A New Era of Leadership at Afreximbank: Dr. George Elombi Takes the Helm
The African Export-Import Bank (Afreximbank) has embarked on a new chapter in its history with the appointment of Dr. George Elombi as its President and Chairman of the Board of Directors. This transition of leadership marks a significant moment for the institution, as Dr. Elombi becomes only the fourth individual to hold this prestigious position since the bank’s inception in 1993. His appointment, ratified by the shareholders during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, in June 2025, signals a commitment to continuity and a focus on the bank’s core mission of facilitating intra-African trade and investment. Dr. Elombi is set to succeed Professor Benedict Oramah, who has led the bank since 2015, in September 2025.
Dr. Elombi’s appointment represents a culmination of nearly three decades of dedicated service to Afreximbank. Joining the institution in 1996 as a Legal Officer, he steadily ascended through the ranks, demonstrating exceptional legal acumen and leadership capabilities. His trajectory within the bank includes roles as Director and Executive Secretary, Deputy Director of Legal Services, Chief Legal Officer, and Senior Legal Officer. Prior to joining Afreximbank, he contributed to academia as a law lecturer at the University of Hull in the United Kingdom. This blend of academic background and extensive experience within the organization positions him uniquely to navigate the complexities of international trade and finance, vital for Afreximbank’s future endeavors.
Throughout his tenure at Afreximbank, Dr. Elombi has been instrumental in shaping the bank’s strategic direction and operational framework. He played a key role in establishing the Afreximbank Group structure, including the formation of subsidiaries that have broadened the institution’s reach and impact. His leadership extended to crisis management, notably during the COVID-19 pandemic. As Chair of the Emergency Response Committee, he spearheaded the bank’s response, mobilizing over $2 billion for vaccine procurement and distribution across Africa and the Caribbean, a testament to his ability to navigate complex challenges and deliver impactful solutions.
Dr. Elombi’s contributions have also been significant in strengthening the bank’s financial foundation. Under his supervision of the Equity Mobilisation and Investor Relations department, Afreximbank achieved remarkable success in raising capital, mobilizing $3.6 billion in total ordinary equity by April 2025. This accomplishment solidifies the bank’s financial strength and provides a platform for future growth and expansion of its operations in support of African trade and development.
Upon accepting his appointment, Dr. Elombi articulated a clear vision for Afreximbank’s future, emphasizing the bank’s role in driving industrialization and economic empowerment across the African continent. He expressed a deep commitment to the institution’s mission and a determination to build upon its past successes. He echoed the aspiration expressed by his predecessor to grow Afreximbank into a $250 billion institution within the next ten years, signaling ambitious goals for the bank’s future development and impact on the African economic landscape.
Dr. Elombi brings a wealth of academic and professional experience to his new role. He holds a Master of Laws (LL.M.) and a Ph.D. in commercial arbitration from the London School of Economics, University of London, and a ‘Maitrise-en-Droit’ from the University of Yaoundé. His appointment followed a comprehensive and rigorous selection process, underscoring the importance of identifying the most qualified candidate to lead the institution forward. This process involved a global call for applications, interviews conducted by an international executive search firm, and a final recommendation by the Board of Directors to the General Meeting of Shareholders. The appointment adheres to the Afreximbank Charter, stipulating a five-year term, renewable once, for the President. This structured approach ensures leadership stability and allows for long-term strategic planning and execution.
