Africa Finance Corporation Appoints Ireti Samuel-Ogbu as New Chair of the Board of Directors

Africa Finance Corporation (AFC) has named Mrs. Ireti Samuel-Ogbu as the new Chair of its Board of Directors, succeeding Mr. Emeka Emuwa, who completed 12 years of dedicated service to the Corporation.

With over 30 years of experience in the banking sector across Europe, the Middle East, and Africa, Mrs. Samuel-Ogbu brings a wealth of expertise to her new role. Most recently, she led Citi’s institutional businesses in Nigeria and Ghana, overseeing Banking, Markets, and Services. She navigated significant macroeconomic and regulatory challenges, bolstering the franchise's strategic resilience.

Her distinguished international career at Citibank spans senior leadership roles across more than 50 countries in the EMEA region, with postings in the United Kingdom, Nigeria, and South Africa.

Mrs. Samuel-Ogbu’s extensive boardroom experience includes serving as a Non-Executive Director for Citibank Nigeria for six years, where she chaired the Risk Committee before becoming Managing Director. She has also contributed to boards such as CHAPS Clearing UK, now operated by the Bank of England, and the UK-based charity, Opportunity International.

Her vast experience and unwavering commitment to Africa’s progress make her a tremendous asset to AFC, particularly as the Corporation intensifies its mission to drive Africa’s transformation through strategic investments, innovative financing models, and impactful partnerships.

AFC recently achieved a record-breaking financial performance for FY2024, with revenue soaring by 22.8% to US$1.1 billion, surpassing the US$1 billion milestone for the first time. This success was fueled by transformative projects, including the Lobito Corridor, a multi-country transport network connecting Angola, Zambia, and the Democratic Republic of Congo (DRC), as well as significant investments in the Kamoa-Kakula Copper Complex and the Dangote Refinery.

Samaila Zubairu, President & CEO of AFC, expressed his enthusiasm about the appointment, stating: “We are thrilled to welcome Mrs. Ireti Samuel-Ogbu as Chair of the Board. Her extensive experience, visionary leadership, and deep understanding of Africa’s financial landscape will be essential as we continue to expand our impact and deliver transformative projects that promote inclusive and sustainable prosperity across the continent.”

In response to her appointment, Mrs. Samuel-Ogbu said: “I am honoured to assume the role of Chair at AFC, an institution that bridges international capital with Africa’s exciting growth prospects. I look forward to collaborating with the board, management, and all stakeholders to further AFC’s mission and reinforce its position as the leading provider of strategic, investment-driven solutions that unlock Africa’s full economic potential.”