Africa Finance Corporation (AFC) has appointed Emeka Emuwa as Chairman of its Board of Directors.
- Emuwa spent 25 years as Citibank, leaving as its Country Officer and Managing Director in Nigeria.
- He has also served as Group MD and CEO of Union Bank of Nigeria and has been part of the AFC’s board since 2015.
- AFC has an A3 rating (Moody’s) and has successfully raised and mobilised significant amounts of capital from global markets and investors.
“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,” Samaila Zubairu, President & CEO of AFC, said.
Emuwa has previously served as the Chairman of the Board Risk and Investment Committee, and as a member of the Board Nominations and Governance Committee on the AFC Board. 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.
“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,” Emuwa said while commenting on his appointment.
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.
- The project brings 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.
