By Modupe Gbadeyanka
Deputy Governor of the Central Bank of Nigeria (CBN), Mr Joseph Nnanna, has been announced Chairman of Africa Finance Corporation (AFC).
Mr Nnanna is taking over from Mrs Sarah Alade, a Deputy Governor, who recently retired from the apex bank.
AFC is a leading pan-African multilateral development finance institution and project developer.
It will celebrate its 10th anniversary on May 15 2017 at the AFC Live Summit.
The event will bring together many of the top international players in African infrastructure investment for high level discussions on the industry’s many challenges, and potential solutions.
Speaking on her term in office, Mrs Alade said, “It has been a privilege to serve as Chairman of such a dynamic and fast-growing organisation.
“I have had the pleasure of overseeing some of the company’s milestones, including the Company’s inaugural Eurobond, Swiss Franc (CHF) and Sukuk issuances, expansion of country membership from 9 to 14, expansion of the Corporation’s operational footprint to 28 countries, growth in the balance sheet to $3.4 billion, and, the creation of the African Power Platform vehicle with Harith General Partners of South Africa.
“I have no doubt that the Corporation will continue to flourish under my successor and wish both him and AFC the best in the future.”
Mr Nnanna has over three decades experience as an economist and banker and has served as a consultant to the government of Nigeria, the United Nations Conference on Trade and Development, and, on the Board of the International Monetary Fund.
Aduragbemi Omiyale