The African Export-Import Bank (Afreximbank) on Friday witnessed a historic leadership transition as Dr. George Elombi was officially sworn in as the fourth President and Chairman of the Board of Directors of the Bank.
The Oath of Office and Symbolic Transfer of Proclamation were administered by Mr. Wale Edun, Nigeria’s Honourable Minister of Finance and Coordinating Minister of the Economy, marking a seamless handover of leadership and continuity in the Bank’s mandate to advance Africa’s trade, integration, and prosperity.
Dr. Elombi succeeds Prof. Benedict O. Oramah, who served as President and Chairman for ten years and was part of the Bank’s pioneering team since its establishment in 1994.
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In his valedictory remarks, Prof. Oramah reflected on his 31-year journey at Afreximbank, describing it as a “calling to turn generations of African aspirations into reality.”
“When I became President in 2015, I promised that Afreximbank would not only finance trade but build the foundations that make trade possible,” Oramah said. “Together, we did just that.”
He highlighted key milestones achieved under his leadership, including the operationalization of the African Continental Free Trade Area (AfCFTA), the establishment of the Pan-African Payment and Settlement System (PAPSS), the Adjustment Fund, and the Intra-African Trade Fair.
Prof. Oramah also cited the Bank’s role in mobilizing over $10 billion during the COVID-19 pandemic, its support for strategic industrial projects such as the Dangote Refinery, and the growth of Afreximbank’s balance sheet “nearly eightfold,” as testaments to the institution’s impact.
“Africa’s journey to self-reliance is unstoppable — because we dared to dream and act together,” he said, expressing confidence in Dr. Elombi’s leadership. “The dream continues — and Africa’s best days are still ahead.”
The event symbolized both continuity and renewal for Afreximbank, as Dr. Elombi takes the helm to steer the Bank through its next phase of growth and innovation in driving intra-African trade and economic transformation.
