Emuwa Takes the Chairmanship of the Board of AFC - Africa’s premier report on the oil, gas and energy landscape.

Emuwa Takes the Chairmanship of the Board of AFC

Africa Finance Corporation (AFC) has appointed Emeka Emuwa as Chairman of its Board of Directors.

The energy and infrastructure financier says that the new chairman’s “extensive experience and unwavering dedication to the advancement of Africa make him a valuable asset to AFC at a time when the Corporation is rapidly expanding its operations across the continent and building partnerships through international collaborations”.

AFC says in a release: “Mr. Emuwa brings a wealth of experience spread over three decades leading and transforming banking institutions across Africa”.

AFC claims it is, with its partners, “the biggest investor in renewable energy in Africa following its recent acquisition of Lekela Power, and leadership of major wind power projects including in Djibouti.

“The Corporation’s development of special economic zones through its investee company ARISE IIP is helping to diversify the economies of nine countries, building a global manufacturing powerhouse. AFC was appointed lead developer of the Lobito Corridor and Zambia-Lobito Rail Line, bringing together partners including the US government, the European Union, the African Development Bank and the governments of Angola, the Democratic Republic of Congo and Zambia.

The Lagos Nigeria headquartered AFC is also deeply involved in the oil and gas industry. It is the sole shareholder of Aker Energy, which has a 50% stake in the Deepwater Tano Cape Three Points (DWT/CTP) Block offshore Ghana. This acreage contains the ultradeepwater Pecan oil field and other discoveries with estimated reserves in the range 450Millio Barrels of Oil Equivalent (MMboe) to 550MMboe.

About its new chairman, AFC says:  “After completing a sterling 25-year career with Citibank where he left as the Country Officer and Managing Director of Citibank in Nigeria, he went on to serve as the Group Managing Director and Chief Executive Officer of Union Bank of Nigeria. In this role, he led the bank’s transformation and worked successfully with the new shareholders to transform and restore one of Nigeria’s oldest institutions back to its rightful position as a credible and strong provider of financial services”.

Emuwa has been a part of AFC’s Board since 2015, previously serving as the Chairman of the Board Risk and Investment Committee, and as a member of the Board Nominations and Governance Committee. He is also the Chairman of Tangerine Financial (U.K.), the holding company for a financial services group providing insurance and pensions solutions across the continent. Mr Emuwa is thus well positioned to oversee and guide AFC on its future strategy and growth aspirations.



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