George Elombi, a seasoned legal and governance expert, has been appointed the fourth President and Chairman of the Board of the African Export-Import Bank (Afreximbank).
His appointment, announced during the bank’s 32nd Annual General Meeting (AGM) in Abuja last week, marks a historic milestone as he becomes the first Cameroonian to lead the institution.
Elombi will formally assume office in September 2025, succeeding Benedict Oramah, who has served as President since 2015.
Who Is George Elombi?
Elombi is a founding member of Afreximbank, having joined the institution in 1996, just three years after it was established. Over nearly three decades, he has played a pivotal role in shaping the bank’s legal, governance, and corporate structure, transforming it into a key financier of Africa’s trade and industrial development.
A highly respected figure within the African finance and legal sectors, Elombi brings deep expertise in trade finance law, corporate governance, risk management, and institutional development.
Early life and education
Born in Cameroon in the late 1950s or early 1960s, Elombi began his academic journey at the University of Yaoundé, where he obtained a Maîtrise-en-Droit (Master of Law) in 1989. He then advanced his legal studies at the London School of Economics (LSE), earning both an LL.M. and a Ph.D. in Commercial Arbitration.
Before joining Afreximbank, Elombi was a law lecturer at the University of Hull in the United Kingdom, where he taught commercial and international law.
Career at Afreximbank
Elombi joined Afreximbank in 1996 as a legal officer, marking the beginning of a career that has spanned nearly three decades. He quickly rose through the ranks, becoming chief legal officer in 2003, where he was instrumental in developing the bank’s legal framework.
Between 2008 and 2010, he served as deputy director of legal services and executive secretary, before being promoted to director and executive secretary from 2010 to 2015. In 2015, Elombi was appointed executive vice president in charge of governance, legal, and corporate services, a role he held until his elevation to president in 2025.
Key achievements
He led the design and implementation of Afreximbank’s group structure, including the creation of several subsidiaries to expand the bank’s operational footprint across Africa. Elombi chaired the bank’s Emergency Response Committee during the COVID-19 pandemic, mobilising over $2 billion to support vaccine procurement and distribution across Africa and the Caribbean.
He also oversaw the raising of $3.6 billion in ordinary equity by April 2025, significantly strengthening the bank’s balance sheet to meet Africa’s growing demand for trade and industrial financing. Elombi played a central role in enhancing the bank’s governance framework, ensuring its resilience and credibility on the global stage.
Honours and recognition
Elombi’s contributions extend beyond Afreximbank and have been recognised regionally.
In 2023, he was conferred the rank of Officer of the Congolese Order of Merit by President Denis Sassou Nguesso of the Republic of Congo for his leadership in driving regional development and cross-border financing.
And in 2019, he was awarded the Chevalier de l’Ordre de la Valeur (Knight of the Order of Valour) by the government of Cameroon, recognising his contribution to national development and Africa’s economic progress.
His vision for Afreximbank
In his acceptance speech, Elombi reaffirmed his commitment to Afreximbank’s mission, saying:
“I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision, its mandate, and its growth. As we look to the future, I see Afreximbank as a force for industrialising Africa and regaining the dignity of Africans wherever they are.”
He inherits the bank’s ambitious target, set by outgoing President Benedict Oramah, to transform Afreximbank into a $250 billion institution within the next decade — a vision that underscores Africa’s growing role in global trade and industrialisation.
