Cameroonian George Elombi officially took office as President of Afreximbank on October 25, 2025, during a ceremony in Cairo attended by over 2,000 African and international dignitaries. His installation follows his election on June 28, 2025, in Abuja, Nigeria, during the 32nd Annual General Meeting of Afreximbank shareholders. This historic appointment represents a major opportunity for Cameroon to strengthen its cooperation with Africa’s leading pan-African trade finance bank.

Who is George Elombi, Afreximbank’s new President?

George Elombi, 59, becomes the fourth President of the African Export-Import Bank since its establishment in 1993. Holder of a PhD in International Law from the University of London, he has dedicated 29 years of his career to Afreximbank, climbing through all ranks since his initial position as a legal officer in 1996.

His impressive career path

• ● 1996-2008: Legal Officer then Deputy Director of Legal Services
• ● 2009-2015: Executive Secretary and Head of Legal Services
• ● 2015-2025: Executive Vice President in charge of Governance
• ● Since October 2025: President and Chairman of the Board of Directors

Under his supervision, Afreximbank’s assets have experienced exponential growth. He is also recognized as the architect of the Pan-African Payment and Settlement System (PAPSS), active in over 45 African countries.

Afreximbank and Cameroon: a solid partnership

During the inauguration ceremony, Cameroonian Finance Minister Louis Paul MOTAZE presented a detailed assessment of Cameroon-Afreximbank cooperation. The results are impressive.

Afreximbank’s major financing in Cameroon

1. Rural electrification
   • ● 87 solar photovoltaic micro-plants
   • ● 13,000 households connected in 200 rural localities
   • ● Contribution to improving electricity access rate
2. Innovative budget support
   • ● Injection into Treasury bonds in July 2025
   • ● Unique euro/CFA franc conversion mechanism with BEAC
   • ● Strengthening state liquidity
3. Banking sector support
   • ● Guaranteed credit to local banks
   • ● Facilitating access to credit for businesses
   • ● Support to the real economy

Cameroon’s 5 expectations from Afreximbank

Minister Louis Paul MOTAZE clearly expressed Cameroonian priorities for the new mandate:

1. Infrastructure financing: Road, port, energy, and digital projects
2. Support for industrialization: Local transformation of raw materials
3. Private sector support: Access to regional markets via AfCFTA
4. Economic diversification: Reducing dependence on raw exports
5. Financial innovation: New adapted financing mechanisms

Elombi’s vision: transforming African trade

The new President has unveiled an ambitious roadmap aligned with member states’ expectations.

Afreximbank’s 5 strategic pillars under Elombi

Natural resource valorization: Creation of a financing window to transform minerals into finished products, thus capturing more value on the continent.

Strengthened intra-African trade: Massive investments in cross-border infrastructure to facilitate the free movement of goods and capital.

Technological innovation: Exploration of a pan-African digital currency to strengthen continental financial integration.

Asset growth: Ambitious goal to significantly multiply the bank’s assets within ten years.

Strategic partnerships: Increased collaboration with development institutions to maximize impact.

Cameroon-Afreximbank: a privileged relationship

Cameroon has been a founding member of Afreximbank since the signing of the Constitutive Agreement on May 8, 1993, in Abidjan. This relationship has significantly strengthened with:

• ● December 2019: Signing of an agreement to open a branch in Yaoundé
• ● September 2021: Official inauguration of the regional office for Central Africa
• ● 2025: Appointment of a Cameroonian as President of the institution

This local presence allows Afreximbank to better understand the specific needs of Cameroon and Central Africa.

Challenges to overcome

The transition to an industrial transformation financing model presents challenges:

• ● Increased complexity of infrastructure projects
• ● Sovereign risk management in an uncertain global context
• ● Balance between rapid growth and rigorous governance
• ● Coordination with states and the private sector
• ● Strengthening regional logistics capacities

Conclusion: a historic opportunity for Africa

Dr George Elombi’s installation as President of Afreximbank marks a turning point for African development financing. For Cameroon, it is both a national pride and a strategic opportunity to strengthen its partnership with the institution.

As Minister Louis Paul MOTAZE stated: “Afreximbank has accompanied Cameroon’s development efforts and should continue”. This statement summarizes the spirit of win-win partnership between the country and the institution.

With a Cameroonian at the head of Afreximbank, Africa has the means to finance its economic transformation, industrialization, and regional integration. The success of this vision will depend on the ability to transform announcements into concrete projects.