Africa Finance Corporation (AFC), the continent’s leading instrumental infrastructure solutions provider, today announced the appointment of Mrs Ireti Samuel-Ogbu as Chair of its Board of Directors. She succeeds Mr. Emeka Emuwa who has completed 12 years of meritorious service to the Corporation.
Mrs. Samuel-Ogbu brings a wealth of experience spread over three decades leading and transforming the banking sector in Europe, Middle East, and Africa. Until recently, she led Citi’s institutional businesses in Nigeria and Ghana, with oversight across Banking, Markets and Services. During this period, she steered the franchise through significant macroeconomic and regulatory headwinds, strengthening its strategic momentum and resilience.
Her international career within Citibank included senior leadership roles across over 50 countries in the Europe, Middle East, and Africa region, during which time she worked in the United Kingdom, Nigeria, and South Africa.
Mrs. Samuel-Ogbu has extensive boardroom experience including Citibank Nigeria where she was a Non-Executive Director for 6 years and Chair of the Risk Committee prior to becoming the Managing Director. She also served on the board of CHAPS Clearing UK, the high value payment system now operated by the Bank of England and a UK-based charity, Opportunity International. Her extensive experience and unwavering dedication to the advancement of Africa make her a valuable asset to AFC at a time when the Corporation is more committed than ever to accelerating Africa’s transformation through bold investments, innovative financing models and catalytic partnerships.
AFC recently delivered a record-breaking FY2024 financial performance, with total revenue increasing by 22.8% to US$1.1 billion, surpassing the US$1 billion milestone for the first time. This strong performance was driven by several transformational projects including acting as the Lead Project Developer for the Lobito Corridor, a transformative multi-country transport network connecting Angola, Zambia and the Democratic Republic of Congo (DRC), financing of the expansion of the Kamoa-Kakula Copper Complex in the DRC — one of the world’s highest-grade, low-carbon underground copper mines and financing support for the commissioning of the Dangote Refinery, the largest in Africa.
Speaking on the appointment, Samaila Zubairu, President & CEO of AFC, said: ” We are delighted to welcome Mrs Ireti Samuel-Ogbu as Chair of the Board. Her wealth of experience, visionary leadership and deep understanding of Africa’s financial landscape will be invaluable as we navigate our next phase of growth- expanding our impact, mobilising urgently needed capital and delivering transformative projects that enable inclusive and sustainable prosperity across the continent.”
Mrs Ireti Samuel-Ogbu commented: “I am honoured to take on the role of Chair at AFC, an institution that serves as a trusted bridge between international capital and Africa’s dynamic growth opportunities. I look forward to working closely with the board, management, and all stakeholders to advance the Corporation’s mission and strengthen its role as the leading provider of strategic, investment-driven solutions that unlock Africa’s full economic potential.”
Africa Fact: One of the government positions in mediaeval Kanem-Borno was Astronomer Royal.
Fast Draw
Wendy Luhabe\’s first step into entrepreneurship came in 1991 when she launched Bridging the Gap, a consulting firm that assists young black South Africans entering the working world. In 1993, she launched Women Investment Portfolio Holdings, the first fund to provide capital to women-owned businesses in South Africa. In 2002, she launched Africa\’s first Women-Focused Private Equity Fund. She also published her first book entitled: Defining Moments: Experiences of Black Executives in South Africa\’s Workplace. Luhabe launched her Foundation in 2002, to educate young disadvantaged black women, particularly from rural areas. In 2011, Luhabe was asked by Hillary Clinton to join the International Council on Women\’s Business Leadership (ICWBL). In 2014, she was appointed Member of the Board at The Abraaj Group, a global investment firm. In 2014, she was awarded Woman of Worth from the Jewish Achievers Awards in South Africa. In 2014, she was awarded the Lieutenant of the Victorian Order (LVO) by the British Royal Family. In 2015, she was awarded Lifetime Achievement Award at the Standard Bank Top Women Awards.