Dr. Elombi Appointed Afreximbank President, Ushering in New Era for African Energy and Trade
The African Export-Import Bank (Afreximbank) has appointed Dr. George Elombi as its new President and Chairman of the Board of Directors, marking a pivotal moment for the bank and the continent’s energy and trade ambitions. Dr. Elombi succeeds Professor Benedict Oramah, who served since 2015, and becomes the fourth president since the bank’s inception in 1993.
This leadership change, effective September 2025, signals a renewed strategic focus as Afreximbank sets its sights on becoming a $250 billion institution within the next decade.
The appointment has been welcomed by the African Energy Chamber (AEC), with Executive Chairman NJ Ayuk noting Dr. Elombi’s deep institutional experience and commitment to industrializing Africa and financing energy projects that combat poverty and accelerate sustainable development.
Dr. Elombi previously served in senior roles at Afreximbank, including Chair of the Emergency Response Committee—mobilizing $2 billion for vaccines in Africa and the Caribbean—and head of Equity Mobilization and Investor Relations. Under his leadership, the bank increased its equity base to $3.6 billion as of April 2025.
The AEC praised Dr. Elombi’s vision to transform Afreximbank into a powerful enabler of Africa’s energy future—spanning upstream oil and gas, downstream infrastructure, renewable energy, and regional power integration.
“This new chapter is expected to be marked by growth and transformation,” Ayuk said, emphasizing the bank’s critical role in financing projects and facilitating intra-African trade.
Dr. Elombi’s appointment comes as Afreximbank deepens its involvement in energy financing through initiatives such as the upcoming launch of the African Energy Bank, which has a capital base of $5 billion. The bank also aims to double its intra-African trade financing portfolio from $20 billion in 2021 to $40 billion by 2026, supporting the African Continental Free Trade Agreement (AfCFTA).
Outgoing President Oramah is credited with introducing innovative financing mechanisms and steering the bank through a decade of growth and expanded influence in development finance. His legacy includes stronger institutional capacity and pivotal projects like the African Energy Bank initiative.
As Dr. Elombi prepares to take the helm, stakeholders across Africa are optimistic that his leadership will further consolidate Afreximbank’s position as a key driver of energy transformation, trade expansion, and economic empowerment across the continent.
