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Africa Finance Corporation (AFC), the leading infrastructure development finance institution, has just appointed Samaila D. Zubairu as the Corporation’s 3rd President and Chief Executive Officer succeeding Andrew Alli who comes to the end of his tenure, having successfully served in the position since 2008. The appointment of Mr. Zubairu followed a six-month search process that saw over 100 candidates apply for the role.
Africa Finance Corporation (AFC) which is majority-owned by private investors and African financial institutions, is a pan-African multilateral development finance institution established in 2007 to bridge Africa’s infrastructure investment gap through the provision of debt and equity finance, project development, technical and financial advisory services.
Zubairu, a graduate of Accounting from the Ahamadu Bello University, Zaria, is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN). He was the Head of Investment Banking, Liberty Bank Plc from 1997-2001 and later group head, branch coordination, and risk management for the same bank and also the pioneer CFO for Dangote Cement Plc, during which he launched Africa’s largest syndicated project finance facility for a local corporate to actualize the Obajana Cement project and managed the watershed unbundling of Dangote Industries Limited to listed subsidiaries on the Nigerian Stock Exchange (NSE).he has been the CEO of Africapital Management Limited where he established a joint venture with Old Mutual’s African Infrastructure Investment Managers (AIIM) to develop the Nigerian Infrastructure Investment Fund 1(NIIF1) for infrastructure private equity across West Africa. He also recently coordinated the US$300 million acquisition of Eko Electricity Distribution Plc.
Zabairu is an Eisenhower Fellow and sits on the Eisenhower Fellowship’s Global Network Council as well as the President’s Advisory Council. He is also an Advisory Board member for KSE Africa, a leading Operations, and Management provider of captive power plants in the mining sector of Botswana and Nigeria, and he is the Chairman of MDSA Nigeria Limited, a FinTech company providing microloans across sub-Saharan Africa. Zabairu is the Independent Director and Chairman Statutory Audit Committee as well as a member of Finance and General-Purpose and Establishment and Governance Committees of Aiico Insurance Plc. He also serves as an Independent Director and Chairman of the Finance Committee for New Nigeria Commodity Marketing Company.
