Published: 28 June 2025

Shareholders of the African Export-Import Bank (Afreximbank) have appointed George Elombi as the new President and Chairman of the Board of Directors of the continental financial institution, marking a major leadership transition at the bank. His appointment was confirmed during the 32nd Afreximbank Annual Meetings and associated events held in Abuja, Nigeria, from 25 to 28 June 2025. The formal annual general meeting of shareholders took place on the final day of the summit.

A Zimbabwean delegation including former Reserve Bank of Zimbabwe governor John Mangudya, current governor John Mushayavanhu, and representatives from the private sector was in attendance, highlighting Zimbabwe's continued engagement with key continental economic institutions.

Elombi, a Cameroonian national with a PhD in law, becomes the fourth president of Afreximbank since its inception in 1993. He succeeds Benedict Oramah, who has served as president and chairman since 2015 and will step down in September 2025.

Elombi joined Afreximbank in 1996 as a legal officer and steadily rose through the ranks over nearly three decades. He has served in various senior roles, including executive secretary and director, deputy director of legal services, chief legal officer, and most recently, executive vice-president in charge of governance, legal and corporate services. Before joining the bank, he lectured in law at the University of Hull in the United Kingdom.

Throughout his career at Afreximbank, Elombi has played a central role in shaping the bank's legal and governance architecture. He was instrumental in the creation of the bank's current corporate structure and the establishment of several subsidiaries, which have significantly expanded Afreximbank's capacity to meet its mandate of boosting African trade and industrialisation.

His appointment comes at a time when the bank is intensifying its efforts to support intra-African trade under the African Continental Free Trade Area (AfCFTA), mobilising capital for development, and promoting sustainable industrial growth across the continent.

Outgoing president Benedict Oramah leaves behind a legacy of strategic expansion, innovation, and enhanced global partnerships that strengthened the bank's position as Africa's premier trade finance institution.

Elombi's elevation to the helm signals continuity and a deepening of Afreximbank's commitment to African development. With his long institutional memory and legal expertise, he is expected to lead the bank into a new phase of growth, policy innovation, and deeper continental integration.
- businessdaily

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