Addis Ababa, June 28, 2025 (FMC) — The African Export-Import Bank (Afreximbank) has appointed Dr. George Elombi as its next President and Chairman of the Board of Directors, making him the fourth individual to lead the institution since its establishment in 1993.
The appointment was announced during the 32nd Afreximbank Annual Meetings held in Abuja, Nigeria, from June 25 to 28, with the decision finalized at the formal General Meeting of Shareholders on Saturday.
Dr. Elombi will succeed Professor Benedict Oramah, who has served in the role since 2015 and will step down in September 2025.
A Cameroonian national, Dr. Elombi has been with Afreximbank since 1996, rising through the ranks from Legal Officer to his current role as Executive Vice President for Governance, Legal and Corporate Services. Over the years, he has played a central role in shaping the Bank’s governance structure and expanding its institutional reach, including the formation of key subsidiaries.
He also led the Bank’s emergency response during the COVID-19 pandemic, mobilizing over $2 billion to support vaccine acquisition and distribution across Africa and the Caribbean. Under his oversight of the Equity Mobilisation and Investor Relations department, Afreximbank raised $3.6 billion in ordinary equity by April 2025.
In his acceptance remarks, Dr. Elombi pledged to build on the Bank’s legacy, saying, “As we look to the future, I see Afreximbank as a force for industrialising Africa and for re-gaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
He also embraced the shareholders’ vision, as conveyed by his predecessor, to grow Afreximbank into a $250 billion institution over the next decade.
Dr. Elombi holds an LL.M. and a Ph.D. in commercial arbitration from the London School of Economics, and a Maitrise-en-Droit from the University of Yaoundé.
His appointment followed a rigorous global search launched in January 2025, overseen by an international executive search firm, with the final recommendation made by the Board of Directors to the General Meeting of Shareholders in accordance with the Bank’s charter.