Dr. George Elombi, a seasoned Cameroonian lawyer and long-standing executive of the African Export-Import Bank (Afreximbank), was appointed President and Chairman of the Board of Directors at the institution’s Annual General Meeting held in Abuja.
His appointment, set to take effect in September, marks a significant milestone for both Elombi and Cameroon’s role in Africa’s financial landscape.
Succeeding Nigerian Professor Benedict Oramah, who led Afreximbank since 2015, Elombi’s ascendancy reflects nearly three decades of unwavering dedication to African economic development.
His stewardship is anticipated to deepen the bank’s impact on intra-African trade financing and drive forward initiatives supporting industrialization, economic diversification, and continental sovereignty.
Cameroon, a shareholder in Afreximbank through direct state involvement and the National Social Security Fund (CNPS), holds a strategic position within the bank.
The CNPS, with an investment of 700 million CFA francs, secures a seat on the institution’s board alongside other African financial stakeholders.
The regional office for Central Africa is also headquartered within Cameroon, further underscoring the country’s integral role.
Dr. Elombi’s journey with Afreximbank began in 1996 as a legal advisor, after earning a doctorate in commercial arbitration from the London School of Economics and law training at the University of Yaoundé.
Over the years, he rose through the ranks, holding pivotal positions including Head of Legal Services, Executive Secretary, and Executive Vice President overseeing Governance, Legal, and Corporate Services.
His leadership was instrumental in structuring the bank’s subsidiaries and shaping its institutional growth.
Notably, during the Covid-19 crisis, Elombi spearheaded Afreximbank’s emergency response, mobilizing over $2 billion to procure vaccines across Africa and the Caribbean. As head of Capital Mobilization, he managed fundraisings totaling $3.6 billion by April 2025, reinforcing the bank’s capacity to meet continent-wide challenges.
Looking ahead, Elombi envisions Afreximbank as a key engine for Africa’s economic transformation and self-determination.
“Afreximbank must continue to be a force for the industrialization of the continent and the reconquest of dignity for Africans everywhere,” he declared, setting an ambitious goal to elevate the bank’s assets to $250 billion within the next decade.
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