Cameroonian national Dr George Elombi has been sworn-in as President and Chairman of the Board of Directors of Afreximbank, becoming the institution’s fourth leader since its founding in 1993.
His appointment was formalised at the Bank’s 32nd Annual General Meeting of shareholders, held in Abuja from 25–28 June 2025. The decision was ratified on 28 June.
Dr Elombi succeeds Professor Benedict Oramah, who has led Afreximbank since 2015 and will step down in September 2025.
A seasoned executive of almost three decades at the Bank, Dr Elombi joined Afreximbank in 1996 as a Legal Officer and rose through various roles including Senior Legal Officer, Chief Legal Officer, Executive Secretary and Director, and most recently Executive Vice President in charge of Governance, Legal & Corporate Services.
In those capacities, he played a central role in shaping the institution’s legal and governance frameworks, expanding its capital base (mobilising US$3.6 billion in ordinary equity by April 2025) and led major crisis response efforts such as mobilising over US$2 billion for vaccine acquisition during the COVID-19 pandemic.
A Vision for the Future
Speaking after his appointment, Dr Elombi remarked: “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 committed to building on his predecessor’s legacy and advancing the Bank’s bold ambition to grow into a US$250 billion institution within the next ten years.
The leadership transition at Afreximbank comes at a critical time. With intra-African trade expected to rise under the African Continental Free Trade Area (AfCFTA) and Africa’s economic landscape evolving rapidly, the Bank needs steady hands, institutional memory and bold strategy. Dr Elombi brings all three.
As a Cameroonian at the helm of a pan-African institution headquartered in Egypt, his appointment underscores Afreximbank’s regional breadth and continuity.
Sources say the Bank opted for a smooth evolution rather than a radical shift — ensuring governance stability while ramping up ambition.
They believe under Dr Elombi’s leadership, the focus will likely emphasise industrialisation, intra-continental trade and deeper engagement with African value chains — rather than just trade finance alone.
Dr Elombi formally assumed office in September 2025.
He now faces the immediate challenge of consolidating recent equity gains, sustaining the Bank’s momentum and steering it through global headwinds, all while asserting Africa-lHed solutions to African trade bottlenecks.
Whether his tenure will redefine the Bank’s influence and accelerate Africa’s trade ambitions remains to be seen — but for now, the appointment signals a new chapter in Afreximbank’s evolution.
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