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Nigeria: AFC Gets New President

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Daily Trust (Abuja)

24 July 2008
Posted to the web 24 July 2008

Jibrin Abubakar

The Board of Directors of the Africa Finance Corporation (AFC) Tuesday indefinitely suspended Mr. Austine O. Ometoruwa as President and Chief executive Officer of the institution.

To replace Mr. Ometoruwa, the AFC Board has named Mr. Solomon Asamoah as Acting President & CEO until further notice.

A statement from the AFC said until this current appointment, Mr. Asamoah, a Ghanaian national, was Executive Director and Executive Vice President of the AFC.

"The AFC's board reaffirmed its full support for the vision and mandate of the organization and an interest in seeing the operations of the corporation move forward under new leadership," the statement said.

It said AFC is a hybrid investment bank and development finance institution created to help mobilize and channel required capital to drive African development.

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