The African Export-Import Bank (Afreximbank) held a landmark farewell and inauguration ceremony on Friday, October 24, 2025, at the St. Regis Al Masa Convention Center in Cairo, Egypt, marking a pivotal moment in its 30-year journey of transformation. This two-day event celebrated the remarkable legacy of the outgoing president, Professor Benedict Oramah, and officially welcomed Dr. George Elombi as the new head of the Bank, ushering in a new era of trade-focused innovation and transformation for Africa.
The African Export-Import Bank (Afreximbank) is turning a historic page as it ushers in a new chapter of leadership and vision for the continent. On Friday, October 24, 2025, the Pan-African financial powerhouse opened its landmark Farewell and Investiture Ceremony at the St. Regis Al Masa Convention Centre in Cairo, Egypt. Held under the theme “Decades of Impact as Building blocks for a Prosperous Future,” the two-day event stands as a defining moment for both the Bank and Global Africa, celebrating a legacy of achievement while embracing a new era of transformation under the incoming president, Dr. George Elombi.
By the time Orama assumed office in 2015, his vision was clear. Building upon the foundations established by his predecessors, he sought to accelerate Africa’s trade, to grow it in leaps and bounds, to grow it in scale and depth. By expanding some of the interventions and executing some of the very ideas I and others considered overambitious. This approach helped to tackle the many interconnected challenges that afflict Africa’s trade and development.
George Elombi, President of Afreximbank
More than 1,500 participants are expected to gather in Cairo from 24 to 25 October, including African heads of state, policymakers, and global development partners. The ceremony honours the remarkable tenure of Professor Benedict Oramah, whose visionary leadership, innovative financing instruments, and unwavering commitment have shaped Afreximbank into a cornerstone of Africa’s economic integration. At the same time, it welcomes Dr. Elombi, who steps into the presidency with a pledge to build on this strong foundation and accelerate trade-led growth across the continent.
Under his leadership, brick by brick, Afreximbank and its willing partners built a solid foundation for enhancing intra-African trade. Instruments were created In very quick succession to dismantle the obstacles that have hindered Africa’s progress for nearly seven decades, we could not always keep pace. He confronted the challenges of Africa’s industrial underdevelopment head on, building on the work of those who came before us.
George Elombi, President of Afreximbank
While acknowledging the Bank’s transformative journey over the past decades, Dr. GeorgeElombi paid tribute to his predecessor. Under Professor Oramah’s leadership, Afreximbank achieved record milestones, including $973.5 million in net profit in 2024, assets surpassing $40 billion, and an expanded strategic role in advancing the African Continental Free Trade Area (AfCFTA). Dr. Elombi pledged to sustain this momentum and position the Bank as an engine for sustainable industrialization and financial innovation.
We’re slightly above 40 billion today. Oramah has turned the bank into Africa’s development supermarket, an institution with a suite of solutions for our challenges to development. He has also turned decades and centuries old political wishes into tangible gains for all Africans.
George Elombi, President of Afreximbank
Beyond celebration, the event also serves as a forum for reflection on Afreximbank’s pivotal role in supporting African nations through global crises, investing in industrial capacity, and championing regional integration. As the institution transitions into a new phase, its enduring mission remains clear, to empower Africa’s economies, deepen intra-African trade, and build a prosperous, self-reliant continent.
