The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution.
Dr. Elombi, whose appointment was confirmed on Saturday, becomes the fourth President to lead Afreximbank since its establishment in 1993. He succeeds Professor Benedict Oramah, who has served in the role since 2015 and is set to step down in September 2025.
The appointment was a key outcome of the Bank’s 32nd Annual Meetings and related events, held from June 25 to 28, 2025, in Abuja, Nigeria. The formal announcement came during the Annual General Meeting of shareholders on June 28.
A Cameroonian national, Dr. Elombi has been with Afreximbank since 1996, beginning his career as a Legal Officer. Over nearly three decades, he has risen through the ranks to become Executive Vice-President for Governance, Legal, and Corporate Services. He previously served as 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, Dr. Elombi lectured in law at the University of Hull in the United Kingdom.
He has played a central role in shaping the Bank’s institutional structure, including the creation of key subsidiaries that have expanded its capacity to deliver on its mandate. As Chair of the Emergency Response Committee, he led the Bank’s response to the COVID-19 pandemic, mobilising over $2 billion for vaccine acquisition and distribution across African and Caribbean nations.
Under his leadership in the Equity Mobilisation and Investor Relations department, Afreximbank raised $3.6 billion in ordinary equity as of April 2025.
In his acceptance speech, Dr. Elombi reaffirmed his dedication to the Bank’s 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 regaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
He also embraced the vision, championed by his predecessor, to grow Afreximbank into a $250 billion institution within the next decade.
Dr. Elombi holds a Master of Laws (LL.M.) and a Ph.D. in Commercial Arbitration from the London School of Economics and Political Science, University of London. He earned his Maîtrise en Droit from the University of Yaoundé in 1989.
His appointment followed a rigorous selection process that began in January 2025, including a global call for applications published in international media and on the Bank’s website. Shortlisted candidates were interviewed by a leading international executive search firm. The final recommendation was made by the Board of Directors and approved by the General Meeting of Shareholders.
According to the Afreximbank Charter, the President is appointed for a renewable five-year term by the shareholders upon the recommendation of the Board.
NAN
