Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has announced the appointment of Banji Fehintola as its new Executive Director of Financial Services, effective August 1. Banji brings extensive financial expertise and leadership experience to drive AFC’s strategic initiatives, further strengthening its financial position and enhancing the Corporation’s growth trajectory.
Banji succeeds Sanjeev Gupta, who will complete his term with AFC in October this year, following nine years of exceptional service. Under Sanjeev’s leadership, AFC’s Financial Services division developed robust Financial Advisory and Debt Syndication teams, achieving significant milestones for clients and the Corporation. These include a fivefold increase in borrowings from US$1.6 billion to over US$8 billion, remarkable growth of treasury assets from US$1.47 billion to US$5.29 billion, raising approximately US$1 billion in new equity capital, diversifying its shareholder base, and expanding AFC’s country membership from 13 to 43 member countries. These achievements have solidified AFC’s position as a truly pan-African institution.
With over two decades of extensive experience in global markets, financial services, and infrastructure finance across Africa, Banji Fehintola brings a wealth of expertise to his new role. He joined AFC in 2008 and rose through the ranks to become the Corporation’s pioneer Treasurer. His leadership of the funding team was instrumental in securing the Corporation’s investment-grade credit rating and raising over US$12 billion in funding through diverse sources. Banji’s strategic vision, innovation, and financial acumen propelled AFC’s Treasury team to global recognition, winning awards such as “Best Supranational Treasury & Funding Team of the Year” and accolades for several landmark transactions.
In his new position as Executive Director of Financial Services, Banji will oversee multiple functions, including Treasury & Financial Institutions, Financial Advisory, Syndications, and the newly created Capital Mobilization & Partnerships. His appointment will play a pivotal role in strengthening AFC’s commitment to unlocking pragmatic solutions for infrastructure projects that enhance local value capture and spur industrialization.
Samaila Zubairu, President and CEO of AFC, expressed gratitude for Sanjeev’s nine years of dedicated service, saying, “We are immensely grateful for Sanjeev’s significant contributions to supporting the Corporation’s growth and impact on the African continent and beyond. We are thrilled to welcome Banji as our new Executive Director of Financial Services. His deep understanding of the global financial landscape, coupled with his strong track record and institutional history with AFC, make him a valuable addition to our Board and executive team. We look forward to leveraging his capabilities to build on our success.”
Sanjeev Gupta commented, “It has been an absolute privilege to serve at Africa Finance Corporation for the past nine years. Our accomplishments together have been most satisfying, and I am confident that with the appointment of Banji Fehintola, AFC is well-positioned for continued success. I wish Banji the best as he takes on this role and contributes his expertise to furthering AFC’s mission in Africa.”
Banji has had a distinguished career in the finance industry, holding leadership roles at leading multinational financial institutions. Before joining AFC, he worked at Citibank Nigeria within the Fixed Income, Currencies, and Commodities team, and at former Arthur Andersen in the Tax and Business Advisory Division. Banji is an alumnus of Harvard Business School, and he holds a first-class degree in Economics and Master’s degrees in International Finance and International Business. He is also a Chartered Accountant, a CFA Charter holder, and sits on the Boards of several companies, including the Board of Governors of the CFA Institute.
“I am very honored to take on this new role at AFC, an institution that is very dear to my heart and at which I have spent the largest part of my career. By playing a critical role in shaping the future of Africa’s infrastructure landscape, AFC’s mission connects directly with my personal purpose and passion,” Banji said. “I look forward to building on the strong foundation that Sanjeev has laid and working with the executive management team and the Board to accelerate development impact for Africa.”
