Afreximbank’s Executive Vice-President, Dr. George Elombi, has shed light on the transformative leadership of Professor Benedict Oramah, whose decade at the helm turned the institution from a modest US$6 billion entity in 2015 into a continental giant boasting assets of over US$40 billion.
Speaking at a farewell conference in Cairo held in Oramah’s honour, Elombi credited this remarkable growth to the outgoing president’s “Portfolio Approach” — a strategic model built on bold vision, decisive action, and a deep understanding of Africa’s trade ecosystem.
Recalling a remark from the Governor of the Central Bank of Nigeria, Elombi noted that Oramah stood among the rare few who effectively marry “vision and execution.”
> “In June this year, the Governor of the Central Bank of Nigeria described Professor Oramah as one of the few in the world — the 0.8 per cent — who combines vision and execution.
Some have vision but cannot execute; others can execute but lack vision. Oramah has both,” Elombi said.
Tracing Oramah’s journey within the bank, Elombi painted a picture of a man driven by energy, resilience, and a relentless pursuit of excellence.
> “He was a hustler — a credit officer, legal officer, strategist, the president’s personal assistant, and chief adviser. His energy, courage, and tenacity were always evident,” Elombi recounted.
By the time Oramah rose to the presidency, his strategic direction was unmistakable. Rather than focusing narrowly on trade finance, he envisioned a holistic, continent-wide transformation strategy — one that addressed not just trade itself but also the infrastructure, systems, and institutions underpinning it.
> “This became known as the ‘portfolio approach’ — a combined strategy that targeted the roots, branches, and stem of Africa’s trade challenges,” Elombi explained.
The impact of this approach was swift and profound. Under Oramah’s leadership, Afreximbank evolved from a relatively small player into a $40 billion institution with global relevance. The expansion also birthed vital subsidiaries, including FEDA, AfrexInsure, and the African Medical Centre of Excellence (AMCE), solidifying the bank’s role as, in Elombi’s words, “Africa’s development supermarket.”
Beyond the impressive financial metrics, Elombi said Oramah’s greatest legacy lies in the culture of confidence and possibility he inspired across the organisation.
> “You have instilled in us a can-do spirit — the courage to keep challenging the status quo,” Elombi told Oramah, pledging the bank’s commitment to carrying forward the transformative vision he set in motion.
