Elumelu, Others Extol AFC’s Governance Standards

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The Chairman, United Bank for Africa Plc, Mr. Tony Elumelu, has hailed the African Finance Corporation (AFC) for its various initiatives and contributions targeted towards supporting African economies in the last few years.

He also noted that these initiatives had gone a long way in fostering growth and diversity on the continent.
Elumelu, who gave this commendation during the AFC’s 10th anniversary celebrations in Abuja recently, was also full of praises for the corporate governance culture exhibited and practised by the AFC, adding that its impact has been felt not only in Africa, but by the world over.

The UBA Group chairman, who was honoured and recognised at the event as a long serving board member of the AFC, said: “As a pioneer chairman of Risk and Governance at the AFC, I interacted closely with management and the AFC has world class leadership and management. We have seen great seeds planted. This is indeed an African institution domiciled in Nigeria with world class standards”, and he referred to the Triple A rating of the AFC.

Having served on the board of AFC for nine years, he shared his vision and hopes for the corporation in the next 10 years as he sat on a panel titled: “The foundation for growth,” alongside the former Nigerian President Olusegun Obasanjo and a former Central Bank of Nigeria (CBN) Governor, Prof. Chuwuma Soludo.

“The commodity crisis has demonstrated that we need to attract more capital to Africa and I would like to see the AFC mobilizing much needed capital to the continent as we engage with our political leaders to create the enabling environment for growth and development,” Elumelu said.