Abuja: 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 continent's trade-oriented financial institution. Dr. Elombi will be succeeding Professor Benedict Oramah, who has been in the position since 2015 and will conclude his tenure in September 2025. This marks Dr. Elombi as the fourth President to lead the Bank since its establishment in 1993.
According to Ghana News Agency, Dr. Elombi's appointment was one of the significant outcomes of the 32nd Afreximbank Group annual meetings and associated events held in Abuja, Nigeria, from June 25 to 28, with the formal annual general meeting of shareholders conducted on June 28, 2025. His selection followed a rigorous process initiated in January 2025, as per the Bank's Charter and the Board of Directors' recommendation.
The multilateral financial institution, Afreximbank, was founded to foster a consistent expansion, diversification, and development of African trade, operating with a focus on profitability. In a conversation with the Ghana News Agency, Dr. Elombi outlined the Bank's future trajectory, emphasizing a shift towards enhancing value-added exports rather than raw commodities. He highlighted ongoing efforts in Guinea to process cotton into garments as a practical example of this transition.
Dr. Elombi expressed that the Bank would prioritize value addition to create more employment opportunities, build confidence, enhance skillsets, increase the tax base, and mitigate unemployment across the continent. His candidacy received overwhelming support from shareholders, with 100 percent of the 96.87 percent present at the annual meeting endorsing him.
Interpreting the unanimous vote, Dr. Elombi remarked that it reflected the shareholders' confidence in continuing the Bank's current strategic endeavors. His career with Afreximbank began in 1996 as a Legal Officer, and he has since progressed to Executive Vice President, Governance, Legal and Corporate Services, among other prominent roles.
Before joining Afreximbank, Dr. Elombi served in academia, teaching law at the University of Hull in the United Kingdom.
