Africa Finance Corporation Appoints Banji Fehintola as Executive Director, Financial Services
2024-07-08
Unlocking Africa's Infrastructure Potential: AFC Appoints Banji Fehintola to Drive Strategic Growth
Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has appointed Banji Fehintola as its new Executive Director of Financial Services, effective August 1. Fehintola's extensive financial expertise and leadership experience will be instrumental in strengthening AFC's financial position and accelerating the Corporation's growth trajectory across the continent.
Banji Fehintola succeeds Sanjeev Gupta, who completes his final term with AFC in October after nine years of exceptional service to the Corporation. Under Gupta's leadership, AFC's Financial Services division developed robust Financial Advisory and Debt Syndication teams, enabling the Corporation to provide innovative structuring and distribution solutions for the market. This resulted in numerous successful milestones, including a fivefold expansion in borrowings from US.6 billion to over US billion, remarkable growth of treasury assets from US.47 billion to US$ 5.29 billion, and the raising of approximately US$ 1 billion in new equity capital. Additionally, Gupta's tenure saw a diversification of AFC's shareholder base and a significant increase in the number of member countries from 13 to 43, solidifying AFC's position as a truly pan-African institution.
Banji Fehintola: A Seasoned Financial Strategist
Banji Fehintola brings over two decades of extensive experience in global markets, financial services, and infrastructure finance across Africa to his new role at AFC. Joining the Corporation in 2008, Fehintola rose through the ranks to become AFC's pioneer Treasurer, where his leadership of the funding team was instrumental in securing the Corporation's investment-grade credit rating and raising over US$ 12 billion in funding through diverse sources. Fehintola's strategic vision, innovation, and financial acumen have propelled AFC's Treasury team to global recognition, earning awards such as "Best Supranational Treasury & Funding Team of the Year" and recognition for several landmark transactions.
Strengthening AFC's Financial Capabilities
In his new position as Executive Director, Financial Services, Fehintola will oversee several key functions, including Treasury & Financial Institutions, Financial Advisory, Syndications, and the newly created Capital Mobilization & Partnerships. His appointment will play a pivotal role in strengthening AFC's unwavering commitment to unlocking pragmatic solutions for infrastructure projects that enhance local value capture and spur industrialization across Africa.
Driving Sustainable Development and Growth
Samaila Zubairu, President and CEO of AFC, expressed the Corporation's gratitude for Sanjeev Gupta's dedicated service and significant contributions to AFC's growth and impact on the African continent. Zubairu also welcomed Banji Fehintola, stating that his deep understanding of the global financial landscape, coupled with his strong track record and institutional history with AFC, make him a valuable addition to the Board and executive team. The Corporation looks forward to leveraging Fehintola's capabilities to build on its past successes and further its mission in Africa.
Banji Fehintola's Commitment to AFC's Vision
Banji Fehintola expressed his honor in taking on this new role at AFC, an institution that is deeply personal to him and where he has spent the majority of his career. Fehintola's personal purpose and passion align directly with AFC's mission of shaping the future of Africa's infrastructure landscape. He looks forward to building on the strong foundation laid by Sanjeev Gupta and working with the executive management team and the Board to accelerate the Corporation's development impact across the African continent.
