Shareholders of the African Export-Import Financial institution (Afreximbank) have formally appointed Dr. George Elombi because the establishment’s subsequent President and Chairman of the Board of Administrators, making him the fourth president to guide the continental monetary establishment since its inception in 1993.
The appointment was confirmed in the course of the thirty second Afreximbank Group Annual Conferences held in Abuja from June 25 to twenty-eight. The formal Annual Normal Assembly of shareholders, the place the choice was finalized, came about on Saturday, June 28.
Dr. Elombi, a Cameroonian nationwide, will succeed Professor Benedict Oramah, who has served as President since 2015 and is anticipated to step down in September 2025.
With almost three a long time of service at Afreximbank, Dr. Elombi joined in 1996 as a Authorized Officer and most lately held the publish of Govt Vice President for Governance, Authorized and Company Companies. His profession on the financial institution contains key management roles equivalent to Director and Govt Secretary, Chief Authorized Officer, and Deputy Director of Authorized Companies.
Earlier than becoming a member of Afreximbank, Elombi taught legislation on the College of Hull in the UK.
He has performed a big function in shaping Afreximbank’s institutional construction and increasing its capability, together with the creation of key subsidiaries. Notably, he chaired the Financial institution’s Emergency Response Committee in the course of the COVID-19 pandemic, mobilizing over US$2 billion for vaccine acquisition and deployment throughout Africa and the Caribbean. Below his oversight of the Fairness Mobilisation and Investor Relations division, the Financial institution raised US$3.6 billion in odd fairness as of April 2025.
In his acceptance speech, Dr. Elombi said:
“I’ve labored alongside outstanding colleagues and extraordinary leaders to assist form this establishment’s imaginative and prescient, its mandate in addition to its progress. As we glance to the longer term, I see Afreximbank as a drive for industrialising Africa and for re-gaining the dignity of Africans wherever they’re. I’ll work to protect this vital asset.”
He additionally pledged to hold ahead his predecessor’s ambition of remodeling Afreximbank right into a US$250 billion financial institution inside the subsequent decade.
Dr. Elombi holds a Grasp of Legal guidelines (LL.M.) and a Ph.D. in Industrial Arbitration from the London College of Economics, College of London. He earned his ‘Maitrise-en-Droit’ from the College of Yaoundé in 1989.
His appointment adopted a rigorous world choice course of, launched in January 2025, involving a world name for purposes, vetting by a human useful resource government search agency, and interviews with shortlisted candidates. The Board of Administrators really helpful Dr. Elombi to the Normal Assembly of Shareholders, which gave its closing approval.
Based on the Afreximbank Constitution, the president is appointed for a five-year time period, renewable as soon as.
