The shareholders of the African Export-Import Bank (Afreximbank) have appointed a Cameroonian, Dr. George Elombi, as the next President and Chairman of the Board of Directors of the continental financial institution.
The development makes him the fourth President to lead the Bank since its establishment in 1993.
He succeeds Nigerian national, Professor Benedict Oramah, who has served as President and Chairman of the Board of Directors since 2015, and who will be stepping down in September 2025, according to a statement issued by Afreximbank.
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Elombi’s appointment was one of the key decisions of the 32nd Afreximbank group annual meetings and associated events held in Abuja, Nigeria, from 25 to 28 June, with the formal annual general meeting of shareholders taking place on Saturday, 28 June 2025.
In his acceptance speech, Dr. Elombi states he remains deeply committed to the Bank’s mission and future, stating:
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“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 regaining the dignity of Africans wherever they are. I will work to preserve this important asset.”
He also accepted the shareholders’ desire, as expressed by his predecessor, to make the institution a US$250 billion bank in ten years.
The bank said 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.
