Africa Finance Corporation (AFC), an investment grade multilateral finance institution which was established in 2007, provides financial services in power, natural resources, heavy industry, transport, and telecommunications sectors to 10 African countries, namely: Liberia, Nigeria, Sierra-Leone, The Gambia, Gabon, Cape Verde, Chad, Ghana, Guinea-Bissau, Guinea. Earlier in the month of October 2015, Cote d’Ivoire became the 11th AFC member.
In January 2015, AFC implemented a new organisational structure to increase the corporation’s client responsiveness by creating sector clusters, that would each be responsible for delivering all of AFC’s products to clients within those sectors, simplifying the corporation’s structure and increasing responsiveness.
Following this, Mr. Sanjeev Gupta has emerged as Executive Director, Financial Services at AFC. In this role, he will have responsibility for treasury, financial advisory and the newly created Financial Institutions Division. Mr. Gupta brings a wealth of experience to the corporation. Previously, he was Managing Partner in charge of Emerging Markets M&A at Ernst Young Transaction Advisory Services. He was also Founder and Managing Partner of Emerging Opportunity Consulting, as well as Chief Executive Officer, Sanlam Investment Management responsible for Emerging Markets. Mr. Gupta has a bachelor’s degree from the University of Calcutta, India and is an alumnus of the Said Business School Oxford. He is a fellow of the Institute of Chartered Accountants of India (FCA), and a member of the Institute of Investment Analysts of South Africa.
“AFC was formed to provide financing solutions to infrastructure projects in Africa. So far we have made considerable progress over the last 8 years of operations. Nonetheless, we are at a point where we need to reinvent ourselves and sustain the momentum. We believe that the new organization structure will put the AFC on the right path. The inclusion of Sanjeev as a member of AFC’s executive management team is an excellent addition that, with his experience and the complementary skill set that he possesses, will further enhance the Corporation’s ability to deliver on its mandate. My other colleagues and I wish Sanjeev a warm welcome and are excited to have him join the organisation” said Mr. Andrew Alli, Chief Executive Officer of AFC.
Also, the former Executive Director, Corporate Services, Dr. Adesegun Akin-Olugbade was appointed Executive Director and Chief Operating Officer of AFC taking on additional responsibilities for IT and the newly-established, Investor and Country Relations functions. He however remains the Corporation’s General Counsel and Head of Legal Department. In the same vein, the Corporation’s former Director and Chief Coverage Officer Mr. Oliver Tunde Andrews was appointed AFC’s Executive Director and Chief Investment Officer in September, 2014. In his current capacity, he is responsible for creating the corporation’s deal pipeline, leading end-to-end deal execution and managing the corporation’s investment portfolio.