[DIGITAL Business Africa] – Cameroonian national Dr. George Elombi was officially appointed President of the African Export–Import Bank (Afreximbank) on Saturday, June 28, 2025 in Abuja, Nigeria. His selection was one of the key decisions taken at Afreximbank’s 32nd Annual General Meeting and related events held in Abuja from June 25 to 28.
He succeeds Nigerian Benedict Oramah, who led the institution for ten years (June 2015 – September 2025), and becomes the fourth president of this pan-African development bank founded in 1993 – following Nigeria’s Christopher Edordu (1994–2005), Côte d’Ivoire’s Jean-Louis Ekra (2005–2015), and Oramah himself.
A crowning achievement for Dr. Elombi, who until now served as Afreximbank’s Executive Vice-President for Corporate Governance & Legal Services and as its Secretary-General, after nearly three decades with the institution.
“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,” he said immediately following his appointment.
Shareholders and his predecessor have set the ambitious goal of growing Afreximbank’s balance sheet to USD 250 billion within ten years – a bank that in its first 32 years has already mobilized over USD 250 billion across Africa and supported industries long overlooked by traditional financiers.
Strong Mandate and Deep Trust
Dr. Elombi’s commitment, loyalty and decades-long service to the bank earned him shareholders’ confidence.
“Our directors are pleased with the institution’s financial strength and the relevance of its projects. They want us to continue on this trajectory and reaffirmed their attachment to the bank’s founding principles. The many expressions of support throughout the week show these messages were fully embraced,” he added.
By choosing someone so intimately familiar with Afreximbank – who has worked in perfect synergy with his predecessor – shareholders ensured continuity at a critical juncture for the bank’s digital transformation.
A Strategic Appointment Rooted in Loyalty
Former Nigerian President Olusegun Obasanjo recounted at the opening of these meetings how Benedict Oramah was first appointed in 2015 for his loyalty to then-Presidents of the bank. “When Afreximbank was created, Egypt lobbied for its headquarters in Cairo, arguing it would never push for the presidency later. After Christopher Edordu left, Egyptians again lobbied for the post – and everyone almost agreed – until I said no,” Obasanjo explained. He recalled that when Côte d’Ivoire’s Jean-Louis Ekra was chosen, Egypt even refused him a visa, forcing him to run the bank from Abuja’s Hilton hotels for five years – “and only one person stood firm, with loyalty, dedication and total commitment: Oramah.”
Similarly, Dr. Elombi’s long collaboration with Oramah – in his role as Executive Vice-President for Corporate Governance & Legal Services and Secretary-General – proved decisive.
His appointment followed a rigorous selection process initiated in January 2025, which included a global call for applications published in international media and on the Afreximbank website. Shortlisted candidates were interviewed by an international human resource executive search firm. The top candidates were presented to the Board of Directors, which recommended Dr. Elombi to the General Meeting of Shareholders for final approval.
Under the Afreximbank Charter, a president is appointed by the general meeting of shareholders upon the recommendation of the Board of Directors for a term of five years, renewable once.
A Distinguished Career
A Cameroonian national, Dr. George Elombi joined Afreximbank in 1996 as a legal officer. Over almost 30 years, he rose through the ranks:
- Senior Legal Officer (2001–2003)
- Chief Legal Officer (2003–2008)
- Deputy Director, Legal Services / Executive Secretary (2008–2010)
- Director & Executive Secretary (2010–2015)
- Executive Vice President, Governance, Legal and Corporate Services (2015–2025)
Prior to joining Afreximbank, he lectured in law at the University of Hull (UK). He holds an LL.M and Ph.D. in Commercial Arbitration from the London School of Economics and a Bachelor of Laws from the University of Yaoundé (1989).
