In a defining moment for African finance, Dr. George Elombi, a seasoned Cameroonian jurist and veteran executive, has been appointed the next President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank). His nomination, officially confirmed during the Bank’s 32nd Annual General Meeting held in Abuja, Nigeria, marks the rise of a man who has quietly shaped the institution’s foundations from within for nearly three decades.
Elombi is set to take the helm in September 2025, becoming only the fourth individual to lead the Bank since its creation in 1993. He succeeds Professor Benedict Oramah, whose transformative 10-year tenure elevated Afreximbank to a multilateral powerhouse with over $40 billion in assets by the end of 2024.
What makes this transition particularly noteworthy is not simply the continuity it represents, but the monumental potential it embodies.
Elombi is not an outsider parachuted into power. He is a builder — of institutions, mechanisms, and trust.
Since joining Afreximbank in 1996 as a Legal Officer, he has climbed its ranks with quiet conviction: Senior Legal Officer, Chief Legal Officer, Executive Secretary, then ultimately Executive Vice President in charge of Governance, Legal, and Corporate Services. He played a decisive role in establishing Afreximbank Group’s legal structure and helped launch its key subsidiaries — including FEDA, the Bank’s impact investment arm, and AfrexInsure, its insurance management firm.
During the COVID-19 pandemic, Elombi chaired the Bank’s Emergency Response Committee. Under his leadership, Afreximbank mobilized $2 billion for vaccine acquisition and deployment across Africa and the Caribbean — not just an operational feat, but a declaration of agency and equity.
In charge of the Equity Mobilisation and Investor Relations Department, he spearheaded the effort that raised $3.6 billion in ordinary equity as of April 2025 — a figure that speaks volumes of the institution’s growing capital base and investor confidence.
In his acceptance speech, Dr. Elombi captured both humility and determination: > “I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision. As we look to the future, I see Afreximbank as a force for industrializing Africa and for re-gaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
But this isn’t merely a matter of preservation. Dr. Elombi has embraced the vision advanced by his predecessor — that of building a $250 billion institution over the next decade. It’s a goal that would place Afreximbank among the most consequential development finance institutions in the world.
Educated at the London School of Economics, where he earned both his LL.M. and a Ph.D. in commercial arbitration, Elombi also holds a ‘Maîtrise-en-Droit’ from the University of Yaoundé. His academic background is steeped in legal rigor and global perspective — a blend that has served Afreximbank well as it deepens ties with African governments, regional economic communities, and international capital markets.
The selection process that led to his appointment was launched in January 2025. It involved a global call for applications, independent screening by an international executive search firm, and final interviews with the Bank’s Board of Directors, which ultimately recommended him to the shareholders. The appointment was ratified during Afreximbank’s formal AGM on June 28th in Abuja.
As Afreximbank continues to deploy innovative financial structures to support the African Continental Free Trade Area (AfCFTA) — from the operationalization of PAPSS to the launch of the $10 billion AfCFTA Adjustment Fund — Dr. Elombi now stands at a unique intersection of continuity and disruption.
His presidency begins not with a blank slate, but with a canvas in motion — a canvas of capital, creativity, and continental ambition.
If Oramah steered Afreximbank into becoming a global voice for Africa in trade finance, Elombi may very well be the one to hardwire that voice into systems that endure.
In the words of several shareholders at the AGM: “Africa doesn’t just need financing. It needs institutions led by visionaries who believe that the future can be shaped from within. Elombi is one of them.”
This next chapter for Afreximbank is not just about leadership succession — it is about legacy extension, strategic elevation, and continental ownership.
And with Dr. George Elombi at the helm, that future feels within reach.