Nigeria: Africa Finance Corporation (AFC) Appoints Emeka Emuwa as Board Chair

By InstinctBusiness Feb 22, 20240

Africa Finance Corporation (AFC) has appointed Emeka Emuwa as Chairman of its Board of Directors.

Emuwa served as Country Officer and Managing Director of Citibank Nigeria for 25 years.

Emuwa, who has previously served as Group MD and CEO of Union Bank of Nigeria, has been a member of the AFC’s board since 2015.

AFC holds an A3 rating from Moody’s and has effectively raised substantial 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, along with its partners, is the largest investor in renewable energy in Africa, highlighted by its acquisition of Lekela Power and leadership in major wind power projects such as those in Djibouti.