By Ayomide Otitoju
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has presided over the investiture of Dr. George Elombi as the fourth President and Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank) at a ceremony in Cairo, Egypt.
As Chairperson of the Afreximbank General Meeting, Edun praised outgoing President Professor Benedict Oramah for a decade of transformative leadership that strengthened the Bank’s balance sheet and enhanced Africa’s financial resilience.
A statement from the Ministry of Finance on Sunday described the leadership handover as a defining moment for the continent’s financial landscape, reinforcing Afreximbank’s central role in promoting Africa’s trade integration, industrialisation, and shared prosperity.
Afreximbank initiatives, including the Pan-African Payment and Settlement System (PAPSS) and the AfCFTA Adjustment Fund, have expanded opportunities for Nigerian businesses by facilitating smoother regional trade, easier currency settlement, and broader access to growth capital.
Edun hailed the transition as “a reaffirmation of Africa’s collective capacity to finance its development and chart its own economic destiny.”
Dr. Elombi, a long-serving executive instrumental in shaping Afreximbank’s governance and capital expansion, takes the helm with a mandate to continue empowering the African private sector.
“For Nigeria, this transition strengthens access to continental financing mechanisms, supports the government’s reform agenda, and unlocks greater export opportunities for domestic enterprises across key sectors,” the Ministry noted.
