AFC Appoints Fola Fagbule to Lead East and Central Africa Operations

Fagbule joined AFC in 2009 and has been leading the corporation's financial advisory business since 2017.

Africa Finance Corporation (AFC) has appointed Fola Fagbule as Director and Head of its Regional Office in Nairobi, reinforcing the institution's commitment to expanding infrastructure investment and economic development across East and Central Africa. In his new role, Fagbule will oversee AFC's operations across East and Central Africa, where the corporation is increasing its focus on infrastructure development, industrialisation, energy security, digital connectivity and regional integration.

AFC President and Chief Executive Officer Samaila Zubairu said the appointment reflects the growing strategic importance of the region and the corporation's commitment to developing leadership from within its own ranks. He described Fagbule's extensive experience in infrastructure finance and investment as well suited to expanding AFC's presence and partnerships across the region.

Veteran infrastructure financier takes on expanded role

Fagbule joined AFC in 2009 and has been leading the corporation's financial advisory business since 2017. During that time, he has helped originate, structure and execute transactions worth more than US$12 billion, supporting major infrastructure, industrial and natural resource projects across Africa.

His experience spans sectors including power, transport, telecommunications, mining, oil and gas, heavy industry, technology and financial services. He has also advised governments, development finance institutions, sovereign wealth funds, pension funds and corporate clients on complex investment transactions.

As head of the Nairobi office, he will lead efforts to develop new investment opportunities, strengthen partnerships with governments and financial institutions, expand AFC's project pipeline and mobilise long-term capital for strategic infrastructure projects.

Focus on accelerating infrastructure growth

The appointment comes as AFC increases its activities in East and Central Africa through investments and strategic partnerships. These include its recent equity investment in Dhamana Guarantee Company, its role in supporting the expansion of the Dangote Group's fertiliser and refining operations in the region, and its backing for the proposed expansion of Jomo Kenyatta International Airport.

Before joining AFC, Fagbule worked in investment research and corporate finance. He holds a Bachelor of Science degree in Physics, an MBA and has completed executive education programmes at Harvard Business School and Stanford University. Commenting on his appointment, Fagbule said he was honoured to take on the responsibility at a time when East and Central Africa offer significant opportunities for transformative infrastructure investment and long-term economic growth.