The African Export-Import Bank (Afreximbank) has officially ushered in a new era of leadership, as outgoing President Prof. Benedict Oramah handed over to Dr. George Elombi following three decades of institutional growth and continental impact.
The handover ceremony, held last week, marked an emotional milestone for the bank and the broader African financial community. Prof. Oramah, who has served Afreximbank for over 30 years and led it as President since 2015, was celebrated for building the institution into a cornerstone of Africa’s trade and development architecture.
In his farewell remarks, Prof. Oramah reflected on Africa’s potential and resilience, stating: “Africa was never poor — we were simply waiting to rediscover our wealth, our spirit, and our power to build.” His tenure is credited with strengthening Africa’s trade finance capacity, pioneering the Pan-African Payment and Settlement System (PAPSS), and driving strategic initiatives to enhance intra-Africa trade.
Incoming President Dr. George Elombi, a long-serving executive within the bank and seasoned development finance expert, emphasized the future direction of Afreximbank with a call to industrialization and value creation across the continent. “To change the structure, we must process. We must produce. Unless we produce, we cannot trade,” he said, underscoring a commitment to advancing Africa’s shift from commodity export dependency to manufacturing and value-added trade.
Industry observers note that the transition signals continuity, stability, and renewed ambition within the institution, as Afreximbank prepares to scale its role in supporting implementation of the African Continental Free Trade Area (AfCFTA) and promoting African-driven economic transformation.
Staff and stakeholders described the moment as historic, paying tribute to Prof. Oramah’s legacy while expressing confidence in Dr. Elombi’s ability to carry forward Afreximbank’s mission.
Afreximbank enters its new chapter with optimism, as leaders reaffirm their shared belief in Africa’s ability to trade, compete, and thrive on its own terms.
