The Africa Finance Corporation (AFC), a leading provider of infrastructure solutions across Africa, has appointed the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, as Chairman of its Board of Directors.

Cardoso succeeds Ireti Samuel-Ogbu, who served as chairman during her tenure and will continue to serve on the corporation’s board as a member.

The appointment places the CBN governor at the helm of the board of the pan-African institution, which focuses on financing and developing infrastructure projects to support economic growth and sustainable development across the continent.

AFC acknowledged Samuel-Ogbu’s contributions during her tenure, commending her service to the corporation.

Cardoso’s appointment comes amid ongoing efforts to strengthen infrastructure development and mobilise investment to address Africa’s financing needs.

The corporation is a key player in financing infrastructure projects across strategic sectors, including power, transport, natural resources and telecommunications, with the aim of improving connectivity, supporting industrialisation and accelerating economic development across Africa.