A leadership transition is underway at one of Africa’s most influential financial institutions. Dr. George Elombi has been appointed the next President and Chairman of the Board of Afreximbank, effective September 2025. His appointment was announced at the Bank’s 32nd Annual Meetings in Abuja, closing a chapter led by Prof. Benedict Oramah, who has steered the institution since 2015.
Dr. Elombi is no stranger to Afreximbank. He began as a legal officer in 1996 and steadily rose through the ranks. With roles including Executive Secretary and Executive Vice President of Corporate Governance, Legal and Corporate Services, Elombi helped shape much of the institution’s internal structure and long-term strategy. During the COVID-19 pandemic, he chaired the Emergency Response Committee, leading a US$2 billion vaccine funding initiative across Africa and the Caribbean.
More recently, he drove equity mobilisation efforts that increased Afreximbank’s capital to US$3.6 billion by April 2025, putting the bank on firmer footing for its next growth phase.
In his first remarks as President-designate, Elombi framed his vision clearly. He sees Afreximbank not just as a bank, but as a platform to help industrialise Africa and support African dignity globally. He pledged to advance the bank’s ambitious growth targets, including a goal to become a US$250 billion institution over the next decade.
This transition comes at a critical time. Afreximbank is deeply involved in implementing major continental projects such as the Pan-African Payment and Settlement System (PAPSS) and the AfCFTA Adjustment Fund. These initiatives are central to building the infrastructure for intra-African trade and economic integration.
With his legal background, institutional knowledge, and strong investor relations track record, Elombi’s leadership signals continuity with an added push toward growth. His appointment also reflects a broader pattern in African institutions, where internal succession is gaining traction as a way to preserve vision and ensure steady execution.
As Afreximbank prepares for its next phase, this leadership shift provides a clear message to markets. The Bank remains focused on long-term trade transformation, regional value chains, and the financial systems needed to support Africa’s next growth chapter.
