Africa Finance Corporation Appoints Emeka Emuwa as Chairman of Board
Lagos, 13 February 2024: Africa Finance Corporation (AFC), the continent's leading infrastructure solutions provider, today announces the appointment of Mr. Emeka Emuwa as Chairman of its Board of Directors.
Mr. Emuwa brings unique experience from over three decades leading and transforming banking institutions across Africa, serving as the Group Managing Director and Chief Executive Officer of Union Bank of Nigeria, after a 25-year career with Citibank where he was Country Officer and Managing Director of Citibank in Nigeria.
Mr. Emuwa's extensive experience and unwavering dedication to the advancement of Africa make him a valuable asset to AFC. His leadership will play a pivotal role in shaping AFC's strategic vision, aimed at accelerating development impact, fostering industrialization, and enhancing value capture and retention across the continent through the provision of critical infrastructure. This appointment comes at a time when AFC is rapidly expanding its operations across the continent and building partnerships through international collaborations.
Speaking on the appointment, Samaila Zubairu, President & CEO of AFC, 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.”
Mr. Emuwa has been a part of AFC’s Board for the past decade, 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 (U.K.), the holding company for a financial services group providing insurance and pensions solutions across the continent.
Mr. Emuwa commented on his appointment, saying: “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.
About AFC
AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 42 member countries and has invested US$13 billion across Africa since inception.
Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile +234 1 279 9654
Email: yewande.thorpe@africafc.org