AFC appoints new president and CEO

Infrastructuredevelopment finance institutionAfricaFinance Corporation (AFC) has appointed Samalia Zubairu as the corporation’s third president and CEO, succeeding Andrew Alli.

This followed a six-month search process and the submission of 100 candidate applications. Zubairu is a distinguished Fellow of the Institute of Chartered Accountants of Nigeria and an accomplished infrastructure development finance specialist with 29 years of professional experience.

He is also CEO of Africapital Management, where he established a joint venture with Old Mutual’s African Infrastructure Investment Managers to develop the Nigerian Infrastructure Investment Fund for infrastructure private equity across West Africa. Moreover, Zubaira sits on the Eisenhower Fellowship’s Global Network Council and is an advisory board member for KSE Africa – a leading operations and management provider of captive power plants in the mining sectors of Botswana and Nigeria.

Additionally, he is the chairperson of MDSA Nigeria – a fintech company that provides microloans across sub-Saharan Africa. Zubairu commented that AFC, in the last decade, has grown its balance sheet by a remarkable 400% and produced competitive returns, while transforming African economies through innovative infrastructure development and financing.

“As the incoming president and CEO, I am confident of AFC’s market position as being best placed to surmount Africa’s multi-sectoral infrastructure challenges and, no doubt, this success has been achieved in no small part because of Alli and his team of exceptional professionals.”