The Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has appointed Fola Fagbule as Director and Head of its Regional Office in Nairobi, marking a significant step in the Corporation’s strategy to expand its presence across East and Central Africa.
According to a statement, in his new role, Fagbule will lead AFC’s activities across the region.
The statement explained that the AFC was deepening engagement in a region expected to play an increasingly vital role in advancing infrastructure development, industrialisation, energy security, digital connectivity, regional integration and capital mobilisation across the continent.
Fagbule joined AFC as an Associate in 2009 and has played a significant role in the Corporation’s evolution into Africa’s leading infrastructure solutions provider. He has led the provision of financial advisory services at AFC since 2017 – originating, structuring and executing transactions valued at more than US$12 billion, including roles on some of the most transformative natural resources, infrastructure, and industrial projects accomplished by AFC and its strategic clients over this period.
His investments and project finance experience spans power, transport, telecommunications, oil and gas, mining, heavy industry, technology, and financial services. He has advised governments, sovereign wealth funds, development finance institutions, pension funds, financial institutions, infrastructure sponsors and corporate clients on various complex transactions.
Reflecting his longstanding interest in historical, political and economic forces that shape African development, Fagbule is the co-author of ‘Formation: The Making of Nigeria from Jihad to Amalgamation (2020).’
Commenting on the appointment, President and Chief Executive Officer of AFC, Samaila Zubairu said:
“East and Central Africa is home to some of the continent’s most compelling opportunities for economic transformation through infrastructure development, industrialisation, and domestic capital mobilisation. This appointment reflects both the strategic importance of the region to AFC’s future growth and our longstanding commitment to developing leaders from within the Corporation. Fola’s experience, judgment and deep understanding of AFC and Africa’s investment landscape make him exceptionally well positioned to lead our regional platform and expand our engagement across the region.”
As Director and Head of the Regional Office, Fagbule would be responsible for leading AFC’s efforts to originate and develop investment opportunities, deepen strategic partnerships and strengthen relationships with governments, development partners, institutional investors, financial institutions and corporate clients across the region. He will also oversee efforts to expand AFC’s investment pipeline, enhance project development activities, and accelerate the mobilisation of long-term capital into strategic infrastructure and industrial assets.
He would be responsible for leading AFC’s scaling up of its operations in the region, following on its recently announced equity investment in the Dhamana Guarantee Company, its strategic role in the expansion of the Dangote Group’s fertilizer and refining operations within the region, and its support for the proposed expansion of the Jomo Kenyatta International Airport.
Prior to joining AFC, Fagbule worked in investment research and corporate finance. He holds a Bachelor of Science degree in Physics and a Masters in Business Administration and has completed executive education programmes at Harvard Business School and Stanford University.
Commenting on his appointment, Fagbule said: “It is a great privilege to be given this responsibility at such an important moment for AFC and the region. East and Central Africa offer some of the most exciting opportunities for transformational impact across AFC’s sectors of focus. I am excited to build on our strong foundations in the region – working alongside colleagues, friends and partners to accomplish meaningful projects, unlock major investments and deliver lasting economic impact for Africa.”
The AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
