…entrusted with steering Africa toward unity and prosperity
On Saturday, Nigeria’s Finance Minister and Coordinating Minister of the Economy, Wale Edun, officially welcomed George Elombi as the newly appointed President of the African Export-Import Bank (Afreximbank). Edun urged Elombi to champion a vision centered on Africa’s economic unity and long-term sustainable development.
The inauguration took place during the Afreximbank Legacy Conference in Cairo, an event Edun described as a pivotal milestone for both the continent and the institution. He emphasized that Elombi’s leadership symbolizes a seamless fusion of tradition and innovation, building upon the strong groundwork established by his predecessor, Professor Benedict Oramah.
“George Elombi brings an intimate understanding of Afreximbank to this critical juncture, as Africa embarks on a path marked by resilience and innovation. Your stewardship guarantees a smooth handover and a bold stride toward the future we collectively aspire to. Such moments, where all elements converge to propel Africa’s advancement, are truly rare,” Edun stated.
He tasked Elombi with safeguarding Afreximbank’s fundamental mission by enhancing the Bank’s influence as a driving force behind Africa’s economic autonomy and growth. “Your role transcends managing a financial entity; it involves cultivating a vision for a self-reliant, interconnected, and flourishing Africa,” he stressed.
Edun extended warm congratulations from President Bola Ahmed Tinubu and the Nigerian populace, describing the occasion as a proud landmark for Africa’s financial landscape. “It is a privilege to preside over this historic moment. I convey heartfelt greetings and best wishes from His Excellency, President Bola Ahmed Tinubu, and the people of Nigeria on this significant day,” he remarked.
Reflecting on the selection process, Edun recalled his role as Chairperson during the 32nd Afreximbank Annual Meetings held four months prior, where Elombi was unanimously chosen as the Bank’s fourth President and Chairman of the Board. He noted that this appointment not only signifies a leadership change but also heralds a new era in Afreximbank’s dedication to reinforcing Africa’s economic sovereignty and trade growth. “This event marks a renewed commitment to Afreximbank’s essential role in shaping Africa’s financial independence, trade framework, and, as Aliko Dangote insightfully noted, its manufacturing future,” Edun commented.
He acknowledged the attendance of global dignitaries, African heads of state, and shareholders, underscoring their collective dedication to Africa’s advancement. “Your presence here reflects the robust alliances we have nurtured, united by a shared vision of sustainable development and prosperity for Africa,” he added.
Turning to Professor Benedict Oramah, Edun paid tribute to his visionary leadership over the past decade, which transformed trade financing across the continent. “Under your guidance, Afreximbank has not only facilitated intra-continental trade but also reshaped Africa’s trade infrastructure and elevated its position in the global economy,” he observed.
Edun highlighted Oramah’s notable accomplishments, including the launch of the Pan-African Payment and Settlement System, the advancement of intra-African trade initiatives, and securing an $800 million facility for special economic zones-efforts that have revolutionized business practices across Africa. He praised Oramah’s steady leadership through global crises such as the COVID-19 pandemic, commodity market fluctuations, and geopolitical tensions. “Your foresight, discipline, and unwavering faith in Africa’s potential have been a beacon. Professor Oramah, your contributions have been invaluable to Afreximbank, the continent, and its diaspora,” he affirmed.
While celebrating these achievements, Edun reminded attendees of the ongoing challenges Africa faces. “As we honor our progress, we must remain vigilant and committed to overcoming the obstacles ahead. This gathering is more than ceremonial; it is a reaffirmation of our shared determination to build a prosperous, integrated, and competitive Africa,” he emphasized.
Concluding his address, Edun formally invited George Elombi to take the oath of office as Afreximbank’s new President. “In line with the Bank’s Charter, I now call upon George Elombi to join me in taking the Oath of Office and to share his vision with us,” he declared.
The ceremony also featured remarks from Selma Malika Haddadi, Deputy Chairperson of the African Union Commission, who lauded Afreximbank’s strategic collaboration with the African Union and praised Oramah’s leadership. She noted that Afreximbank has consistently partnered with the African Union to foster continental integration, industrial growth, and economic transformation.
Haddadi remarked, “Professor Benedict Oramah’s tenure has been characterized by courage, humility, relentless determination, and an exceptional ability to turn vision into reality. Across Africa, he is recognized as a leader who delivers concrete results.”
She welcomed Elombi’s appointment as a continuation of strong, visionary leadership. “Leadership is a relay, not a destination. Today, the torch passes to you. You inherit not just an institution, but a respected and forward-looking organization. You are the ideal successor to an extraordinary predecessor,” she concluded.