Afreximbank appoints George Elombi to succeed Benedict Oramah as president

The African Export-Import Bank (Afreximbank) says its shareholders have appointed George Elombi as the next president and board chairman of the continental financial institution.

In a statement on Saturday, the bank said Elombi would become the fourth president to lead the institution since its establishment in 1993.

Afreximbank said the appointment was one of the key decisions of the 32nd annual meetings and associated events held in Abuja, Nigeria, from June 25 to June 28, with the formal annual general meeting of shareholders today.

Elombi will succeed Benedict Oramah, who has served as president and board chairman since 2015.

The outgoing president will officially step down in September 2025.

“A Cameroonian national, George 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,” the statement reads.

“Over his nearly three decades at the Bank, he has 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, 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 $2 billion for vaccine acquisition and deployment across African and Caribbean nations.”

According to the statement, under his supervision of the equity mobilisation and investor relations department, the bank’s total ordinary equity mobilised amounted to $3.6 billion as at April 2025.

“Elombi holds a Master of Laws (LL.M.) from the London School of Economics, University of London, and a Ph.D. in commercial arbitration from the same university. He obtained a ‘Maitrise-en-Droit’ from the University of Yaoundé in 1989,” Afreximbank added.

Speaking on his appointment, Elombi expressed a deep commitment to the bank’s mission and future.

“I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision, its mandate as well as its growth,” he said.

“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.”

Afreximbank also said the new chairman accepted the shareholders’ desire as expressed by his predecessor to make the institution a $250 billion bank in 10 years.