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Samaila Zubairu: Driving Africa’s Infrastructure Revolution as AFC CEO

Samaila Zubairu: Driving Africa’s Infrastructure Revolution as AFC CEO

Updated: July 5, 2025

Samaila Zubairu, a seasoned Nigerian financier, has been at the helm of the Africa Finance Corporation (AFC) since July 2018. Under his leadership, the Cayman Islands–style development bank has emerged as a leading financier for infrastructure across Africa.

Samaila Zubairu
Samaila Zubairu

📈 Strategic Growth Under Zubairu

When Zubairu took charge in 2018, AFC’s assets totaled approximately US$4.1 billion. By 2022, this had grown to around US$10.6 billion, with net income nearly doubling—from US$118 million to US$214 million—even amid global volatility :contentReference[oaicite:2]{index=2}.

  • Five‑year strategy pillars: energy access, natural resources, transport/logistics, heavy industry, telecom/tech
  • Improved credit profile: proactive risk management and diversified funding
  • Stronger team & culture: focus on performance, African leadership and ecosystem-based approach

🌍 Pan‑African Expansion & Membership

Founded in 2007 with 25 member states, AFC has grown its membership to 45 by mid‑2025, under Zubairu’s leadership . This expansion marks its evolution into a truly pan‑African institution.

Notably, Angola—after joining as a member in 2022—recently became a sovereign shareholder, committing US$184.8 million on June 25, 2025

AFC CEO Zubairu commented that this investment “marks a significant step in AFC’s journey to broaden shareholder representation across Africa”, citing Angola’s aim to align national infrastructure ambitions with AFC’s delivery model

🏗️ Infrastructure Focus & Flagship Projects

AFC’s infrastructure portfolio (exceeding US$11.5–15 billion by 2022) spans energy, transport, resources, telecoms, and heavy industry :contentReference[oaicite:9]{index=9}.

  • Lobito Corridor: A flagship rail corridor linking Angola, Zambia & DRC, designed to boost regional trade and reduce logistics costs
  • Power & Renewables: Investments across hydroelectric, IPPs, and transmission in Ghana, Mozambique, Nigeria
  • Telecommunications: Supporting undersea fiber (e.g. Main One) to enhance internet connectivity in West Africa
  • Transport & logistics: Funding roads, bridges, toll roads, and port expansion (Abidjan, Ghana, South Africa)
  • Natural resources & industry: Deals in oil, mining, cement, and industrial hubs, often in collaboration with Dangote and partners

🤝 Leveraging Expertise & Partnerships

Before joining AFC, Zubairu held senior finance roles, including CFO at Dangote Cement Plc and Treasurer of Dangote Group, as well as CEO at Africapital Management. He was instrumental in structuring deals worth over US$3 billion

He is a Fellow of the Institute of Chartered Accountants of Nigeria, an Eisenhower Fellow and sits on the Eisenhower Fellowship board

📆 Recent Strategic Developments

  • Angola shareholder entry: Coordinated by Minister Vera Daves de Sousa, reinforcing diversification strategy
  • €250 million loan facility: Secured in June 2025 from Italy’s CDP/SACE to fund infrastructure and renewable projects via AFC
  • $1 billion+ revenue: AFC crossed this revenue milestone in early 2025

🔍 Regional & Global Impact

Zubairu’s leadership has accelerated AFC’s role as a catalyst in energy access, connectivity, and transport infrastructure across Africa. Investors increasingly regard AFC as a credible platform combining public-private partnership with African ownership

The growing sovereign investor base—from Lusophone Angola to Cape Verde—underscores AFC’s broad continental reach and legitimacy

📈 Looking Ahead: Africa’s Infrastructure Future

With Zubairu at the helm, AFC is expected to:

  • Expand shareholder representation across more countries.
  • Mobilize domestic savings (over US$4 trillion) into national infrastructure
  • Scale key projects—renewables, transport, telecom—as part of Africa’s development agenda.
  • Leverage global partnerships while safeguarding African ownership and decision‑making.

This post by africaintelligence.com

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