Nnanna succeeds Alade as AFC Chairman

Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, has announced Dr Joseph Nnanna, a Deputy Governor at the Central Bank of Nigeria (CBN), as its new Chairman.

Nnanna’s appointment follows the retirement of Dr Sarah Alade, from the CBN on March 22, and also stepped down from her position as Chairman of the AFC Board of Directors.
Nnanna has over 30 years experience as an economist and banker.

He has served as a consultant to the Nigerian Government on the United Nations Conference on Trade and Development, UNCTAD, and on the Board of the International Monetary Fund, IMF.

Speaking on her retirement, Alade said: “It has been a privilege to serve as Chairman of such a dynamic and fast-growing organisation. I have had the pleasure of overseeing some of the company’s milestones, including the Company’s inaugural Eurobond, Swiss Franc (CHF) and Sukuk issuances, expansion of country membership from 9 to 14, expansion of the Corporation’s operational footprint to 28 countries, growth in the balance sheet to US$3.4 billion, and, the creation of the African Power Platform vehicle with Harith General Partners of South Africa. I have no doubt that the Corporation will continue to flourish under my successor and wish both him and AFC the best in the future.”