ABUJA, Nigeria, CMC– The shareholders of the African Export-Import Financial institution (Afreximbank) have appointed Dr. George Elombi as the subsequent President and Chairman of the Board of Administrators of the continental monetary establishment.
He turns into the fourth President to guide the Financial institution since its institution in 1993.
His appointment was one of many key selections of the thirty second Afreximbank group annual conferences and related occasions held right here this week, with the formal yearly basic assembly of shareholders going down on Saturday.
He succeeds Professor Benedict Oramah, who has served as President and Chairman of the Board of Administrators since 2015 and can step down in September 2025. A Cameroonian nationwide, George Elombi, has been with Afreximbank since 1996, becoming a member of as a Authorized Officer.
He rose by way of the ranks to change into Govt Vice President of Governance, Authorized, and Company Companies. Earlier than becoming a member of Afreximbank, he taught legislation on the College of Hull in the UK.
Elombi performed a pivotal function in establishing Afreximbank group’s construction, together with the formation of key subsidiaries which have expanded the Financial institution’s capability to ship on its mandate. As Chair of the Emergency Response Committee, he led the Financial institution’s response to the COVID-19 disaster, mobilising over US$2 billion for vaccine acquisition and deployment throughout African and Caribbean nations.
Below his supervision of the Fairness Mobilisation and Investor Relations division, the Financial institution’s complete atypical fairness mobilised amounted to US$3.6 billion as at April 2025.
In his acceptance speech, Elombi expressed a deep dedication to the Financial institution’s mission and future, stating:
“I’ve labored alongside exceptional 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 long run, I see Afreximbank as a power for industrializing Africa and regaining the dignity of Africans wherever they’re. I’ll work to protect this essential asset.”
He accepted the shareholders’ want, as expressed by his predecessor, to make the establishment a US$250 billion financial institution inside ten years.
George Elombi holds a Grasp of Legal guidelines (LL.M.) from the London Faculty of Economics, College of London, and a Ph.D. in business arbitration from the identical college.
He obtained a ‘Maitrise-en-Droit’ from the College of Yaoundé in 1989.
His appointment adopted a rigorous choice course of initiated in January 2025, which included a world name for functions revealed in worldwide media and on the Afreximbank web site. A global human useful resource govt search agency interviewed shortlisted candidates.
The highest candidates had been introduced to the Board of Administrators, which advisable Dr. Elombi to the Basic Assembly of Shareholders for closing approval.
Below the Afreximbank Constitution, a president is appointed by the final assembly of shareholders upon the advice of the Board of Administrators for a time period of 5 years, renewable as soon as.
