Business and Economy

Former Union Bank CEO, Emeka Emuwa, becomes Chairman of Africa Finance Corporation

Africa Finance Corporation,, the leading infrastructure solutions provider in Africa, is pleased to announce the appointment of Mr. Emeka Emuwa as the Chairman of its Board of Directors. With over three decades of experience in leading and transforming banking institutions across Africa, Mr. Emuwa brings a wealth of knowledge to his new role.

Having completed a successful 25-year career with Citibank, where he served as the Country Officer and Managing Director in Nigeria, Mr. Emuwa went on to become the Group Managing Director and Chief Executive Officer of Union Bank of Nigeria. During his tenure, he played a pivotal role in the bank’s transformation and worked closely with new shareholders to restore its position as a reputable provider of financial services.

Mr. Emuwa’s extensive experience and dedication to the advancement of Africa make him a valuable asset to As the Corporation expands its operations across the continent and establishes international collaborations, his leadership will be instrumental in guiding its future strategy and growth aspirations.

Since 2015, Mr. Emuwa has been a member of’s Board, previously serving as the Chairman of the Board Risk and Investment Committee, as well as a member of the Board Nominations and Governance Committee. Additionally, he holds the position of Chairman at Tangerine Financial (U.K.), a holding company for a financial services group that provides insurance and pensions solutions across Africa.’s mission to accelerate development impact, foster industrialization, and enhance value capture and retention is crucial for the prosperity and development of Africa. With Mr. Emuwa at the helm, the Corporation is well-positioned to achieve its goals and contribute to the continent’s growth.

Samaila Zubairu, President & CEO of AFC, expressed his thoughts on the appointment of Mr. Emuwa, stating that his extensive experience, insightful perspectives, and unwavering commitment to Africa’s development perfectly align with AFC’s mission. With Mr. Emuwa’s continued guidance, AFC is confident in making substantial progress in transforming the continent. Mr. Emuwa possesses a profound understanding of Africa’s financial landscape within a global context and has a clear vision for enabling AFC to further enhance its impact.

In response to his appointment, Mr. Emuwa expressed his deep honor and gratitude. He acknowledged AFC as the leading infrastructure investor in Africa, having delivered transformative projects across crucial sectors of the economy over the past 16 years. Mr. Emuwa eagerly looks forward to working closely with the board, management, and all stakeholders to advance AFC’s mission and strengthen its role as a driving force for economic growth and infrastructure development in Africa.

AFC, in collaboration with its partners, has become the largest investor in renewable energy in Africa. This achievement follows its recent acquisition of Lekela Power and its leadership in major wind power projects, including those in Djibouti. Through its investee company ARISE IIP, AFC is actively involved in the development of special economic zones, contributing to the diversification of the economies of nine countries and establishing a global manufacturing powerhouse. AFC’s appointment as the lead developer of the Lobito Corridor and Zambia-Lobito Rail Line has brought together esteemed partners such as the US government, the European Union, the African Development Bank, and the governments of Angola, the Democratic Republic of Congo, and Zambia.

With an A3 rating from Moody’s, AFC has successfully raised and mobilized significant amounts of capital from global markets and investors. This capital works in conjunction with African domestic capital to develop the industrial and infrastructure base of the African continent.

Leave a Reply