Samaila Zubairu Appointed Third President and CEO of Africa Finance Corporation

The African Finance Corporation ("AFC" or "the Company"), the leading institution financing infrastructure development in Africa, announced the appointment of Samaila D. Zubairu as the Company's third President and Chief Executive Officer, succeeding Andrew Alli who is coming to the end of his tenure, he has held this position successfully since 2008.

Samaila Zubairu is an Emeritus Member of the Institute of Chartered Accountants of Nigeria (ICAN) and an Infrastructure Development Finance Specialist accomplished with over 29 years of professional experience. He is the CEO of Africapital Management Limited, where he established a joint venture with African Infrastructure Investment Managers (AIIM) of Old Mutual to develop the Nigerian Infrastructure Investment Fund1 (NIIF1) for Private Equity Infrastructure. in West Africa. He also coordinated the acquisition of Eko Electricity Distribution Plc for $ 300 million.

He was the first CFO of Dangote Cement Plc, during which he launched the largest project financing facility for a local company. Dangote Industries Limited's watershed unbundling to subsidiaries listed on the Nigerian Stock Exchange. He has led more than US $ 3 billion in financing operations covering: project financing, acquisitions, transformation initiatives, privatizations and equity market transactions.

Samaila is a member of the Eisenhower Fellowship Global Network Council. as well as the President's Advisory Council. He is also a member of the advisory board of KSE Africa, a leading provider of captive operations and management in the mining sector in Botswana and Nigeria. He is also president of MDSA Nigeria Limited, a microcredit finance company in sub-Saharan Africa. Samaila is the independent director and chairman of the statutory audit committee, as well as a member of the finance and general administration and governance committees of Aiico Insurance Plc. He is also an independent director and chairman of the New Nigeria Commodity Marketing Company Finance Committee.

Mr. Zubairu's appointment follows a six-month research process that saw more than 100 candidates apply for the position. Mr. Zubairu will officially take up this position imminently.

Okwu J. Nnanna, President of the AFC, said: "On behalf of the Society, I am delighted to welcome Samaila Zubairu to the AFC." In Samaila, we have identified a a person with the exceptional qualities of origination, execution and capital raising that will continue to facilitate AFC's ability to bring about transformational change through infrastructure investment while and # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # 39, it is entering a new era The AFC and all its stakeholders will benefit tremendously from operational excellence as we capitalize on a decade that has seen AFC become a market leader of infrastructure in Africa, which has had a positive impact on millions of lives every day.I would like to thank Andrew Alli who, over the past decade, has made AFC a start-up has become the world clbad institution that she is today.His departure is We are truly lost, and I am confident that I speak on behalf of all AFC stakeholders, wishing Andrew the best in his future endeavors. "

Mr. Samaila Zubairu, AFC's new President and CEO, commented on this announcement:" Africa Finance Corporation is one of the most dynamic organizations in the continent. Over the last decade, we have seen the organization increase its balance sheet by 400%, produce competitive returns, while transforming African economies through the development and financing of innovative infrastructure. So I am enormously humbled by the honor of this appointment at the helm of such a distinguished organization. "

" As the new President and CEO, I am confident that AFC is best positioned to overcome the multi-sectoral challenges of Africa. and, without a doubt, this success has been achieved largely thanks to the outgoing President and CEO of AFC, Mr. Andrew Alli, and his team of exceptional professionals. I therefore look forward to joining the highly reputed team of AFC and together, to enhance AFC's position as an extremely capable project partner, capable of delivering sustainable development across the continent. "

Andrew Alli, outgoing president and CEO of the AFC, also commented on the announcement:" Serving as head of the AFC has been the biggest privilege of However, after serving my tenor, I leave confident that at Samaila Zubairu, the Company will gain a truly badured share of confidence and a heavyweight industry ideally suited to drive AFC in the next chapter. I wish him and the AFC family every success for the future. "

" When I left, I'm proud to come back to all that we were able to achieve across the width of the continent, none that would have been possible without the incredible colleagues with whom I had the honor to work, the shareholders who gave me the opportunity. opportunity to serve and the board of directors, who brought me support and direction. I will remain forever grateful to them. "

Distributed by Africa Media Agency (AMA) on behalf of Africa Finance Corporation (AFC).