L-R: Henry Oroh, Dr. Kingsley Obiora, Batchi Baldeh and Ms. Soula Proxenos.
Africa Finance Corporation (“AFC” or the “Corporation”), the leading infrastructure solutions provider in Africa, today announces the appointment of Dr. Kingsley Obiora as its new Chairman as well as the appointment of Mr. Henry Oroh, Ms. Soula Proxenos, and Mr. Batchi Baldeh Non-Executive Directors.
Appointment of Dr. Obiora as Chairman of the Board of Directors
A distinguished economist who also currently serves as Deputy Governor (Economic Policy) of the Central Bank of Nigeria, DrObiora brings 19 years of banking and financial services experience. He has advised three Nigerian Presidents on economic policy, as well as a Governor of the Central Bank of Nigeria (CBN).
Prior to this, he was an Alternate Executive Director in the International Monetary Fund (IMF) in Washington DC, USA. In this capacity, he was a member of the Executive Board, collectively responsible for conducting the daily operations of the IMF. He also assisted to represent the interests of 23 African Countries, including Nigeria, at the Board.
Dr. Obiora holds two doctorates, the first in Monetary & International Economics, and the second in Econometrics, from the University Ibadan, Nigeria and the George Washington University, USA respectively.
Dr. Obiora replaces Dr. Joseph Nnanna, who following three years of distinguished service to the Corporation, retires from AFC’s Board of Directors.
Additional appointments
Alongside Dr. Obiora, AFC also announces the following board appointments:
Ms. Proxenos was also Managing Director at the US’s Fannie Mae’s International Housing Financial Services as well as having had responsibility for transforming Old Mutual’sbusiness prior and during South Africa’s political transformation. She brings more than 30 years of financial services experience and holds an MBA from Stellenbosch as well as a BA from Witwatersrand University.
Mr. Baldeh holds a BSc (Hons) in Electrical & Electronic Engineering from Newcastle-upon-Tyne University, UK and is a member of the Institute of Engineering & Technology, UK, as well as a fellow of the Institute of Directors, Southern Africa. He also holds MBA from Boston University, USA,
A chartered accountant, Mr. Oroh holds an LLB from the University of London, a bachelor’s degree in accounting from the University of Benin and is a member of the Chartered Institute of Bankers, Nigeria. He also holds MBA from the Lagos State University.
Samaila Zubairu, President & CEO of AFC, commented on the announcement: “On behalf of the AFC Board, I welcome Dr. Obiora as Chairman. His experience, having had worked with governments and multilateral finance institutions in a variety of capacities, including debt sustainability and development financing, is incredibly relevant to the Corporation as we make strides to create inclusive and sustainable growth across Africa.
“I am also equally pleased to welcome Ms. Proxenos, Mr Orohand Mr Baldeh to our Board of Directors, they will broaden and deepen the significant experience and skills of our Non-Executive Board and will assist the Corporation with its growth strategy.
“Lastly, I would like to thank Dr. Nnanna, who not only provided strong and excellent leadership to our organisationduring a period of various transitions, but also gave much needed wise counsel. I speak on behalf of the Corporation as whole in thanking him for his service.”
Dr. Obiora also commented on the announcement: “AFC has over the past decade grown to become a leading investors in Africa, delivering projects that have transformed communities and economies. As I join the organisation as Board Chairman, I look forward to leveraging my experience to this esteemed organisation in helping it expand its investment footprint across the width and breadth of Africa.”
