Shareholders of the African Export-Import Bank (Afreximbank) have officially appointed Dr. George Elombi as the institution’s next President and Chairman of the Board of Directors, making him the fourth president to lead the continental financial institution since its inception in 1993.
The appointment was confirmed during the 32nd Afreximbank Group Annual Meetings held in Abuja from June 25 to 28. The formal Annual General Meeting of shareholders, where the decision was finalized, took place on Saturday, June 28.
Dr. Elombi, a Cameroonian national, will succeed Professor Benedict Oramah, who has served as President since 2015 and is expected to step down in September 2025.
With nearly three decades of service at Afreximbank, Dr. Elombi joined in 1996 as a Legal Officer and most recently held the post of Executive Vice President for Governance, Legal and Corporate Services. His career at the bank includes key leadership roles such as Director and Executive Secretary, Chief Legal Officer, and Deputy Director of Legal Services.
Before joining Afreximbank, Elombi taught law at the University of Hull in the United Kingdom.
He has played a significant role in shaping Afreximbank’s institutional structure and expanding its capacity, including the creation of key subsidiaries. Notably, he chaired the Bank’s Emergency Response Committee during the COVID-19 pandemic, mobilizing over US$2 billion for vaccine acquisition and deployment across Africa and the Caribbean. Under his oversight of the Equity Mobilisation and Investor Relations department, the Bank raised US$3.6 billion in ordinary equity as of April 2025.
In his acceptance speech, Dr. Elombi stated:
“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 re-gaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
He also pledged to carry forward his predecessor’s ambition of transforming Afreximbank into a US$250 billion bank within the next decade.
Dr. Elombi holds a Master of Laws (LL.M.) and a Ph.D. in Commercial Arbitration from the London School of Economics, University of London. He earned his ‘Maitrise-en-Droit’ from the University of Yaoundé in 1989.
His appointment followed a rigorous global selection process, launched in January 2025, involving an international call for applications, vetting by a human resource executive search firm, and interviews with shortlisted candidates. The Board of Directors recommended Dr. Elombi to the General Meeting of Shareholders, which gave its final approval.
According to the Afreximbank Charter, the president is appointed for a five-year term, renewable once.