George Elombi, the newly appointed President of the African Export-Import Bank (Afreximbank), praised his predecessor Professor Benedict Oramah for transforming the institution from a modest bank into what he described as “Africa’s development supermarket.”

Speaking during the Farewell Conference and Investiture Ceremony, held in Egypt’s New Administrative Capital, Elombi highlighted the remarkable growth of Afreximbank, noting that it expanded from “a relatively small institution with only $6 billion in assets  and just $105 million a few years earlier, to over $40 billion today.”

Elombi commended Oramah’s “clear vision and determination” in accelerating Africa’s trade and deepening the continent’s economic integration. “When he assumed office in 2015, his vision was clear, building upon the foundation established by his predecessor, and propelling the bank to become a leading force in Africa’s development,” he said.

The new president also described Oramah as “a generous and energetic leader”, saying his energy and courage are very evident.

He highlighted key achievements from that period, including the establishment of specialized entities such as the Fund for Export Development in Africa (FEDA), the Project Preparation Facility, and the African Medical Centre of Excellence, all of which contributed to building a more inclusive and sustainable economic foundation for the continent.

The new President noted that Afreximbank today offers a comprehensive suite of financial and investment solutions, underscoring its continued leadership in advancing the African Continental Free Trade Area (AfCFTA), promoting local manufacturing, and enhancing private sector participation in development.