ADM Energy, a natural resources investing company with an existing asset base in Nigeria, announced the appointment of Oliver Andrews to the Board as Non-executive Chairman with effective 2 August 2021. Andrews will take up the position from Peter Francis, who is stepping down as Non-executive Chairman for personal circumstances, effective from the same date.
Andrews has over 35 years’ experience in infrastructure development, investing, public-private partnerships and strategic advisory work such as advising and partnering with governments, regional and international corporations and development finance institutions. During his career, in differing senior roles, he has overseen the investment of approximately $10 billion and originated $100 billion of investments in natural resources and infrastructure deals across the African continent on behalf of investee institutions.
He was formerly Executive Director and Chief Investment Officer at the Africa Finance Corporation (AFC), one of the biggest investors in natural resources and infrastructure solutions in Africa, where he oversaw the growth of assets under management from $1 billion to over $8.4 billion including significant investments in the oil and gas sector.
Osamede Okhomina, CEO of ADM Energy, said: “I am delighted to welcome Oliver as the new Chairman of ADM Energy. Oliver is a prominent figure in the African natural resources scene having run one of the continent’s largest investment funds as Chief Investment Officer and overseen the development of several landmark projects. His extensive experience in originating and evaluating transactions, as well as financing and developing projects, will provide invaluable insight. I look forward to Oliver’s guidance as he supports our strategy to unlock the upside from our asset base while seeking attractive new opportunities. On behalf of all at ADM, I would like to thank Peter for his outstanding dedication and contribution to the company throughout his tenure and wish him the very best for the future.”
Commenting on his appointment as Non-executive Chairman, Oliver Andrews said: “This is a period of significant change in the natural resources sector, but also one of unprecedented opportunity. For agile, well-connected companies like ADM, it is possible to acquire reserves and develop sustainable projects at low cost with attractive risk-reward profiles. I am delighted to take up the role of Chairman and intend to work closely with Osa and the team to deliver on the company’s ambitious growth strategy – both by progressing ADM’s existing projects and further expanding its portfolio. I am excited to assist with my experience and network across Africa as we focus on building ADM for the benefit of all our shareholders.”