What to know about George Elombi, new President and Chairman of the Board

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Dr. George Elombi, a legal scholar turned banking leader whose steady ascent reflects deep governance expertise and Pan-African vision, takes over as the President and Chairman of the Board of Afreximbank.

Dr. George Elombi was born in Cameroon in 1950s–1960s. Elombi attended the University of Yaoundé, where he earned a Maîtrise-en-Droit in 1989. He later earned both an LL.M. and a Ph.D. in commercial arbitration from the London School of Economics.

He lectured at the University of Hull in the UK before embarking on his career with Afreximbank in 1996, where he started as a Legal Officer.

In nearly three decades, Elombi advanced steadily at Afreximbank:

• 1996: Joined as Senior Legal Officer

• 2003-2008: Promoted to Chief Legal Officer

• 2008-2010: Served as Deputy Director, Legal Services & Executive Secretary

• 2010-2015: Held dual roles as Director & Executive Secretary

• 2015-2025: Became Executive Vice President, Governance, Legal & Corporate Services.

He played a crucial role in shaping Afreximbank’s structure, launching key subsidiaries, crafting corporate governance, and strengthening legal frameworks across the institution.

As Chair of the Emergency Response Committee, Elombi spearheaded the bank’s pandemic response raising over US$2 billion for vaccine procurement and distribution across Africa and the Caribbean.

Overseeing the Equity Mobilisation and Investor Relations division, he led efforts to raise US$3.6 billion in ordinary equity by April 2025 positioning Afreximbank for expansion toward a US$250 billion asset target within a decade.

In June 2025, during Afreximbank’s 32nd AGM in Abuja, he was unanimously selected as the next President and Chairman of the Board, becoming the fourth President since the bank’s founding. His term begins in September 2025 and lasts five years, with the possibility of renewal.

In October 2023, he received the Officer of the Congolese Order of Merit from President Sassou Nguesso in the Republic of Congo, recognizing his leadership in driving regional development and cross-border financing.

At his appointment briefing, Elombi affirmed his dedication to advancing Africa’s industrialization, addressing infrastructure and trade bottlenecks, and preserving the dignity of all Africans. He praised Afreximbank’s growth assets rose from US$4 billion to US$40 billion under his shadow and vowed to continue the institution’s transformation mission.

Elombi has been described as the institution’s memory and backbone, especially in governance and legal affairs. His tenure spans pivotal initiatives like PAPSS, the AfCFTA Adjustment Fund, and robust pandemic response operations.

He is seen as a steady and reform-minded leader, crucial for steering Afreximbank into its next phase of continental leadership.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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