Board’s recommendation, concluding a global and merit-based selection process launched in January 2025. This process included international advertising and rigorous interviews conducted by a global executive search firm. The selection reflects Afreximbank’s commitment to transparency, excellence, and leadership continuity.
With a tenure at Afreximbank dating back to 1996, Dr Elombi brings a wealth of institutional memory and executive experience. Having started as a Legal Officer, he progressively rose through the ranks, eventually serving as Executive Vice President in charge of Governance, Legal, and Corporate Services. His prior roles within the institution include Director and Executive Secretary (2010–2015), Deputy Director, Legal Services / Executive Secretary (2008–2010), Chief Legal Officer (2003–2008), and Senior Legal Officer (2001–2003). Prior to joining Afreximbank, he held an academic position at the University of Hull in the United Kingdom, where he lectured in law.
Dr Elombi has played a foundational role in shaping the institution’s architecture and governance frameworks. Notably, he led the formation of several key subsidiaries that have strategically broadened the Bank’s operational and financial scope. He was instrumental in directing the Bank’s COVID-19 response as Chair of the Emergency Response Committee, where he successfully coordinated the mobilisation of over US$2 billion for vaccine procurement and distribution across African and Caribbean nations. In his capacity overseeing Equity Mobilisation and Investor Relations, Dr Elombi has steered the Bank to raise an impressive US$3.6 billion in ordinary equity as of April 2025.
In his acceptance speech, Dr Elombi reaffirmed his unwavering commitment to Afreximbank’s developmental mission, stating:
“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 re-gaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
Dr Elombi also echoed the ambition articulated by his predecessor, endorsing the vision of transforming Afreximbank into a US$250 billion financial powerhouse within the next decade. The scale of this ambition underscores the strategic role the Bank envisions for itself in Africa’s industrialisation, intra-African trade, and economic integration, aligning with broader continental goals such as those of the African Union’s Agenda 2063.
Dr Elombi holds a Master of Laws (LL.M.) and a PhD in Commercial Arbitration from the London School of Economics and Political Science, University of London. He also holds a ‘Maîtrise en Droit’ from the University of Yaoundé, Cameroon, awarded in 1989.
Under Afreximbank’s charter, the President is appointed by the General Meeting of Shareholders on the recommendation of the Board of Directors, for a renewable five-year term. With this new chapter, Afreximbank seeks to deepen its role as a catalyst for Africa’s trade-led transformation, guided by a leader whose credentials, experience, and commitment are deeply embedded in the Bank’s own trajectory.
