Dr. George Elombi takes over from Prof Oramah as new president of Afreximbank

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 becomes the fourth President to lead the Bank since its establishment in 1993, succeeding Professor Benedict Oramah, who has served in the position since 2015, and will end his tenure in September 2025.

His appointment was one of the key decisions of the 32nd Afreximbank Group annual meetings and associated events held in Abuja, Nigeria, from 25 to 28 June, with the formal annual general meeting of shareholders held on Saturday, June 28, 2025.

He was appointed in accordance with the Bank’s Charter following the recommendation of the Board of Directors after the top candidates were presented to them through a rigorous selection process initiated in January 2025.

The multilateral financial institution was established to stimulate a consistent expansion, diversification, and development of African trade while operating as a first-class, profit-oriented institution.

Speaking with the Ghana News Agency following his appointment, Dr. Elombi, said the next phase of the Bank would focus on intensifying its three-year-old initiative of moving African economies from raw commodity exports into value-added ones.

“It’s no longer interesting to [for example] export cotton from Africa. At the moment, we’re working with someone in an industrial zone to be done around the Bamba in Guinea to begin to process that into garments. That’s the only thing that makes sense to us right away,” he said.

He said Afreximbank would give more attention to value addition going forward, an approach aimed to create more jobs, build confidence, enhance skills, increase the tax base, and reduce importing unemployment into the continent.

The Cameroonian received overwhelming endorsement from shareholders, with 100 per cent of 96.87 per cent of total shareholders present at the annual meeting voting for him.

“The first impression is simply that the shareholders want us to continue with the work we’ve been doing and that’s what we’ll be doing,” he stated, interpreting the vote as validation of the bank’s current strategic approach.

Dr. Elombi joined Afreximbank in 1996 as a Legal Officer, rising through the ranks to become Executive Vice President, Governance, Legal and Corporate Services.

Over his nearly three decades at the Bank, he has served as Director and Executive Secretary (2010–2015); Deputy Director, Legal Services / Executive Secretary (2008–2010); Chief Legal Officer (2003–2008); and Senior Legal Officer (2001–2003). 

Prior to joining Afreximbank, he taught law at the University of Hull, United Kingdom.

Source: GNA

The post Dr. George Elombi takes over from Prof Oramah as new president of Afreximbank appeared first on Ghana Business News.

Read Full Story