Sign in Subscribe
Chairpersons

Afreximbank Appoints Dr. George Elombi as New President and Chairman of the Board

Strategic Insights

— 2 min read

Dr. George Elombi, a Cameroonian national, has been appointed as the next President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), marking a significant milestone for the pan-African financial institution. Dr. Elombi, who has served as Executive Vice President in charge of Governance, Legal and Corporate Services since 2015, will officially assume office in September 2025, succeeding Professor Benedict Oramah. This appointment follows a rigorous selection process, which included a competitive international recruitment process launched in January 2025. Dr. Elombi brings over three decades of experience in the banking industry, having joined Afreximbank in 1996 as a Legal Officer.

Key Takeaways:

  • Dr. George Elombi has been appointed as the next President and Chairman of the Board of Directors of Afreximbank, succeeding Professor Benedict Oramah, who has served since 2015.
  • Dr. Elombi has over three decades of experience in the banking industry, having joined Afreximbank in 1996 as a Legal Officer and rising through the ranks to become the Executive Vice President in charge of Governance, Legal and Corporate Services.
  • His tenure has included roles such as Chief Legal Officer, Director, and Executive Secretary, and he was instrumental in shaping the Bank's governance structure and establishing its subsidiaries.
  • Dr. Elombi led the mobilisation of over $2 billion for vaccine acquisition and deployment across Africa and the Caribbean as Chair of the Emergency Response Committee during the COVID-19 pandemic.
  • Under his supervision, Afreximbank raised a total of $3.6 billion in ordinary equity as of April 2025.
  • Dr. Elombi has expressed a vision for Afreximbank as a "force for industrialising Africa and for re-gaining the dignity of Africans wherever they are" and has pledged to honour the ambition to expand the Bank's balance sheet to $250 billion within the next decade.
  • The appointment was confirmed at the Bank's 32nd Annual General Meeting of Shareholders held on 28 June in Abuja, Nigeria, as part of a four-day series of events from 25-28 June.

Statistics:

  • Afreximbank has been in operation since 1993, and Dr. Elombi's tenure will mark the fourth leadership change since the Bank's founding.
  • Dr. Elombi has been with Afreximbank for nearly three decades, having joined in 1996.
  • The Bank has raised a total of $3.6 billion in ordinary equity as of April 2025 under Dr. Elombi's supervision.
  • Over $2 billion was mobilised for vaccine acquisition and deployment across Africa and the Caribbean during the COVID-19 pandemic under Dr. Elombi's leadership.

Sources:

  • "Afreximbank Appoints Dr. George Elombi as Next President and Chairman of the Board" (no date).
  • Afreximbank Charter (no date).
  • University of Hull (no date).
  • University of London, London School of Economics (no date).
  • University of Yaounde (no date).
  • Major international media outlets (no date).

Read more