By Adedapo Adesanya
African infrastructure solutions provider, Africa Finance Corporation (AFC), has announced the appointment of Mr Emeka Emuwa as Chairman of its Board of Directors as it seeks to expand its operations across the continent and build partnerships through international collaborations.
Mr Emuwa brings 30 years of experience in the banking sector to the table, including a 25-year career with Citibank, as well as a stint in Union Bank of Nigeria.
He has been a part of AFC’s Board since 2015, previously serving as the Chairman of the Board Risk and Investment Committee, and as a member of the Board Nominations and Governance Committee.
He is also the Chairman of Tangerine Financial (UK), the holding company for a financial services group providing insurance and pensions solutions across the continent, putting him in pole position to oversee and guide AFC on its future strategy and growth aspirations.
AFC’s mission to accelerate development impact, foster industrialisation, and enhance value capture and retention across the continent through the provision of critical infrastructure, is crucial for African development and prosperity.
Speaking on the appointment, the President and chief executive of AFC, Mrs Samaila Zubairu, said, “Mr Emuwa’s considerable experience, insightful perspectives and immense dedication to Africa’s development seamlessly align with our mission. We are confident that under his continued guidance, AFC will continue to make significant strides in transforming the continent. He brings a deep understanding of Africa’s financial landscape within a global context, and has a clear vision for enabling AFC to further amplify its impact.”
On his part, Mr Emuwa said, “I am deeply honoured to be appointed Chairman of AFC, an institution that has, over the past 16 years, evolved into the leading infrastructure investor in Africa, delivering transformational projects across pivotal sectors of the economy.
“I look forward to continuing to work closely with the board, management, and all stakeholders to advance AFC’s mission and strengthen its role as a driving force for economic growth and infrastructure development on the African continent.”
AFC with its partners is the biggest investor in renewable energy in Africa following its recent acquisition of Lekela Power, and leadership of major wind power projects including in Djibouti.
The corporation’s development of special economic zones through its investee company ARISE IIP is helping to diversify the economies of nine countries, building a global manufacturing powerhouse. AFC was appointed lead developer of the Lobito Corridor and Zambia-Lobito Rail Line, bringing together partners including the US government, the European Union, the African Development Bank and the governments of Angola, the Democratic Republic of Congo and Zambia.
The A3 rating (Moody’s) corporation and has successfully raised and mobilised significant amounts of capital from global markets and investors to work alongside African domestic capital to develop the African industrial and infrastructure base.
