EMEA Champion Awards 2017: AFC President Andrew Alli wins awards
Africa Finance Corporation (AFC) President, Andrew Alli just recently received the Champion of Finance Award, for his outstanding achievement in, and lifetime contribution to, the field of Finance, and for relentless contributions to the sustainable development of Africa’s infrastructure.
Andrew Alli, who has served as Africa Finance Corporation’s President and CEO since 2008, was awarded the Champion of Finance Award by London-based publisher, EMEA Finance.
Andrew Alli and the transformation of the continent
Alli’s leadership has been demonstrated through projects that have transformed the continent, particularly in countries that traditional investors have typically shied away from.
Alli has previously worked for organisations such as the International Finance Corporation (IFC), and PricewaterhouseCoopers (PwC), that have used financial innovation and expertise to contribute to the development of Africa.
“Under Alli’s leadership, AFC has, over the last ten years, evolved from a US$1 billion start-up into an institution that is a powerful force on the continent with a balance sheet of US$4.2 billion. It currently has a membership of 20 countries, an A3 Credit rating by Moody’s Investor Services, making it the second highest rated African lending institution.”
The group has also invested in various capacities in a number of landmark African projects:
- “a 1,786 megawatt (MW) power joint venture with Harith General Partners – Anergi Holdings, which provides electricity to 30 million people across five countries in Africa.”
- “the AFC was also instrumental in a $205 million project to develop Alufer Mining’s Guinea-Conakry high grade bauxite reserves, the largest investment of its kind to take place in the country following the 2014 Ebola crisis that brought the country’s economy to a standstill.”
- “AFC helped develop the $240million Main One Cable Company, which provides innovative telecommunications services, network solutions and wholesale Internet services for people and businesses in West Africa. Main One provides direct connectivity to over 10 million users, with several more millions benefitting indirectly.”
“AFC’s Chief Investment Officer Oliver Andrews was also recognized as a Champion of Finance at EMEA Finance’s Project Finance Awards 2017.”
Africa Finance Corporation
AFC is an investment grade multilateral finance institution that was established in 2007 with an equity capital base of $1 billion, to be the catalyst for private sector-led infrastructure investment across Africa. With a current balance sheet size of approximately $3.5 billion, AFC is the second highest investment grade rated multilateral financial institution in Africa.
The AFC has set out to bridge the infrastructure investment gap, and its negative impact on the growth and social development of African economies.
Sources: Footprint2africa & AFC
