Addis Ababa, February 17, 2025 – Samaila Zubairu, President and CEO of the Africa Finance Corporation (AFC), has been appointed Chairperson of the Alliance of African Multilateral Financial Institutions (AAMFI), succeeding Afreximbank’s Prof. Benedict Oramah. The transition was confirmed on February 16, 2025, during the AAMFI Governing Council’s fifth meeting, held alongside the 38th African Union Summit. Dr. Corneille Karekezi of Africa Re and Mr. Manuel Moses of ATIDI were named first and second Vice Chairpersons, respectively.
AAMFI, launched in 2024, unites ten African financial institutions to foster sustainable growth and financial independence. Under Oramah’s tenure, the alliance expanded from seven to ten members, adding the Fund for Export Development in Africa, African Solidarity Fund, and East African Development Bank. His leadership secured AU endorsement and elevated AAMFI’s role in global development finance discussions.
Oramah said, “I want to thank the leadership of AAMFI for entrusting me with this mandate. Looking back at what we have achieved, I am reminded of the immense potential and responsibility that lies ahead. AAMFI has laid a strong foundation for Africa’s financial sovereignty, but there is still much more to be done. I am confident that under the leadership of Mr. Samaila Zubairu, the Africa will continue to drive impactful collaborations and innovative financial solutions to accelerate Africa’s economic transformation.”
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Zubairu, who has led AFC since 2018, assumes the role with a focus on industrialization, infrastructure, and capital market development. His agenda emphasizes youth empowerment through financial literacy and pension reforms, alongside cross-border capital mobilization and early warning systems to bolster economic resilience.
Accepting the chairmanship, he stated, “I am deeply honored to assume the chairmanship of AAMFI at this pivotal moment for Africa’s economic transformation. Our collective mission is clear—to build a robust financial architecture that captures and retains value within the continent, mobilizes African capital for African priorities, and accelerates the infrastructure development that enables industrialization. By fostering deeper intra-African collaboration, and strengthening our institutions, we will unlock opportunities that create high-quality jobs, drive innovation, and secure our long-term economic resilience. I look forward to working with my esteemed colleagues to chart a path toward true financial sovereignty and sustainable prosperity for Africa.”
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Under Zubairu, AFC has doubled its invested assets to $15 billion and grown membership from 18 to 44 countries, covering 80% of Africa. Key projects include the Lobito Corridor rail initiative, the continent’s largest, and renewable energy ventures like Lekela Power, Red Sea Power, and Xlinks, which will export Sahara-generated electricity to Europe. His track record positions him to steer AAMFI toward greater intra-African collaboration and global advocacy. Members praised Oramah’s foundational work and pledged support for Zubairu’s term, which promises to prioritize job creation and infrastructure to drive Africa’s economic ascent.
