Newly elected president of the Board of African Export-Import Financial institution (Afreximbank), Dr. George Elombi, has hinted of plans to guide the financial institution to vary the construction of African commerce with a concentrate on growing the continent to favourably compete with different continents.
The president stated his key priorities can be to “change the construction of our commerce in order that we will face growth head on. We’ve to proceed that effort.”
Elombi spoke yesterday shortly after he was unveiled as the brand new head of the financial institution in Abuja on Saturday.
“That’s going to be the precedence. Cope with the export processing hundreds, take care of the seaport terminals, take care of the facility stations, take care of the infrastructure we’d like and the human sources and the capital we have to course of the minerals. When that’s performed, our continent can be reworked,” Elombi stated. “There may be nothing else a lot better for the market of the establishment than that.”
His announcement culminated on the finish of the 3-day lengthy thirty second Afreximbank Annual Conferences that was largely attended in Abuja. He turns into the fourth President to guide the Financial institution since its institution in 1993.
His appointment was one of many key choices of the thirty second Afreximbank group annual conferences and related occasions held in Abuja, Nigeria, from 25 to twenty-eight June, with the formal annual common assembly of shareholders going down on Saturday, 28 June 2025.
He succeeds Professor Benedict Oramah, who has served as President and Chairman of the Board of Administrators since 2015, and who can be stepping down in September 2025.
A Cameroonian nationwide, George Elombi has been with Afreximbank since 1996, becoming a member of as a Authorized Officer. He rose by means of the ranks to grow to be Government Vice President, Governance, Authorized and Company Providers. Over his almost three many years on the Financial institution, he has served as Director and Government Secretary (2010–2015); Deputy Director, Authorized Providers / Government Secretary (2008–2010); Chief Authorized Officer (2003–2008); and Senior Authorized Officer (2001–2003).
Previous to becoming a member of Afreximbank, he taught regulation on the College of Hull, United Kingdom.
Dr. Elombi performed a pivotal function in establishing Afreximbank group’s construction, together with the formation of key subsidiaries which have expanded the Financial institution’s capability to ship on its mandate. As Chair of the Emergency Response Committee, he led the Financial institution’s response to the COVID-19 disaster, mobilising over $2 billion for vaccine acquisition and deployment throughout African and Caribbean nations. Underneath his supervision of the Fairness Mobilisation and Investor Relations division, the Financial institution’s complete atypical fairness mobilised amounted to USD 3.6 billion as at April 2025.
In his acceptance speech, Dr. Elombi expressed a deep dedication to the Financial institution’s mission and future, stating:
“I’ve labored alongside outstanding colleagues and extraordinary leaders to assist form this establishment’s imaginative and prescient, its mandate in addition to its development. As we glance to the longer term, I see Afreximbank as a drive for industrialising Africa and for regaining the dignity of Africans wherever they’re. I’ll work to protect this essential asset.”
He accepted the shareholders’ want as expressed by his predecessor to make the establishment a US$250 billion financial institution in ten years.
Dr. George Elombi holds a Grasp of Legal guidelines (LL.M.) from the London Faculty of Economics, College of London, and a Ph.D. in business arbitration from the identical college. He obtained a ‘Maitrise-en-Droit’ from the College of Yaoundé in 1989.
His appointment adopted a rigorous choice course of initiated in January 2025, which included a worldwide name for purposes revealed in worldwide media and on the Afreximbank web site. Shortlisted candidates have been interviewed by a world human useful resource government search agency. The highest candidates have been offered to the Board of Administrators, which really helpful Dr. Elombi to the Basic Assembly of Shareholders for ultimate approval.
Underneath the Afreximbank Constitution, a president is appointed by the overall assembly of shareholders upon the advice of the Board of Administrators for a time period of 5 years, renewable as soon as.
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