A Conversation with Olalekan Wahab, IMC Fellow and Thought Leader in African Investment Strategy

Tosin Clegg
As Africa accelerates its push toward digital transformation and economic self-reliance, one truth is becoming clearer: the continent needs finance professionals who understand how capital can unlock opportunity, shape industries, and strengthen the systems that millions rely on every day.

Olalekan (Lekan) Wahab represents this emerging generation. A finance strategist whose work at the Africa Finance Corporation (AFC) placed him at the heart of some of the continent’s most consequential investment decisions, Wahab has built his career around a clear conviction that finance should create value and drive development.

Recently recognized as a Fellow of the Institute of Management Consultants (IMC) for his contributions to the finance industry, Wahab has earned a reputation for structuring investments that balance commercial discipline with long-term national impact. From digital infrastructure and energy projects to industrial expansion and technology enablement, his work reflects a deep understanding of how strategic capital deployment can shift economic trajectories. In this exclusive interview with ThisDay, Wahab reflects on his journey and the evolving future of development finance in Nigeria and across Africa.

You spent significant time contributing to major investment initiatives at the Africa Finance Corporation. How would you describe that experience?

Working at AFC was one of the most formative phases of my career. It gave me the platform to engage with complex, high-impact transactions across telecommunications, renewable energy, technology, and heavy industry. Every investment we evaluated had both a commercial dimension and a broader developmental implication. My role involved structuring private debt and equity-linked instruments that supported projects capable of strengthening infrastructure, expanding digital access, and improving industrial capacity across multiple African markets.

That experience taught me the discipline required to evaluate projects not only as financial assets but as catalysts for long-term national progress. It deepened my conviction that finance, when properly deployed, can be one of the most transformative tools available to developing economies.

What types of projects were you involved in during your time at AFC?

My work cut across sectors that underpin Africa’s economic future. I was involved in evaluating and structuring investments for telecom and digital infrastructure, where we focused on expanding connectivity and improving energy efficiency across network operations. These projects played an important role in strengthening digital ecosystems, especially in regions where connectivity gaps have long limited economic participation.

I also worked on financing structures that supported industrial expansion and energy reliability. In addition, I contributed to the evaluation of fintech-related investments aimed at improving financial inclusion and expanding access to digital payment systems. Each of these engagements required rigorous financial modeling, risk assessment, and deal structuring to ensure that the investments were commercially sound while enabling long-term developmental benefits.

You have now been recognized as a Fellow of the Institute of Management Consultants (IMC). What does this recognition mean to you?

It is an honor I take very seriously. Being conferred as a Fellow of the IMC represents recognition of my contributions to the finance and investment management space in Nigeria and across the continent. The Institute only admits individuals whose work demonstrates innovation, leadership, and meaningful impact, so I’m grateful to be seen in that light.

To me, the Fellowship symbolizes a responsibility as much as it does an achievement. It reinforces my commitment to strengthening the financial systems, advisory frameworks, and capital structures that support sustainable development. I also see it as a platform to contribute further – through mentorship, thought leadership, and continued professional excellence.

What principles guide your approach to development-focused investment?

The first principle is clarity of purpose, understanding what problem the investment is solving and how it aligns with broader development goals. The second is risk alignment. African markets come with unique structural challenges, so investments must be structured thoughtfully to protect against volatility while still unlocking value. The third is sustainability. Infrastructure, industrial capacity, and digital systems must be built on sound financial foundations to endure.

Ultimately, my philosophy is that finance should serve development. It should empower people, enable industries to grow, and unlock the potential of communities that have historically been underserved.

Based on your experience, what do you see as the future of development finance in Nigeria?

The scale of the challenge is staggering. The African Development Bank estimates that Africa needs $130 billion to $180 billion annually to close its infrastructure gap, with a shortfall of $68 billion to $108 billion each year. That gap is the power plant that does not get built, the fibre network that neverreaches the next town, the factory that cannot run a second shift.

Africa’s future lies in mobilizing capital toward projects that chip away at that deficit: digital connectivity, energy resilience, industrial capacity. Development finance institutions will remain essential, but the private sector will increasingly determine outcomes. We need professionals who can structure deals that make sense commercially while unlocking long-term value for communities. I believe we can build a more competitive, integrated economy across the continent but only if we treat finance as a tool for development, not an end in itself.

What continues to motivate your work?

I am motivated by a simple conviction: the decisions we make today determine what life looks like in our communities tomorrow. Every well-structured investment in connectivity means a student in a rural area can access online education. Every financing arrangement for energy infrastructure means a manufacturer can run a second shift and hire more workers. So, finance is not abstract. What drives me is knowing that we are not simply managing portfolios; we are shaping possibilities. And Africa, with its talent, its entrepreneurial energy, and its sheer scale, is positioned to lead this transformation.