ABUJA, Nigeria (CMC)– 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.

He becomes the fourth President to lead the bank since its establishment in 1993. His appointment was one of the key decisions of the 32nd Afreximbank group annual meetings and associated events held here this week, with the formal annual general meeting of shareholders taking place on Saturday.

Elombi succeeds Professor Benedict Oramah, who has served as President and Chairman of the Board of Directors since 2015, and who will be stepping down in September 2025.

A Cameroonian national, Elombi, has been with Afreximbank since 1996, joining as a legal officer.
He rose through the ranks to become Executive Vice President, Governance, Legal and Corporate Services.

Prior to joining Afreximbank, he taught law at the University of Hull, United Kingdom. Elombi played a pivotal role in establishing Afreximbank group’s structure, including the formation of key subsidiaries that have expanded the bank’s capacity to deliver on its mandate.

As Chair of the Emergency Response Committee, he led the bank’s response to the COVID-19 crisis, mobilising over US$2 billion for vaccine acquisition and deployment across African and Caribbean nations.

Under his supervision of the Equity Mobilisation and Investor Relations department, the Bank’s total ordinary equity mobilised amounted to US$3.6 billion as at April 2025.

In his acceptance speech, Elombi expressed a deep commitment to the bank’s mission and future, 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 accepted the shareholders’ desire as expressed by his predecessor to make the institution a US$250 billion bank in 10 years.