In a landmark decision set to shape Africa’s financial future, Dr. George Elombi, a seasoned Cameroonian lawyer and long-serving executive, has been appointed as the next President and Chairman of the Board of the African Export-Import Bank (Afreximbank). His appointment was confirmed during the bank’s annual general meeting on June 28, 2025, in Abuja.
Dr. Elombi will officially take office in September, succeeding Professor Benedict Oramah, who has led Afreximbank since 2015. This leadership transition marks a defining moment not just for the institution but also for Cameroon, elevating the nation’s position within Africa’s economic governance landscape.
For Cameroon, this is more than a ceremonial achievement. As both a direct shareholder and through the National Social Insurance Fund (CNPS) – a category B shareholder with a 700 million CFA franc stake – Cameroon holds considerable influence within Afreximbank. The CNPS sits on the bank’s board of directors and hosts Afreximbank’s Central Africa regional office within its Yaoundé headquarters.
A Career Forged Within Afreximbank
Dr. Elombi’s journey reflects dedication and strategic acumen. Joining Afreximbank in 1996 as a legal officer, he steadily rose through the ranks to become Executive Vice President for Governance, Legal, and Corporate Services. In nearly three decades at the bank, he has shaped policies, structured subsidiaries, and advanced the bank’s institutional development.
Notably, during the COVID-19 pandemic, he led Afreximbank’s emergency initiatives, securing over $2 billion to procure vaccines for Africa and the Caribbean. Under his leadership of equity fundraising, the bank raised an impressive $3.6 billion as of April 2025, bolstering its capacity to finance transformative projects across the continent.
Vision for Industrialisation and Sovereignty
Speaking after his appointment, Dr. Elombi called the decision a vote of confidence in the institution’s direction and achievements. “Shareholders are satisfied with the bank’s financial strength and its impact,” he said. “They have reaffirmed their commitment to our founding principles, and their support energises us to continue on this path.”
He underscored Afreximbank’s enduring mission to drive Africa’s economic transformation. “The bank must remain a catalyst for industrialisation and a guardian of African dignity worldwide,” he declared, setting an ambitious target to grow Afreximbank’s assets to $250 billion within the next decade.
A New Era for Cameroon’s Influence
Holding a PhD in commercial arbitration from the London School of Economics, following law studies at the University of Yaoundé, Dr. Elombi’s appointment is not only a personal triumph but also a strategic win for Cameroon. It signals the country’s growing influence in pan-African financial decision-making at a time when economic sovereignty and regional trade integration are taking centre stage.
As Afreximbank prepares to chart its next chapter under Dr. Elombi’s leadership, many across the continent view this as a promising moment. For Cameroon, it is a proud affirmation that its legal and financial experts are shaping Africa’s economic destiny from the frontlines.
