The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution.
- •He becomes the fourth President to lead the Bank since its establishment in 1993.
- •He succeeds 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.
- •A Cameroonian national, Dr. Elombi joined Afreximbank in 1996 as a Legal Officer and has risen through the ranks to become Executive Vice President, Governance, Legal and Corporate Services.
“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,” Dr. Elombi said in his acceptance speech.
Among his commitments is one first expressed by his predecessor to make the institution a US$250 billion bank in ten years.
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. Among the major emerging issues on Dr. George Elombi’s desk will be the recent re-classification of the institution’s credit rating by Fitch Ratings.