Abuja, Nigeria, June 28, 2025 – Following its 32nd Annual General Meetings held from June 25 to 28, 2025 in Abuja, the shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the new President and Chairman of the Board. He becomes the fourth leader to head the pan-African bank since its establishment in 1993. His term is set to begin in September 2025, succeeding Professor Benedict Oramah, who has been in office since 2015.
A Cameroonian national, Dr. Elombi has been with Afreximbank since 1996. Initially recruited as a lawyer, he has steadily climbed the ranks to become the Executive Vice President in charge of governance, legal affairs, and institutional services. He has played a key role in structuring the Afreximbank group, overseeing the establishment of its subsidiaries, and leading the emergency response committee during the COVID-19 crisis, mobilizing over $2 billion for the acquisition and distribution of vaccines in Africa and the Caribbean.
Responsible for capital mobilization as well, he has led efforts to raise $3.6 billion in ordinary equity capital as of April 2025.
“I have had the honor of contributing to building this institution and evolving its mission. I am committed to ensuring that Afreximbank remains a catalyst for industrialization and dignity for the continent,” stated the new President in his address, expressing his determination to continue the goal set by his predecessor: to make Afreximbank a $250 billion institution within the next ten years.
With a Ph.D. in commercial arbitration and a Master of Laws (LL.M.) from the London School of Economics, Dr. Elombi is also a law graduate from the University of Yaoundé. Before joining Afreximbank, he taught law at the University of Hull in the United Kingdom.
His appointment comes after a rigorous selection process launched in January 2025, which included an international call for applications, screening of profiles by a reputable recruitment firm, and final selection by the Board of Directors, endorsed by shareholders on June 28.
In accordance with Afreximbank’s charter, the President is appointed for a five-year term, renewable once.
