Since assuming leadership in October 2025, Dr. George Elombi has overseen major financing commitments across Africa’s energy, mining and industrial sectors.
The African Energy Chamber (AEC) has commended Dr. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), for his decisive leadership in advancing African industrialization, energy security and economic integration. Since succeeding Professor Benedict Oramah in October 2025, Dr. Elombi has overseen a series of landmark financing commitments spanning oil and gas, critical minerals, infrastructure and manufacturing, demonstrating the growing capacity of African financial institutions to mobilize capital for the continent’s development.
“I was privileged to attend the inauguration of Dr. George Elombi in October 2025 as Afreximbank President and Chairman, succeeding Professor Benedict Oramah. Since that day, I have watched a man of few words keep the promises he made not with grand speeches, but with practical action. At this crossroads in our history, Dr. Elombi understands that leadership is not about occupying the moment. It is about shaping the future,” states NJ Ayuk, Executive Chairman, AEC.
A cornerstone of Dr. Elombi’s commitment to Africa’s energy sector is the establishment of the Africa Energy Bank (AEB) alongside the African Petroleum Producers Organization. Designed to finance large-scale energy and infrastructure projects across the continent, the AEB will use a corridor approach, prioritizing projects that deliver regional economic development across four pillars: export infrastructure, domestic infrastructure, clean cooking and power. The bank is expected to become operational within weeks and begin financing projects at the start of 2027.
Dr. Elombi’s work is reflected in a series of milestones reached by Afreximbank in recent months as the bank moves to advance intra-African trade, mobilize capital and bring new countries into its mission. In April 2026, South Africa acceded to the Establishment Agreement of the bank, marking the entry of one of the continent’s biggest economies into the bank’s membership. With the move, Afreximbank launched major financial interventions in the country, including a $8 billion Country Program designed to deepen economic growth. According to Dr. Elombi, South Africa’s membership builds on a strong pipeline of Afreximbank-led projects in the country, exceeding $6 billion and spanning healthcare, energy, manufacturing, financial services and mining.
Beyond South Africa, Afreximbank continues to advance financing for strategic projects across a myriad of sectors. Notable transactions include a $3.8 billion agreement with Gabon to support manganese and gold trading as well as energy development and rail infrastructure; a $25 million facility for Lilium Gold to support operations at the Boungou and Wahgnion mines in Burkino Faso; and a $1.75 billion syndicated receivables-purchase facility for Angola’s national oil company Sonangol. In Nigeria, the bank announced a $2.5 billion underwriting commitment – part of a $4 billion syndicated facility – for Dangote Petroleum and Petrochemicals as well as a $750 million reserve-based lending facility for Heirs Energies, supporting indigenous African energy capacity.
The bank was also responsible for the first-recorded Southern African energy sector transaction through the Africa Trade Gateway – a one-stop digital trade ecosystem developed by Afreximbank and the African Continental Free Trade Area. The transaction features a $5.3 million cross-border gasoil trade involving Zimbabwe. One of the most significant developments
Afreximbank’s mandate transcends energy. The bank continues to mobilize capital for infrastructure that can connect African markets, supporting continent-wide industrialization and job creation. In healthcare, the African Medical Center of Excellence in Ajuba, a landmark 170-bed specialty healthcare center developed by Afreximbank, has set a new standard in healthcare in the country. The facility treats more than 5,000 patients from over 20 countries, with plans to expand to 500 beds in the near-term.
“This is more than a list of transactions; it is a practical expression of economic sovereignty, financing African businesses, moving African commodities, developing African infrastructure and keeping more value on the continent,” Ayuk said. “Dr. Elombi is running his race. He is not chasing applause; he is building momentum. He knows that Africa’s future will be secured by institutions that are bold enough to invest, disciplined enough to deliver, and confident enough to believe in Africa’s own capacity.”
*AEC