Banji Fehintola

Africa Finance Corporation (AFC), a prominent infrastructure solutions provider in Africa, has announced the appointment of Banji Fehintola as its new Executive Director of Financial Services, effective August 1. Mr. Fehintola possesses substantial financial expertise and leadership experience, which will be instrumental in driving AFC's strategic initiatives to bolster its financial standing and propel the corporation's growth trajectory..

Banji succeeds Mr. Sanjeev Gupta, who will complete his final term with AFC in October of this year, following nine years of exceptional service to the Corporation. During Mr. Gupta's leadership, AFC's Financial Services division established robust Financial Advisory and Debt Syndication teams to provide structuring and distribution solutions for the market, achieving numerous successful milestones for their clients and the Corporation. These include a fivefold expansion in borrowings from US$1.6 billion to over US$8 billion, remarkable growth of treasury assets from US$1.47 billion to US$ 5.29 billion, raising new equity capital of approximately US$ 1 billion, diversifying its shareholder base, and a significant increase of AFC's country membership from 13 to 43 member countries; successfully solidifying AFC's position in the market as a truly pan-African institution.

Banji possesses over two decades of substantial experience in global markets, financial services, and infrastructure finance across Africa. He brings a wealth of expertise to his new role at AFC. Joining the Corporation in 2008, he steadily rose through the ranks to become AFC's pioneering Treasurer. His adept leadership of the funding team was instrumental in securing the Corporation's investment-grade credit rating and raising over US$ 12 billion in funding for AFC through diverse funding sources. Mr. Banji's strategic vision, innovation, and financial acumen propelled AFC's Treasury team to global recognition, garnering prestigious awards such as "Best Supranational Treasury & Funding Team of the Year" and recognition for several landmark transactions..

In his new role as Executive Director, Financial Services, Banji will be responsible for overseeing several functions, including Treasury & Financial Institutions, Financial Advisory, Syndications, and the newly established Capital Mobilization & Partnerships. His appointment is pivotal in reinforcing AFC's unwavering commitment to developing practical solutions for infrastructure projects that enhance local value capture and stimulate industrialization.

Samaila Zubairu, President and CEO of AFC, expressed profound gratitude for Sanjeev's nine years of dedicated service to AFC and his substantial contributions in supporting the Corporation's growth and impact on the African continent and beyond. Concurrently, we are delighted to welcome Banji as our new Executive Director, Financial Services. His extensive knowledge of the global financial landscape, combined with his proven track record and institutional history with AFC, makes him a valuable addition to our Board and executive team. We eagerly anticipate leveraging his capabilities to build upon our success."

Sanjeev commented: "It has been an absolute privilege to serve at Africa Finance Corporation for the past nine years. Our accomplishments together have been most satisfying for me and I am confident that with the appointment of Banji Fehintola, AFC is well-positioned for continued success. I wish Banji the best as he takes on this role and contributes his expertise to furthering AFC's mission in Africa."

Banji possesses extensive experience in the financial sector, having held prominent leadership positions in renowned multinational financial institutions. Prior to joining AFC, he held a position at Citibank Nigeria within the Fixed Income, Currencies, and Commodities team. He also worked at the former Arthur Andersen in the Tax and Business Advisory Division. Mr. Banji is a distinguished alumnus of Harvard Business School and holds a first-class degree in Economics. Additionally, he has obtained Master's degrees in International Finance and International Business. He is a Chartered Accountant and a CFA Charter holder. Mr. Banji serves on the Boards of several companies, including the Board of Governors of the CFA Institute.

"I am very honoured to take on this new role at AFC, an institution that is very dear to my heart and at which I have spent the largest part of my career. By playing a critical role in shaping the future of Africa's infrastructure landscape, AFC’s mission connects directly with my personal purpose and passion,“ Banji said. “I look forward to building on the strong foundation that Sanjeev has laid and working with the executive management team and the Board to accelerate development impact for Africa."