In a groundbreaking decision that will have a lasting impact on Africa’s financial landscape, Dr. George Elombi, a highly experienced Cameroonian lawyer and esteemed executive, has been selected as the next President and Chairman of the Board of the African Export-Import Bank (Afreximbank). This significant appointment was made official during the bank’s annual general meeting held on June 28, 2025, in Abuja.
Dr. Elombi is set to assume his new role in September, succeeding Professor Benedict Oramah, who has led Afreximbank since 2015. This transition of leadership signifies a pivotal moment not only for the institution but also for Cameroon, as it elevates the nation’s standing within Africa’s economic governance sphere.
For Cameroon, this appointment holds more than symbolic value. As a direct shareholder and through the National Social Insurance Fund (CNPS) – a significant category B shareholder with a 700 million CFA franc stake – Cameroon wields substantial influence within Afreximbank. The CNPS holds a seat on the bank’s board of directors and houses Afreximbank’s Central Africa regional office at its headquarters in Yaoundé.
A Career Rooted in Afreximbank
Dr. Elombi’s professional journey mirrors dedication and strategic prowess. Joining Afreximbank in 1996 as a legal officer, he steadily climbed the ranks to become Executive Vice President for Governance, Legal, and Corporate Services. Over nearly three decades at the institution, he has played a pivotal role in shaping policies, establishing subsidiaries, and advancing the bank’s institutional growth.
Notably, amid the challenges of the COVID-19 pandemic, he spearheaded Afreximbank’s emergency initiatives, securing over $2 billion to procure vaccines for Africa and the Caribbean. Through his leadership in equity fundraising, the bank successfully raised $3.6 billion as of April 2025, bolstering its capacity to finance transformative projects across the continent.
Vision for Industrialization and Sovereignty
Following his appointment, Dr. Elombi expressed gratitude for the confidence shown in the institution’s direction and achievements. “Shareholders have endorsed the bank’s financial stability and impact,” he remarked. “They have reaffirmed their commitment to our founding principles, and their support motivates us to press forward on this path.”
He emphasized Afreximbank’s enduring mission to drive Africa’s economic transformation. “The bank must continue to be a catalyst for industrialization and a protector of African dignity on the global stage,” he declared, outlining an ambitious goal to grow Afreximbank’s assets to $250 billion within the next decade.
A New Chapter for Cameroon’s Influence
With a PhD in commercial arbitration from the London School of Economics, following his legal studies at the University of Yaoundé, Dr. Elombi’s appointment represents not only a personal triumph but also a strategic victory for Cameroon. It signals the country’s increasing sway in pan-African financial decision-making at a time when economic sovereignty and regional trade integration are of paramount importance.
As Afreximbank gears up to embark on its next phase under Dr. Elombi’s leadership, many across the continent view this as a promising juncture. For Cameroon, it stands as a proud validation that its legal and financial experts are actively shaping Africa’s economic trajectory from the forefront.
