Africa Finance Corporation, one of the biggest investors in infrastructure solutions in Africa, has announced the appointment of Sameh Shenouda as its new Executive Director and Chief Investment Officer. 

Sameh Shenouda brings over 27 years of experience in investments and fundraising in international capital markets, with a focus on infrastructure development, setting up new platforms and supporting management teams. He has deep knowledge of African markets and has worked across AFC’s priority sectors including Power, Transport & Logistics, Heavy Industries and Natural Resources. 

Egyptian-born Shenouda had been the CEO of Zarou, a developer, owner and operator of infrastructure projects in Africa, the Middle East and South Asia that is 100% owned by The Blackstone Group. Previously, he was the Head of Infrastructure at CDC Group Plc, the UK development finance institution.

“I have always admired the AFC for its innovation, unique mandate, ambitious growth plans and vision to drive infrastructure solutions for the African continent,” said  Shenouda. “I look forward to working with the talented team and all stakeholders to deliver sustainable development for the continent and competitive returns for shareholders, and continue the legacy of my predecessor, Oliver Andrews, in building AFC’s next chapter and driving new frontiers for growth.”

Following  Shenouda’s appointment, Oliver Andrews now retires from the Corporation, after 13 distinguished years at AFC, and nearly 40 years in project development, infrastructure development, investing, public-private partnerships and strategic advisory. 

"Sameh joins AFC at a pivotal time as we scale up our aspirations for accelerated development impact on the continent as well as reconfigure our investment approach to address the challenges from Africa’s first economic downturn in 25 years,” said Samaila Zubairu, President and CEO of AFC. “Sameh brings deep knowledge and innovative thinking to the core sectors within which we operate, as a highly successful financier in Africa’s infrastructure space.

“Our significant gratitude goes to Oliver, who has been at the heart of AFC’s development. Oliver leaves a legacy of success and growth, befitting his stature as one of Africa’s most respected infrastructure financiers. On behalf of the Board and everyone at AFC, we thank him, and wish him well in his retirement.”

Source- Press Release

Country- Africa