Africa Finance Company (AFC), has appointed Banji Fehintola as its new Govt Director of {Financial} Companies, efficient August 1.
In response to a press release from the Company, Banji brings in depth {financial} experience and management expertise to drive AFC’s strategic initiatives to additional strengthen its {financial} place and improve the Company’s progress trajectory.
Fehintola, who joined the Company in 2008 and rose by the ranks to turn out to be AFC’s pioneer Treasurer, was stated to have been instrumental in securing the Company’s investment-grade credit standing and elevating over US$ 12 billion in funding for AFC by various funding sources.
His new position
The Company famous that with over twenty years of in depth expertise in international markets, {financial} companies, and infrastructure finance throughout Africa, Fehintola introduced a wealth of experience to his new position at AFC.
In his new place as Govt Director of {Financial} Companies, AFC stated Fehintola would oversee a number of features together with Treasury and {Financial} Establishments, {Financial} Advisory, Syndications, and the newly created Capital Mobilization and Partnerships.
The Companies stated his appointment would play a pivotal position in strengthening AFC’s unwavering dedication to unlock pragmatic options for infrastructure tasks that improve native worth seize and spur industrialization.
The predecessor
AFC stated Fehintola shall be taking up from Sanjeev Gupta, who completes the ultimate time period of his appointment with the Company in October of this 12 months, following 9 years of outstanding service to the Company.
In response to the Company, throughout Sanjeev’s management, AFC’s {Financial} Companies division developed sturdy {Financial} Advisory and Debt Syndication groups to offer structuring and distribution options for the market, reaching quite a few profitable milestones for his or her purchasers and the Company.
“These embrace a fivefold enlargement in borrowings from US$1.6 billion to over US$8 billion, exceptional progress of treasury property from US$1.47 billion to US$ 5.29 billion, elevating new fairness capital of roughly US$ 1 billion, diversifying its shareholder base and a big improve of AFC’s nation membership from 13 to 43 member nations; efficiently solidifying AFC’s place available in the market as a really pan-African establishment,” the AFC acknowledged.
What they’re saying
Commenting on the appointment, President and CEO of AFC, Samaila Zubairu, stated:
“We’re immensely grateful for Sanjeev’s 9 years of devoted service to AFC and his vital contributions to supporting the Company’s progress and affect on the African continent and past.
“In the identical vein, we’re thrilled to welcome Banji as our new Govt Director, {Financial} Companies. His deep understanding of the worldwide {financial} panorama, coupled together with his sturdy observe file and institutional historical past with AFC make him a invaluable addition to our Board and government workforce, and we stay up for leveraging his capabilities to construct on our success.”
On his half, the newly appointed Govt Director, Fehintola, stated:
“I’m very honoured to tackle this new position at AFC, an establishment that could be very expensive to my coronary heart and at which I’ve spent the biggest a part of my profession. By taking part in a vital position in shaping the way forward for Africa’s infrastructure panorama, AFC’s mission connects straight with my private objective and keenness.”
“I stay up for constructing on the sturdy basis that Sanjeev has laid and dealing with the chief administration workforce and the Board to speed up growth affect for Africa.”
What you need to know
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments throughout Africa. It was established to assist deal with Africa’s infrastructure wants and challenges.
The Company has 43 member nations together with Nigeria, which is the host nation. AFC stated it has invested US$13 billion in tasks throughout 36 African nations since inception.
