The new President of the African Export-Import Bank (Afreximbank), Dr George Elombi, has launched a five-year strategic plan aimed at transforming Africa’s trade structure and deepening economic integration across the continent.
Elombi unveiled the plan during his investiture as Afreximbank’s fourth president at the Legacy Conference and Investiture held in Cairo, Egypt. He announced that the bank would explore the development of a Pan-African digital currency, including stable coins, to strengthen cross-border financial transactions and promote seamless trade within Africa.
A major focus of the new strategy is the mobilisation of global African capital through stronger engagement with the diaspora, with the goal of attracting investments, fostering innovation, and boosting intra-African trade.
The event, themed “Decades of Impact as Building Blocks for a Prosperous Future,” marked the beginning of a new chapter for the bank. Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, administered the oath of office to Elombi during the ceremony.
In his inaugural address, the Cameroonian-born lawyer outlined a seven-point agenda to reshape Africa’s economic landscape and strengthen value addition across sectors.
He stressed that Afreximbank’s primary objective under his leadership would be to halt the export of raw commodities and promote processing within the continent to build sustainable value chains.
Elombi described this vision as a continuation of the pan-African ideals championed by leaders such as Marcus Garvey and Kwame Nkrumah, affirming the bank’s commitment to advancing Africa’s self-reliance and industrial transformation.
