Chairman, United Bank for Africa Plc, Tony O. Elumelu, has hailed the
African Finance Corporation on its various initiatives and contributions
targeted towards supporting African economies in the last few years
noting that these initiatives have gone a long way in fostering growth and
diversity on the continent.
Elumelu , who gave this commendation during the AFC’s 10th Anniversary
celebrations of the corporation in Abuja, Nigeria this week, was also
full of praises for the corporate governance culture exhibited and
practiced by the AFC, adding that its impact has been felt not only in
Africa, but by the world over.
The UBA Group chairman who was honoured and recognised at the event as a
long serving board member of the AFC, said, “As a pioneer chairman of Risk
and governance at the AFC, I interacted closely with management and the
AFC has world class leadership and management. We have seen great seeds
planted. This is indeed an African institution domiciled in Nigeria with
world class standards’ he said as he referred to the Triple A rating of
Having served on the board of AFC for 9 years, he shared his vision and
hopes for the corporation in the next 10 years as he sat on a panel
titled The foundation for growth, alongside the former Nigerian President
Olusegun Obasanjo and the Former Central Bank governor of Nigeria,
Professor Chuwuma Soludo. ‘The commodity crisis has demonstrated that we
need to attract more capital to Africa and I would like to see the AFC
mobilizing much needed capital to the continent as we engage with our
political leaders to create the enabling environment for growth and
development’ Elumelu said.
Acting Nigerian President, Prof Yemi Osinbajo, who had earlier opened the
AFC’s summit on Infrastructure revolution, commended Obasanjo, for his
clear vision in conceiving the idea of an African Development Finance
Institution that would be birthed on the continent; “the idea of
developing a wholly African Finance Institution that was the will of
African leaders, nations and institutions, seemed far – fetched a decade
ago’ he said. He expressed pride that Africa was on the right path. ‘This
coming decade is Africa’s time’ he stated, saying that the world would be
seeing real development on the continent in the next few years.
Other African leaders who were in attendance at the summit include the
Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele; Ghana’s
Minister of Finance, Ken Ofori-Atta; Nigeria’s Minister of Finance, Kemi
Adeosun; Uganda’s Minister of Planning and Economic Development, Hon
Kasija Matia; Gambian Minister of Trade, Isatou Touray; Nigeria’s former
Minister of Education, Oby Ezekwesili and many others.