Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, announces that Mr Tony Elumelu, non-executive director, has decided to retire from the AFC Board, after 9 years of meritorious service. He was a founding director and the first Chairman of the Corporation’s Risk and Investment Committee, which he chaired for 9 years.
Mr Elumelu, Chairman of Heirs Holdings, represented United Bank for Africa Plc (UBA). He is succeeded by Mr Victor Osadolor, Deputy Managing Director of UBA.
Dr Sarah Alade, Chairman of AFC, said “I am grateful for the notable contribution Mr Elumelu has made throughout the nine years he has served on the Board of AFC. I would like to thank him for his expertise and judgement, and for pioneering and chairing the Board Risk Investment Committee. Mr Elumelu’s contribution has helped AFC to build our portfolio of investments that are supporting African economies to grow and diversify.”