Dr. Elombi played a pivotal role in establishing Afreximbank group’s structure, including the formation of key subsidiaries that have expanded the Bank’s capacity to deliver on its mandate. As Chair of the Emergency Response Committee, he led the Bank’s response to the COVID-19 crisis, mobilising over $2 billion for vaccine acquisition and deployment across African and Caribbean nations. Under his supervision of the Equity Mobilisation and Investor Relations department, the Bank’s total ordinary equity mobilised amounted to USD 3.6 billion as at April 2025
About Afreximbank
The African Export-Import Bank (Afreximbank) is a pan-African multilateral financial institution dedicated to financing and promoting intra- and extra-African trade. For 30 years, Afreximbank has been deploying innovative structures to provide financing solutions that facilitate the transformation of African trade patterns and accelerate industrialization and intraregional trade, thereby supporting economic expansion in Africa.
A strong supporter of the African Continental Free Trade Area (AfCFTA) Agreement, Afreximbank launched the Pan-African Payments and Settlement System (PAPSS), which was adopted by the African Union (AU) as the payment and settlement platform to support the implementation of the AfCFTA.
In collaboration with the AfCFTA Secretariat and the AU, the Bank established a USD 10 billion Adjustment Fund to help countries effectively participate in the AfCFTA.
As of the end of December 2024, the Bank’s total assets and guarantees stood at approximately USD 40.1 billion, and shareholders’ funds stood at USD 7.2 billion.
Afreximbank is rated A by GCR International Scale, Baa1 by Moody’s, AAA by China Chengxin International Credit Rating Co., Ltd (CCXI), A- by Japan Credit Rating Agency (JCR), and BBB by Fitch. Over the years, Afreximbank has evolved into a group consisting of the Bank, its impact financing subsidiary, the Export Development Fund for Africa (EDFA), and its insurance management subsidiary, AfrexInsure (the three entities together form “the Group”). The Bank is headquartered in Cairo, Egypt.
Afreximbank and Digital Technologies in Africa
Afreximbank, the African Export-Import Bank, actively uses digital technology to boost intra-African trade and the continent’s industrialization. It has developed various digital platforms and solutions to facilitate transactions, improve access to finance, and strengthen economic integration.
A Track Record of Pioneering Digital Projects
Under the leadership of its predecessor, Afreximbank has positioned itself as a major player in the digital transformation of intra-African trade. With projects such as:
• Africa Trade Gateway (ATG)
A collaborative portal connecting trade, finance, and investment stakeholders to facilitate project co-financing. A single digital window platform for African exporters and importers, it simplifies customs and insurance procedures and integrates the Mansa solution for counterparty identity and compliance verification
Learn more → https://www.afreximbank.com/afreximbank-launches-africa-trade-gateway-a-single-window-for-digital-services/
• Pan-African Payment and Settlement System (PAPSS)
Local currency payment and settlement system for the African Continental Free Trade Area (AfCFTA), adopted by the African Union to reduce cross-border transaction costs and times.
Learn more → https://www.afreximbank.com/pan-african-payment-and-settlement-system-launched-by-president-akufo-addo-foreseeing-5-billion-annual-savings-for-africa/
• Mansa
Online KYC/AML due diligence tool designed to improve transparency and accelerate the verification of customers and suppliers on the continent.
Learn more → https://www.afreximbank.com/fr/mansa-un-partenariat-strategique-gagnant/
• African Trade Exchange (ATEX)
B2B marketplace connecting African buyers and sellers, integrating payment and logistics solutions.
Learn more → https://www.afreximbank.com/afreximbank-reiterates-prioritization-of-food-security-promoting-trade-investment-and-advancing-the-african-continental-free-trade-agreement-afcfta-at-2nd-russia-africa-economic-humanit/
• Afreximbank TradeLink
A digital supply chain platform enabling seller financing based on buyer risk, without paperwork.
Learn more → https://www.portal.afreximbank.com/our-solutions/afreximbank-tradelink/
• TRADAR
A trade intelligence hub offering market data, sector analysis, and monitoring of African trade policies. Learn more → https://www.portal.afreximbank.com/our-solutions/tradar/
These platforms – ATG, PAPSS, Mansa, ATEX, etc. – aim not only to streamline intra-African trade, but also to strengthen financial inclusion and transaction traceability. Dr. Elombi, the first Cameroonian to chair a continental institution of this magnitude, will undoubtedly make history by maintaining these achievements, developing them, and bringing his vision and personal touch of innovation with pragmatism.
By Beaugas – Orain DJOYUM
