Africa Finance Corporation appoints Kirstine Damkjaer, ex-ceo of danish export credit agency, to its board

8 July 2021

Africa Finance Corporation, the leading infrastructure solutions provider in Africa, has appointed to its Board of Directors, Kirstine Damkjaer, the former Chief Executive Officer of EKF, Denmark’s Export Credit Agency. Ms. Damkjaer joins the Board of Directors as an independent non–executive director.

Prior to EKF, Ms. Damkjaer worked for several years at the International Finance Corporation (IFC) and the World Bank in various senior capacities, including as Global Industry Head of Equity, Manager in the Department of Global Infrastructure and Natural Resources, Principal of the IFC Asset Management Company and Principal Portfolio Manager at the World Bank Treasury, Pension Plan and Endowments. Ms. Damkjaer serves as non-executive director at several companies.

One of the region’s biggest investors in infrastructure development, AFC has invested over $8.7 billion in 35 countries across Africa, driving development and integrating the continent’s economies to transform lives. AFC uses its status as Africa’s second-highest investment-grade rated development finance institution to achieve lower cost funding for critical infrastructure, and draws in private investment by funding the development (pre-financial close) phase with project development funds to “de-risk” projects.

“Kirstine’s deep expertise in development finance, infrastructure investment and asset management are entirely aligned with AFC’s mission of unlocking Africa’s potential growth and job creation through provision of vital infrastructure,” said Samaila Zubairu, President and CEO of AFC. “We look forward to working with Kirstine to help us steer the Corporation into its next phase of strategic growth.”

Among her roles as an independent non-executive director, Ms. Damkjaer, a qualified Chartered Financial Analyst (CFA) with a Masters’ degree from the University of Aarhus, will serve on the Corporation’s Board Audit and Compliance Committee, and the Board Risk and Investment Committee.

“I am honoured to be joining AFC at such a pivotal time when, more than ever amid the COVID-19 pandemic, the Corporation’s technical expertise and unique access to global capital is critically needed by African governments working towards resilient economic recovery,” said Ms. Damkjaer.

AFC has 31 member countries, representing more than half the continent, and was recently named as an eligible organisation for providing Official Development Assistance (ODA) through the OECD Development Assistance Committee.