AFC aims at US$5billion By 2017

The African Finance Corporation has restructured with the objective of becoming the ‘go to’ institution for Infrastructure financing on the African continent.

“AFC’s medium term objective is to be a US$5 billion corporation by 2017,” Lucy R Savage, Vice President Communications, AFC, told Business World.

AFC invests in high quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transportation and telecommunications.

In January, 2015 AFC implemented a new organisational structure that focuses on 4 core clusters.

“The purpose of this re-organisation was to increase the Corporation’s client responsiveness by creating sector clusters that would each be responsible for delivering all of AFC’s products to clients within those sectors. This simplifies the Corporation’s structure, increasing responsiveness and competitiveness,” Savage elaborated.

AFC completed its restructuring with the executive level appointment of Sanjeev Gupta as Executive Director, Financial Services.

In this role, he will have responsibility for Treasury, Financial Advisory and the newly created Financial Institutions Division.

Previously, he was managing partner in charge of Emerging Markets M&A at Ernst Young Transaction Advisory Services. He was also Founder and Managing Partner of Emerging Opportunity Consulting, as well as Chief Executive Officer, Sanlam Investment Management responsible for Emerging Markets.

“[Gupta has] a twenty year track record in financial Institutions and advisory business,” Savage said of Gupta.

It seems like his experience and expertise makes him the right man for the job.