AFC Continues to Power Africa out of Poverty

17th May 2017

I was on the Founders’ panel yesterday at the Africa Finance Corporation infrastructure summit with fellow co-founders Charles Soludo & former President Olusegun Obasanjo.

Ten years ago, we had a dream to build Africa’s version of the World Bank’s IFC. To sit on the panel yesterday with the founding AFC team, as we discussed how far this dream has come, was equal parts humbling and emotional.

Through AFC, Africa is being transformed one infrastructure project at a time. AFC continues to finance ports development, railway construction and transport expansion across the continent. AFC also invests in Power to power Africa out of poverty.

I commend the management and CEO Andrew Alli who have continued to deliver on the AFC promise. We have seen great seeds planted, but how you nurture the seed to germination is as important as its sowing.

Finally, in my capacity as Chairman of United Bank for Africa – the biggest investor in AFC after CBN – I am proud of AFC and my hopes for the organization are:

1) AFC grows to attract even more much-needed capital to Africa;
2) They begin to engage African governments to create the right environment for such capital to have the right impact.