Africa Finance Corporation (AFC), the leading infrastructure development finance institution in Africa, has announced the appointment of Samaila D. Zubairu as the Corporation’s 3rd President & Chief Executive Officer. He succeeds Andrew Alli who has led the organization since 2008.
“On behalf of the Corporation, I am delighted to welcome Samaila Zubairu to AFC. In Samaila, we have identified an individual with the exceptional qualities across deal origination, execution, and capital raising that will continue to facilitate AFC’s ability to deliver transformational change through infrastructure investment as it moves into a new era,” said Dr. Okwu J. Nnanna, Chairman of AFC.
“His track record of operational excellence will be of huge benefit to AFC and all its stakeholders as we build on a decade that has seen AFC become a market leader in Africa’s infrastructure space, positively impacting millions of lives every day. I would like to thank Andrew Alli, who over the last decade has turned AFC from a start-up into the world class institution that it is today. His departure is truly our loss, and I am confident in saying I speak for all stakeholders to AFC in wishing Andrew the very best in his future endeavours.”
Samaila Zubairu is a distinguished Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an accomplished Infrastructure development finance specialist with over 29 years of professional experience. He is the CEO of Africapital Management Limited, in which position he established a joint venture with Old Mutual’s African Infrastructure Investment Managers (AIIM) to develop the Nigerian Infrastructure Investment Fund1(NIIF1) for infrastructure private equity across West Africa. He also recently coordinated the $300 million acquisition of Eko Electricity Distribution Plc.
He was 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. He has led finance transactions for over US$3 billion covering: green-field project finance facilities, acquisitions, corporate transformation initiatives, privatization and equity capital market transactions.
Samaila 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 is the Chairman of MDSA Nigeria Limited, a fintech company providing micro loans across sub-Saharan Africa. Samaila 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.
Samaila’s predecessor, Andrew Alli in his comment said: “Serving at the helm of AFC has been the highest privilege of my career. However, having served my tenor, I am leaving assured that in Samaila Zubairu, the Corporation will gain a truly confident self-starter and an industry heavy-weight ideally suited to lead AFC into the next chapter of its growth story. I wish him, and the AFC family, all the success for the future.
“As I depart, I am proud to look back on all the things we have been able to achieve across the width and breadth of the Continent, none of which would have been possible without the incredible colleagues I have been honoured to work with, the shareholders who gave me the opportunity to serve and the Board, which has given me support and direction. I shall remain forever grateful to all of them.”