AFC Appoints Shenouda CIO

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The Africa Finance Corporation (AFC), 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 brings deep knowledge and innovative thinking to the core sectors within which we operate as a highly successful financier in Africa’s infrastructure space,” a statement from the AFC explained.

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 was most recently the CEO of Zarou, a developer, owner and operator of infrastructure projects in Africa, the Middle East, and South Asia that is 100 per cent owned by The Blackstone Group.

Previously, he was the Head of Infrastructure at CDC Group Plc, the UK development finance institution. Mr. Shenouda built CDC’s direct infrastructure equity business, which, under his leadership, invested in excess of US$1 billion in Africa and South Asia.

“I have always admired the AFC for its innovation, unique mandate, ambitious growth plans and vision to drive infrastructure solutions for the African continent,” Shenouda said.

“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,” he added.

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.

During his tenure as CIO, AFC deployed over US$8.7 billion across 35 countries in Power, Transport & Logistics, Heavy Industries, Telecommunications and Natural Resources.