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South Africa : AFC announces new appointments to its board

August 2, 2014

The Africa Finance Corporation (AFC) declared that it has selected the deputy governor, Economic Policy of the Central Bank of Nigeria (CBN) Dr Sarah Alade to its board.

The appointment took place following the retirement of two members of the corporation s board, Mr Adebayo Ogunlesi and Mr Aliyu Dikko.

AFC has also appointed on the board of the AFC as a director is Mr Lamido Yuguda, the director of Reserves Management at the CBN.

I am privileged to take up the chairmanship of the AFC at a significant time for the Corporation. With a strong and growing balance sheet, an expanding geographically diverse base and a deep pipeline of new investment opportunities, the corporation is very well placed to continue to deliver on its mission to foster the economic growth and industrial development of African countries, said Alade.

On behalf of the Board, I would like to offer my warmest thanks to our out-going chairman and to Mr Aliyu Dikko for their service, said the AFC president and chief executive, Andrew Alli, Ogunlesi has served with distinction for the last five years. He has provided invaluable guidance and support as we have built the corporation into one of Africa s leading multilateral finance institutions.

Under his leadership, we have demonstrated the commercial viability of African infrastructure as an asset class, delivering consistent annual profitability, while funding several projects over the last 5 years., said Alli, His tenure culminated in the award of an A3 (long term) /P2 (short term) foreign currency debt rating, making the AFC the second highest investment grade rated multilateral financial institution on the African continent.

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Source: TendersInfo (India)

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