Afreximbank’s next president: George Elombi In?

Afreximbank has always had an orderly succession since it was founded in 1993.

It has preferred continuity by ensuring that transition is perfunctory with an eye on evolution rather than a “revolution.”

Christopher Edordu served for two terms of ten years before handing over to Jean-Louis Ekra who served out his two terms despite initial opposition from host country, Egypt.

After his tenure Ekra handed over to Benedict Oramah whose 10 years long tenure has come to an end and as he bows out, the question on many lips is who will steer the ship of Afreximbank next?

George Elombi who is currently Executive Vice President Governance, Legal and Corporate Services is likely to step into Oramah’s shoes.

The Cameroonian born, lawyer, Dr. George Elombi, has been with Afreximbank since 1996 when he joined as a Legal Officer after a stint as a full time lecturer at the University of Hull. He earned a PhD Degree in Law (International Commercial Arbitration) from the University of London.

Elombi, according to an entry in the bank’s website “was appointed to the position of Deputy Director, Legal Services in 2008, and to the position of Executive Secretary and Head of Legal Services in January 2009. In April 2015, he was appointed Executive Vice President (Corporate Governance and Legal Services), while also still remaining as the Executive Secretary.”

Described by colleagues as cerebral, knowledgeable and intellectually engaging, Elombi has enjoyed high visibility at the 32nd AAM and his comments at a panel that interrogated the need for African multilateral finance institutions to retain preferred creditor status were measured but direct.

Known for his forthright views; the need to strengthen both the bank and other African institutions so that they can be counted will most likely be top priorities for him.

According to him “a small number of African multilaterals have emerged and are making a statement, taking their place, becoming significant and creating anxiety among the established multilaterals… We have become very relevant and important to our governments.”

If his comments are anything to go by and if George Elombi does become the next president of Afreximbank he is most likely going to push an Africa-first mandate while positioning Afreximbank as a multilateral finance institution of global heft.

His term will also most probably be one of consolidation given the many initiatives launched by Oramah but he will have his work cut out to ensure the bank remains profitable and continues to build a healthy pipeline of deals and transactions on the continent, balancing innovation and risk with prudent banking practice.