…he was charged with a unified, prosperous Africa
Finance Minister and Coordinating Minister of Economy, Wale Edun, on Saturday administered the oath of office to the new President of the African Export-Import Bank (Afreximbank), George Elombi, charging him with leading with a vision of a unified and prosperous Africa.
Speaking at the ceremony at the Afreximbank Legacy Conference and Investiture in Cairo, Edun described the event as a historic and defining moment for Africa and the institution. He said Elombi's appointment represents continuity, renewal and a seamless transition built on the solid foundation laid by his predecessor Professor Benedict Orama.
“Elombi, you are no stranger to this institution. You now assume leadership at a pivotal moment, a time when Africa's destiny is being rewritten through resilience and innovation. Your appointment represents continuity, renewal and a seamless transition from the solid foundation laid by your predecessor sitting right next to you. It is a bold leap towards the future we all envision. Indeed, it is one of those One of the rare moments when the universe aligns is Africa's progress,'' he said.
Edun charged the new President with upholding Afreximbank's founding philosophy by deepening the Bank's role as a catalyst for Africa's self-reliance and prosperity. “Mr. President, your ascension is a testament to the founding philosophy that inspired this great institution. You have been called not just to lead a bank, but to advance the vision of a self-reliant, integrated and prosperous Africa,” he declared.
He described the occasion as a proud moment for Africa's financial community and extended warm greetings on behalf of President Bola Ahmed Tinubu and the people of Nigeria. He said, “I am particularly pleased to mark this extremely important and historic occasion. I would like to first of all extend my warm greetings and congratulations to the President of the Federal Republic of Nigeria, His Excellency President Bola Ahmed Tinubu and the good people of Nigeria on this extremely important investiture ceremony.”
Reflecting on the process of Elombi’s appointment, Edun recalled that four months ago, at the 32nd Afreximbank Annual Meeting, he had the honor of serving as Chairman during the announcement of the unanimous selection of Elombi as the fourth Chairman and President of the Bank’s Board of Directors. He said the appointment not only signals a change in leadership but also marks the beginning of a new era in Afreximbank's role in shaping Africa's economic sovereignty and trade future. “This appointment is not just a change in leadership; it is the beginning of a new era, a moment that reaffirms Afreximbank's central role in shaping Africa's financial sovereignty, its trading future and indeed, as Aliko Dangote rightly said, its manufacturing future,” Edun commented.
He appreciated the presence of global leaders, African heads of state and Afreximbank shareholders, and said their participation symbolizes a joint approach to Africa's development. “Your presence testifies to the enduring alliance we have built, based on our shared vision of Africa's future growth and prosperity,” he said.
Turning to Professor Benedict Orama, Edun paid moving tribute to the outgoing President, describing him as a visionary whose decade-long leadership redefined trade financing in Africa. “Over the past decade, under your visionary leadership, Afreximbank has not only financed trade across the continent; it has reshaped Africa's trade framework and repositioned the continent into the global economic arena,” Edun said.
He highlighted ORAMA's notable achievements, including the creation of the Pan-African Payments and Settlement System, the Intra-African Trade Initiative and the $800 million Facility for Special Economic Zones, which he said redefines how Africa does business. He praised Orma for steering the bank through turbulent global and regional challenges, from the COVID-19 pandemic to falling commodity prices and the Russia-Ukraine conflict. He said, “Through it all, with foresight, discipline, courage and an unwavering belief in the future of Africa, you have led from the front. Professor Oramah, you have been a blessing to Afreximbank, a blessing to the African continent and a blessing to Africans in the diaspora.”
Edun said that while Africa should celebrate its progress, it should also be mindful of the challenges that lie ahead. He stressed, “Even as we celebrate, we must be mindful that challenges lie ahead. Therefore, this gathering is not merely ceremonial, but an affirmation of our collective dream of building a prosperous, integrated and competitive Africa.”
Concluding his remarks, Edun formally invited George Elombi to take the oath of office as the new President of Afreximbank. He said, “As soon as I conclude my remarks, and in accordance with the Bank's charter, I will now administer the oath of office. I respectfully invite George Allombie to join me in taking the oath of office and then deliver his remarks.”
The ceremony also included remarks from Selma Malika Haddadi, Vice-Chair of the African Union Commission, who praised Afreximbank's strategic partnership with the African Union and paid tribute to ORMA's leadership. He said Afreximbank has consistently worked hand in hand with the African Union in advancing the integration, industrialization and economic transformation of the continent.
Haddadi said, “Professor Benedict Orama's tenure has been marked by courage, humility, unwavering determination and the rare ability to transform vision into tangible impact. Across the continent, he is known simply as the man who makes things happen.”
He commended Elombi's appointment as a continuation of his strong and visionary leadership for the institute. He said, “Leadership is not the end; it is a relay. This afternoon, the torch has been passed. You have inherited not a ship waiting for direction but a strong, visionary and respected institution. You are the best successor to your best predecessor.”
