I’m Leaving Behind A Formidable, Profitable AFC, Says Andrew Alli
After almost 10 years of pioneering the Africa Finance Corporation (AFC) dream of enhancing economic development of nations on the continent, Andrew Alli, its President and Chief Executive Officer, is billed to bow out this year. In his final new year message on Friday, he said that over the years, the corporation, established by the then Prof. Chukwuma Soludo Central Bank of Nigeria (CBN) in 2007, with current a balance sheet size of about US$3.5bn, “has evolved from a start-up to an institution that is a powerful force on the continent; it currently has a membership of 17 countries, an A3 Credit Rating by Moody’s (the second highest rated African lending institution), and has grown from about US$1bn in total assets to about US$4bn, while investing in various capacities in the landmark African projects. These include: “the US$240m MainOne Cable Company which provides innovative telecommunications services, network solutions and wholesale internet services for people and busine...