Abuja, Nigeria – The African Export-Import Bank (Afreximbank) has appointed Dr. George Elombi as its new President and Chairman of the Board, effective September 2025. He succeeds Prof. Benedict Oramah, who has led the institution since 2015.
Key Decisions from Afreximbank’s 32nd AGM
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New Leadership: Elombi, a Cameroonian legal and financial expert, will steer the bank’s ambitious 10-year plan to grow assets from $42.7B to $250B.
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Dividend & Funding Approvals: Shareholders approved a $350M dividend, including a $50M donation for a concessional finance window. An additional $700M was pledged for the same initiative.
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Shareholder Commitment: Class-A shareholders reaffirmed support for Afreximbank’s founding treaty obligations.
Elombi’s Vision: Industrializing Africa
In his acceptance speech, Elombi—a 29-year veteran of the bank—pledged to:
Expand infrastructure financing
Boost export processing zones
Strengthen Africa’s global trade position
“Afreximbank must be a force for industrialization and African dignity,” he declared. “I will build on my predecessor’s legacy—but aim higher.”
From Legal Officer to President
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Career Journey: Joined Afreximbank in 1996 as a legal officer, rising to Executive Vice President (Governance, Legal & Corporate Services).
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Key Achievements: Instrumental in structuring Afreximbank’s subsidiaries and legal frameworks.
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Education: Holds a Ph.D. in commercial arbitration (LSE) and a law degree from University of Yaoundé.
The Road Ahead
With Africa facing trade financing gaps and global economic headwinds, Elombi’s leadership will be crucial in:
Scaling up intra-African trade under AfCFTA
Mobilizing capital for critical infrastructure
Reducing the continent’s $100B+ annual trade deficit
Bottom Line: As Afreximbank eyes 10X growth, Elombi’s deep institutional knowledge and bold vision could redefine Africa’s financial landscape.
