Elombi Appointed Next Afreximbank President After Decades of Service
ABUJA — The African Export-Import Bank has named Dr. George Elombi as its next President and Chairman of the Board of Directors, marking a major leadership transition for the pan-African trade financier. The appointment was approved Saturday during the bank’s 32nd annual general meeting in Abuja.
Elombi, a Cameroonian national and Afreximbank insider since 1996, will take over from Professor Benedict Oramah in September. Oramah has led the bank since 2015.
Elombi becomes the fourth president of the institution since its founding in 1993. His appointment followed a competitive, global recruitment process launched in January 2025, which culminated in the board recommending him for final approval by shareholders.
“I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision,” Elombi said after his confirmation. “I see Afreximbank as a force for industrializing Africa and regaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
He also pledged to pursue the goal, previously laid out by Oramah, of growing the bank into a US$250 billion institution within a decade.
Elombi’s credentials include a Ph.D. in commercial arbitration and a Master of Laws from the London School of Economics, as well as a law degree from the University of Yaoundé. He began his career with the bank as a legal officer and rose through the ranks over 29 years to become Executive Vice President overseeing governance, legal affairs, and corporate services.
As chair of Afreximbank’s Emergency Response Committee, Elombi led the mobilization of over $2 billion for COVID-19 vaccine procurement across Africa and the Caribbean. He also directed efforts that raised $3.6 billion in equity for the bank as of April 2025.
His appointment comes at a pivotal time as Afreximbank continues its push to deepen intra-African trade and expand its financial footprint. At the end of 2024, the bank reported total assets and contingencies of over $40.1 billion and shareholder equity of $7.2 billion.
The bank’s initiatives include the Pan-African Payment and Settlement System (PAPSS), a $10 billion adjustment fund to support participation in the African Continental Free Trade Area (AfCFTA), and specialized subsidiaries like AfrexInsure and the Fund for Export Development Africa.
Elombi’s term is set for five years, with the possibility of one renewal under Afreximbank’s charter. His leadership is expected to shape the next phase of the institution’s growth as it reinforces its role in Africa’s trade and economic development.
