Africa Finance Corporation hires Blackstone’s Zarou CEO, Sameh Shenouda, as CIO

LONDON–(Company WIRE)–Africa Finance Corporation, one particular of the most significant investors in infrastructure solutions in Africa, is delighted to announce the appointment of Sameh Shenouda as its new Executive Director and Chief Financial investment Officer.

Mr. Shenouda brings more than 27 a long time of encounter in investments and fundraising in intercontinental cash marketplaces, with a target on infrastructure advancement, placing up new platforms and supporting management teams. He has deep knowledge of African marketplaces and has labored across AFC’s precedence sectors which include Electrical power, Transportation & Logistics, Large Industries and Organic Methods.

Egyptian-born Mr. Shenouda was most a short while ago the CEO of Zarou, a developer, proprietor and operator of infrastructure jobs in Africa, the Center East, and South Asia that is 100% owned by The Blackstone Team. Earlier, he was the Head of Infrastructure at CDC Group Plc, the British isles growth finance institution. Mr. Shenouda designed CDC’s direct infrastructure equity business, which, underneath his management, invested in surplus of US$1 billion in Africa and South Asia.

“I have normally admired the AFC for its innovation, special mandate, bold advancement programs and eyesight to travel infrastructure answers for the African continent,” said Mr. Shenouda. “I glimpse forward to doing work with the proficient crew and all stakeholders to supply sustainable advancement for the continent and competitive returns for shareholders, and continue the legacy of my predecessor, Oliver Andrews, in making AFC’s upcoming chapter and driving new frontiers for development.”

Adhering to Mr. Shenouda’s appointment, Oliver Andrews now retires from the Company, just after 13 distinguished decades at AFC, and just about 40 a long time in job improvement, infrastructure improvement, investing, public-personal partnerships and strategic advisory.

In the course of his tenure as CIO, AFC deployed above US$8.7 billion across 35 nations around the world in Ability, Transportation & Logistics, Significant Industries, Telecommunications and Natural Means. He was pioneer of the challenge improvement asset course at AFC, possessing led several signature transactions together with the 350MW Cenpower Kpone IPP project in Tema, Ghana the 60MW Crimson Sea Ability wind farm in Ghoubet, Djibouti Dynamic Mining bauxite mine in Guinea and Occur, a pan-African infrastructure and industrial platform. The pioneer Chairman of Africa Infrastructure Growth Association, Mr. Andrews led AFC’s accreditation with the Environmentally friendly Local weather Fund. Previously functioning at the Globe Financial institution, the African Improvement Lender, the Economic Local community of West African States (ECOWAS), TCI Infrastructure and the Gambia Ports Authority, Mr. Andrews obtained the Winner of Finance Award in 2017 from EMEA Finance for his contribution to the investment decision business.

“Sameh joins AFC at a pivotal time as we scale up our aspirations for accelerated progress influence on the continent as perfectly as reconfigure our expense strategy to address the worries from Africa’s initially financial downturn in 25 yrs,” claimed Samaila Zubairu, President and CEO of AFC. “Sameh provides deep understanding and progressive contemplating to the core sectors in which we operate as a really effective financier in Africa’s infrastructure area.

“Our substantial gratitude goes to Oliver, who has been at the coronary heart of AFC’s progress. Oliver leaves a legacy of good results and advancement, befitting his stature as just one of Africa’s most highly regarded infrastructure financiers. On behalf of the Board and everyone at AFC, we thank him, and would like him very well in his retirement.”


Notes to Editors

About AFC –

AFC was set up in 2007 to be the catalyst for private sector-led infrastructure expenditure throughout Africa. It is the 2nd best investment quality rated multilateral financial establishment in Africa. AFC’s strategy combines professional industry knowledge with a target on monetary and specialized advisory, undertaking structuring, project development and hazard capital to address Africa’s infrastructure improvement requirements and push sustainable economic advancement. AFC invests in large-excellent infrastructure assets that supply vital expert services in the core infrastructure sectors of electrical power, all-natural resources, hefty business, transportation, and telecommunications. To date, the Company has invested more than US$8.7 billion in initiatives in 35 countries across Africa.