Champion of finance award has been bestowed on Africa Finance Corporation (AFC) and its leadership. These awards are given to those individuals whose lifetime contributions to finance and the EMEA region have demonstrated excellence and provided an impactful result for shareholders and clients alike.
Additionally, the Corporation received recognition in EMEA Finances Achievement Awards 2017 for success in accessing international capital markets. The Corporation won the following accolades: Best Supranational Bond, Best Supranational Sukuk, and Best Supranational Borrower.
Andrew Alli, who has served as AFC’s president/CEO since 2008, was awarded the Champion of Finance Award for his achievement in, and lifetime contribution to, the field of finance, and for relentless contributions to the sustainable development of Africa’s infrastructure.
This is demonstrated through projects that have transformed the continent, particularly in countries that traditional investors have typically shied away from.
Alli has previously worked for organisations International Finance Corporation, Coopers & Lybrand (now PricewaterhouseCoopers), that have reflected and built on his driving passions: To use financial innovation and expertise to develop Africa and to unlock the continents vast and unrealised potential, and to build African financial institutions that can effectively deliver that focused investment. He has concentrated on delivering this during his term leading Africa Finance Corporation.
Under Alli’s leadership, AFC has, over the last 10 years, evolved from a $1 billion start-up into an institution that is a powerful force on the continent with a balance sheet of $4.2 billion.
It currently has a membership of 20 countries, an A3 Credit rating by Moody’s Investor Services (the second highest rated African lending institution), and has invested in various capacities in the following landmark African projects:
The 1,786mw power joint venture with Harith General Partners – Anergi Holdings, which provides electricity to 30 million people across five countries in Africa.
The $205 million project to develop Alufer Minings Guinea-Conakry high grade bauxite reserves, the largest investment of its kind to take place in the country following the 2014 Ebola crisis that brought the country’s economy to a standstill. With bauxite accounting for up to 30% of the country’s exports, the impact to the population of this investment is tremendous.
The $240 million Main One Cable Company, which provides telecoms services, network solutions and wholesale internet services for people and businesses in West Africa. Main One provides direct connectivity to over 10 million users, with several more millions benefitting indirectly.
Christopher Moore, CEO/publisher of EMEA Finance, said, “Across Africa, we have seen a steady rise in the innovations around infrastructure financing solutions, which have gone a long way to improving Africa’s power, transport and industrial sector to name just a few.
“Without a doubt, Oliver and Andrew, particularly through the AFC platform, have emerged over the years as being amongst the most significant actors in the infrastructure space. EMEA Finance is therefore delighted to present these very richly deserved awards.”
