Cameroonian Elombi Succeeds Oramah as AFREXIMBank Boss
The shareholders of the African Export-Import Bank (Afreximbank) have appointed a Cameroonian, Dr. George Elombi, as the forthcoming President and Chairman of the Board of Directors of this esteemed continental financial institution.
This development marks him as the fourth individual to preside over the Bank since its inception in 1993.
He will succeed Nigerian national, Professor Benedict Oramah, who has held the positions of President and Chairman of the Board of Directors since 2015 and is set to relinquish his roles in September 2025, as per a statement released by Afreximbank.
Dr. Elombi’s appointment was a pivotal decision made during the 32nd Afreximbank group annual meetings and associated events held in Abuja, Nigeria, from June 25 to 28, with the formal annual general meeting of shareholders occurring on Saturday, June 28, 2025.
In his acceptance speech, Dr. Elombi expressed a profound commitment to the Bank’s mission and future, articulating:
“I have collaborated with remarkable colleagues and extraordinary leaders to help shape this institution’s vision, its mandate, and its growth. As we look to the future, I envisage Afreximbank as a driving force for Africa’s industrialization and the restoration of dignity for Africans worldwide. I am dedicated to preserving this vital asset.”
He also embraced the shareholders’ aspiration, as voiced by his predecessor, to transform the institution into a US$250 billion bank within a decade.
The bank stated that his appointment ensued after a rigorous selection process initiated in January 2025, which included a global call for applications published in international media and on the Afreximbank website.
“Shortlisted candidates underwent interviews conducted by an international human resource executive search firm. The leading candidates were presented to the Board of Directors, which recommended Dr. Elombi to the General Meeting of Shareholders for final endorsement.
“Under the Afreximbank Charter, a president is appointed by the General Meeting of Shareholders upon the Board of Directors’ recommendation for a five-year term, renewable once,” the bank declared.
Brief Profile of the Incoming President
According to Afreximbank, Cameroonian national George Elombi has been affiliated with Afreximbank since 1996, commencing his journey as a Legal Officer.
He ascended through the ranks to become Executive Vice President, Governance, Legal, and Corporate Services. Over 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).
Before joining Afreximbank, he imparted legal knowledge at the University of Hull, United Kingdom.
Dr. Elombi is credited with playing a seminal role in establishing the Afreximbank group’s structure, including the formation of key subsidiaries that have augmented the Bank’s capacity to fulfill its mandate. As Chair of the Emergency Response Committee, he spearheaded the Bank’s response to the COVID-19 crisis, mobilizing over $2 billion for vaccine acquisition and deployment across African and Caribbean nations.
Under his stewardship of the Equity Mobilisation and Investor Relations department, the Bank’s total ordinary equity mobilized amounted to USD 3.6 billion as of April 2025.
Dr. George 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.
