AFC Appoints New Chairman, Announces Changes to Board and Senior Management

Africa Finance Corporation, AFC, the infrastructure solutions provider in Africa, has announced the appointment of Dr. Kinglsey Obiora as its new Chairman as well as the appointment of Mr. Batchi Baldeh and Ms. Anastasia Proxenos as two Non-Executive Directors.

A distinguished economist who also currently serves as Deputy Governor (Economic Policy) of the Central Bank of Nigeria, Dr Obiora brings 19 years of banking and financial services experience. He has advised three Nigerian Presidents on economic policy, as well as a Governor of the Central Bank of Nigeria (CBN).

Dr. Obiora replaces Dr. Joseph Nnanna, who following three years of distinguished service to the Corporation, retires from AFC’s Board of Directors.

Alongside Dr. Obiora, AFC also announces Ms. Anastasia Proxenos joins the Corporation as an Independent Non-Executive Director.

Mr. Batchi Baldeh joins the Corporation as Non-Executive Director representing the African Development Bank following its recent equity subscription of AFC.

Also, Mr. Henry Oroh, joined AFC as a Non-Executive Director representing Zenith Bank International Plc, where he also holds the position of Executive Director.

Samaila Zubairu, President and CEO of AFC, commented on the announcement: “On behalf of the AFC Board, I welcome Dr. Obiora as Chairman. His experience, having had worked with governments and multilateral finance institutions in a variety of capacities, including debt sustainability and development financing, is incredibly relevant to the Corporation as we make strides to create inclusive and sustainable growth across Africa.

“I am also equally pleased to welcome Ms. Proxenos, Mr Oroh and Mr Baldeh to our Board of Directors, they will broaden and deepen the significant experience and skills of our Non-Executive Board and will assist the Corporation with its growth strategy.

“Lastly, I would like to thank Dr. Nnanna, who not only provided strong and excellent leadership to our organisation during a period of various transitions, but also gave much needed wise counsel. I speak on behalf of the Corporation as whole in thanking him for his service.”

Dr. Obiora also commented on the announcement: “AFC has over the past decade grown to become a leading investors in Africa, delivering projects that have transformed communities and economies. As I join the organisation as Board Chairman, I look forward to leveraging my experience to this esteemed organisation in helping it expand its investment footprint across the width and breadth of Africa.”