AFC Names Ireti Samuel-Ogbu as New Chair of Board of Directors – International Edition
The Africa Finance Corporation (AFC), which is the premier institution for infrastructure development in the continent, has named Mrs. Ireti Samuel-Ogbu as the new Chairperson of its Board of Directors. This appointment comes after Mr. Emeka Emuwa concluded his 12-year tenure with commendable dedication to the organization.
Ms. Ogbu boasts an extensive career spanning more than thirty years in reshaping and directing the financial industry across Europe, the Middle East, and Africa. Most recently, she was at the helm of Citi’s institutional operations in Nigeria and Ghana, overseeing activities in Banking, Markets, and Services.
Throughout this time, she navigated the franchise through major economic and regulatory challenges, bolstering its strategic drive and toughness.
Her global tenure at Citibank encompassed high-ranking executive positions spanning more than 50 countries in the EMEA region, with her serving stints in the UK, Nigeria, and South Africa.
Mrs. Samuel-Ogbu boasts significant corporate governance experience, having served as a Non-Executive Director at Citibank Nigeria for six years before taking on the role of Managing Director. She also chaired the Risk Committee during her tenure there.
She was also part of the CHAPS Clearing UK board, which oversees high-value payments systems currently managed by the Bank of England, as well as serving with a UK-based charity called Opportunity International.
Her deep expertise and steadfast commitment to advancing Africa qualify her as an invaluable resource for AFC, particularly now when the corporation is more dedicated than ever to hastening Africa’s progress via daring investments, pioneering financial strategies, and transformative collaborations.
Recently, AFC reported a historic fiscal year 2024 financial outcome, recording a total revenue growth of 22.8%, reaching $1.1 billion—a figure that exceeded the billion-dollar mark for the very first time.
This impressive performance was fueled by various transformative initiatives such as serving as the Lead Project Developer for the Lobito Corridor, a game-changing multicountry transportation system linking Angola, Zambia, and the Democratic Republic of Congo (DRC). Additionally, it included providing funds for expanding the Kamoa-Kakula Copper Complex within the DRC—one of the planet’s most high-grade, low-emission underground copper mines—as well as offering financial backing for bringing into operation the Dangote Refinery, which stands as the biggest facility of its kind in Africa.
Commenting on the appointment, Samaila Zubairu, President & CEO of AFC, stated: "We are pleased to announce Mrs Ireti Samuel-Ogbu as the new Chair of the Board."
Her extensive experience, forward-thinking guidance, and profound knowledge of Africa’s economic environment will be crucial as we move into our next stage of development—amplifying our influence, securing critically required funds, and implementing groundbreaking initiatives that foster equitable and durable progress throughout the region."
Mrs. Ireti Samuel-Ogbu remarked, "It is with great honor that I assume the position of Chair at AFC, an organization that acts as a reliable link between global finances and the vibrant economic prospects in Africa."
I am eager to collaborate closely with the board, management, and all stakeholders to further the Corporation’s mission and enhance its position as the premier source of investment-driven strategies aimed at realizing Africa’s complete economic potential.