Afreximbank Appoints Dr. George Elombi as New President Amidst Strategic Transition
By Patience Ikpeme
The African Export-Import Bank (Afreximbank) has appointed Dr. George Elombi as its next President and Chairman of the Board of Directors, a decision made unanimously by the Bank’s shareholders at its 32nd Annual Meetings in Abuja on June 28, 2025.
Dr. Elombi, a Cameroonian national, will take the helm of the continental financial institution in September 2025, succeeding Professor Benedict Oramah, who is concluding a decade of leadership.
The appointment comes at a pivotal moment for the Bank, following a period of significant expansion and a recent credit rating reassessment by Fitch Ratings. Dr. Elombi becomes the fourth President in Afreximbank’s history, bringing nearly three decades of institutional knowledge to the role.
Having joined the Bank in 1996 as a Legal Officer, Dr. Elombi has ascended through the ranks, holding key positions including Chief Legal Officer, Director and Executive Secretary, and most recently, Executive Vice President for Governance, Legal, and Corporate Services.
His extensive tenure has provided him with a deep understanding of the Bank’s operations and evolution. Before his career at Afreximbank, he taught law at the University of Hull in the United Kingdom and holds a Ph.D. in commercial arbitration from the London School of Economics.
Dr. Elombi’s leadership has been instrumental in shaping Afreximbank’s structure and expanding its operational reach. He played a key role in the establishment of subsidiaries that have enhanced the Bank’s capacity.
As the Chair of the Emergency Response Committee, he led efforts to mobilize over $2 billion for the acquisition and deployment of COVID-19 vaccines across Africa and the Caribbean. Under his supervision, the Bank’s equity mobilization reached $3.6 billion as of April 2025.
In his acceptance speech, Dr. Elombi conveyed his commitment to Afreximbank’s mission, expressing gratitude for the opportunity to serve. He spoke of his vision for the institution as a force for industrializing Africa and restoring the dignity of Africans globally. He conveyed his dedication to work towards a goal of making Afreximbank a $250 billion institution within the next decade.
The appointment followed a rigorous selection process that commenced in January 2025, involving a global call for applications and interviews conducted by an international executive search firm. The Bank’s Board of Directors subsequently presented Dr. Elombi as its recommendation to the General Meeting of Shareholders, which gave its final approval in accordance with the Bank’s Charter.
As he prepares to lead the Bank, Dr. Elombi faces the dual challenge of building on the transformative legacy of his predecessor while steering the institution through a complex global financial landscape. His deep institutional knowledge, legal expertise, and proven leadership are expected to provide a steady hand as the Bank continues to drive Africa’s trade, development, and integration into the global economy.
