Africa Finance Corporation (AFC) has appointed Emeka Emuwa as the Chairman of its Board of Directors, a move signaling the corporation’s commitment to strong leadership and strategic guidance.
The former Union Bank CEO whose tenure ended in 2021 is a seasoned professional with a remarkable track record spanning over three decades, has played pivotal roles in transforming banking institutions across the African continent.
AFC, in partnership with others, is a major investor in renewable energy in Africa and leads significant wind power projects, contributing to the continent’s economic diversification.
The corporation, with an A3 rating from Moody’s, has successfully mobilized capital from global markets and investors, working alongside domestic capital to develop Africa’s industrial and infrastructure base.
The appointment of Emeka Emuwa is expected to further enhance AFC’s strategic direction and impact across the continent.
Background
Notably, Emuwa spent 25 years at Citibank, culminating in his role as Country Officer and Managing Director of Citibank in Nigeria.
Following this distinguished career, he assumed the position of Group Managing Director and Chief Executive Officer at Union Bank of Nigeria, where he successfully led the bank through a transformative phase, collaborating with new stakeholders to restore its position as a formidable financial services provider for 8 years.
He has been associated with AFC since 2015, initially serving as the Chairman of the Board Risk and Investment Committee. His deep understanding of the financial landscape in Africa, coupled with his extensive experience, positions him as a valuable asset for AFC during a period of rapid expansion and international collaboration.
More insights
Emuwa, in his role as Chairman, is expected to leverage his wealth of experience to guide AFC in its strategic initiatives. His previous leadership roles in major financial institutions, including his tenure as Special Adviser to the Minister of Finance and Technical Adviser to the Minister of National Planning, reflect his dedication to shaping economic policies and driving development.
In a statement, Mr. Emuwa expressed deep honor at his appointment and conveyed his commitment to advancing AFC’s mission. He emphasized the corporation’s transformative role in the past 16 years as a leading infrastructure investor in Africa, delivering projects that contribute to economic development in crucial sectors.
AFC, under Mr. Emuwa’s leadership, has been at the forefront of significant initiatives, including its status as the largest investor in renewable energy in Africa.
The recent acquisition of Lekela Power and leadership in major wind power projects underscore AFC’s commitment to sustainable and impactful ventures.
With an A3 rating from Moody’s, AFC has successfully mobilized capital from global markets, collaborating with domestic investors to bolster Africa’s industrial and infrastructure base. The appointment of Mr. Emeka Emuwa is poised to propel AFC toward new heights of success and influence in the African financial landscape.
