Cameroon’s Elombi emerges as Afreximbank’s new President

…vows to build on Oramah’s legacy

The African Export-Import Bank (Afreximbank) has appointed George Elombi as its next President and Chairman of the Board, marking a significant leadership transition for the Pan-African financial institution as it seeks to expand its mandate and deepen its footprint across the continent.

Elombi, a Cameroonian national with nearly three decades at the bank, will succeed Benedict Oramah in September. The decision was ratified saturday at the 32nd Afreximbank Annual General Meeting held in Abuja, Nigeria, where shareholders endorsed the board’s recommendation following a months-long global executive search.

Elombi becomes the fourth person to lead Afreximbank since its inception in 1993. His selection underscores the Bank’s preference for institutional continuity at a time of strategic ambition and growing regional influence.

“I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision, its mandate as well as its growth. 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,” Elombi said in his acceptance speech.

Since joining the Bank in 1996 as a Legal Officer, Elombi has held several senior roles, including most recently Executive Vice President for Governance, Legal and Corporate Services. He played a central role in establishing the Afreximbank Group structure and was instrumental in launching key subsidiaries, including FEDA (the Fund for Export Development in Africa) and AfrexInsure.

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Elombi’s crisis leadership was tested during the COVID-19 pandemic, when he chaired the Emergency Response Committee. Under his guidance, Afreximbank mobilized over $2 billion to procure and distribute vaccines across Africa and the Caribbean. He also oversaw the Equity Mobilisation and Investor Relations department, which raised $3.6 billion in ordinary equity by April 2025.

His appointment comes as the Bank looks to scale up operations, with the goal of becoming a $250 billion institution within the next decade—a vision publicly endorsed by outgoing President Oramah.

Born in Cameroon and educated in both Africa and the United Kingdom, Elombi holds a Ph.D. in commercial arbitration and a Master of Laws from the London School of Economics. Before joining Afreximbank, he taught law at the University of Hull.

The selection process, initiated in January 2025, included a global call for applications and interviews conducted by an international executive search firm. Final approval was given by the Bank’s General Meeting of Shareholders, in line with its charter which mandates a renewable five-year presidential term.

As Afreximbank continues to anchor its strategy around industrialisation, intra-African trade, and AfCFTA implementation, Elombi’s appointment is seen as a steady hand poised to deepen reforms and expand impact.

Elombi assumes leadership at a time when Africa’s financial architecture is undergoing significant transformation—with Afreximbank at the heart of it.