Edun administers oath of office to Afreximbank’s new president
…charges him for integrated, prosperous Africa
Wale Edun, minister of finance and coordinating minister of the Economy, on Saturday administered the oath of office to George Elombi, the new President of the African Export-Import Bank (Afreximbank), charging him to lead with a vision of an integrated and prosperous Africa.
Performing 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 represented continuity, renewal, and a seamless transition built on the solid foundation laid by his predecessor, Professor Benedict Oramah.
“Elombi, you are no stranger to this institution. You now assume leadership at a defining 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 toward the future we all envisage. Indeed, this is one of those rare moments when the universe aligns for Africa’s progress,” he said.
Edun charged the new president to sustain 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 are called not just to lead a bank, but to steward a vision, a vision of a self-reliant, integrated, and prosperous Africa,” he declared.
He conveyed warm felicitations from President Bola Ahmed Tinubu and the people of Nigeria, describing the occasion as a proud moment for Africa’s financial community. “I am particularly delighted to oversee this all-important and historic occasion. I would like first of all to pass on the warm felicitations and congratulations of His Excellency, President Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, and the good people of Nigeria on this all-important investiture ceremony,” he said.
Reflecting on the process leading to Elombi’s appointment, Edun recalled that four months earlier, at the 32nd Afreximbank Annual Meetings, he had the honour to serve as Chairperson during the announcement of Elombi’s unanimous selection as the fourth President and Chairman of the Board of Directors of the Bank. He noted that the appointment signified not just a change in leadership but the dawn of a new era in Afreximbank’s role in shaping Africa’s economic sovereignty and trade future. “This appointment is not merely a change in leadership; it is the dawn of a new era, a moment that reaffirms Afreximbank’s central role in shaping Africa’s financial sovereignty, its trade future, and, indeed, as Aliko Dangote rightly said, its manufacturing future,” Edun remarked.
He commended the presence of global leaders, African heads of state, and Afreximbank shareholders, noting that their participation symbolized a united vision for Africa’s growth. “Your presence testifies to the enduring coalition we have built, a coalition grounded in our shared vision of Africa’s future development and prosperity,” he said.
Turning to Professor Benedict Oramah, Edun paid glowing 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 architecture and repositioned the continent in the global economic arena,” Edun stated.
He highlighted Oramah’s notable achievements, including the creation of the Pan-African Payment and Settlement System, the intra-African trade initiatives, and the 800 million dollar facility for special economic zones, which he said redefined how Africa does business. He praised Oramah for steering the Bank through turbulent global and regional challenges, from the COVID-19 pandemic to commodity price collapses and the Russia-Ukraine conflict. “Through it all, with vision, discipline, courage, and an unshakable belief in Africa’s future, 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,” he said.
Edun noted that while Africa must celebrate its progress, it must also remain mindful of the challenges ahead. “Even as we celebrate, we must remain mindful that challenges lie ahead. This gathering, therefore, is not just ceremonial but a reaffirmation of our collective dream to build a prosperous, integrated, and competitive Africa,” he stressed.
Concluding his remarks, Edun formally invited George Elombi to take the oath of office as the new President of Afreximbank. “As I bring my remarks to a close, and in accordance with the Charter of the Bank, I will now administer the Oath of Office. I respectfully invite George Elombi to join me in taking the Oath of Office and subsequently to deliver his remarks,” he said.
The ceremony also featured remarks from Selma Malika Haddadi, deputy chairperson of the African Union Commission, who praised Afreximbank’s strategic partnership with the African Union and paid tribute to Oramah’s leadership. She said Afreximbank had consistently worked hand in hand with the African Union in advancing the continent’s integration, industrialisation, and economic transformation.
Haddadi added, “Professor Benedict Oramah’s tenure has been marked by courage, humility, unwavering resolve, and the rare ability to translate vision into tangible impact. Across the continent, he is known simply as the man who makes things happen.”
She commended Elombi’s appointment, describing it as a continuation of strong and visionary leadership for the institution. “Leadership is not an end; it is a relay. This afternoon, the torch is passed. You inherit not a vessel awaiting direction but a strong, visionary, and respected institution. You are the best successor to the best predecessor,” she said.
