Sema Fonkem 29/06/2025

Dr. George Elombi has emerged as President and Chairman of The African Export-Import Bank (Afreximbank), with a task to move up the financial institution to a $250bn mark in the next 10 years.

Originally from Cameroon, Dr. Elombi who has been appointed as Afreximbank’s fourth president brings approximately 30 years of experience in the banking industry. After many months of conducting a search within recommended executives, shareholders reached a decision on Saturday, 28 June 2025 during the  32nd Afreximbank Annual General Meeting held in Abuja, Nigeria, to endorse Dr. Elombi as the right man for the job.

Dr. Elombi has been with Afreximbank since its creation in 1993 and the institution’s decision comes across a strategy to maintain staff support and off course hand over the job to someone credible enough and who knows the ins and outs.

“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,” said Dr. Elombi during acceptance speech.

Since 1996, Dr. Elombi has held several positions at Afreximbank including Legal Officer and Executive Vice President for Governance, Legal and Corporate Services. He played a pivotal role in establishing the Afreximbank Group structure and launching key subsidiaries: the Fund for Export Development in Africa (FEDA) and AfrexInsure.

Dr. Elombi holds a Master of Laws and a Ph.D. in commercial arbitration from the London School of Economics. He also taught law at the University of Hull before joining Afreximbank.

The careful and scrutinised selection process for Afreximbank’s new president and Chairman began in January 2025. The term of office is five years renewable based on performance and acheivements. 

During COVID-19, Dr. Elombi was Chair of the Emergency Response Committee and through his fund raising skills, Afreximbank was able to acquire over $2bn for vaccines that were distributed across Africa and the Caribbean. In April 2005, Afreximbank Equity Mobilisation and  Investor Relations department raised $3.6bn under Dr. Elombi’s leadership.

Former Afreximbank presidents

Name	Dates	Nationality
Christopher Edordu	1993–2003	Nigeria
Jean-Louis Ekra	2005–2015	Ivory Coast
Benedict Okey Oramah	2015–2025	Nigeria