By Stella Obi
The Anambra State Governor, Prof. Chukwuma Soludo, has emphasized the need for Africa to have a private sector oriented development finance institution, designed, owned, and primarily managed by Africa that can attract global capital.
Governor Soludo made the remarks during the Night of Recognition organized by the Africa Finance Corporation (AFC) on Monday in Lagos, which marked the kickoff of the corporation’s annual staff retreat themed “The Africa we Build.” He noted that AFC was created to address the continent’s infrastructure and economic gaps.
The governor observed that overreliance on foreign capital and aid often slows project implementation and limits African ownership.
He also praised AFC’s unique public private partnership model.
“AFC was established to foster a unified African approach to financial and private sector partnerships,” Governor Soludo said.
He commended the corporation for becoming one of the continent’s leading development finance institutions and a catalyst for investments across key sectors.
A former Nigerian President, Chief Olusegun Obasanjo described AFC as an Africa-led institution effectively addressing the continent’s developmental needs.
The Chairman of Heirs Holdings, Tony Elumelu lauded AFC for its corporate governance and professional standards.
Also, President and CEO AFC, Samaila Zubairu expressed gratitude to Prof. Soludo, Chief Obasanjo, and Elumelu for their pivotal role in establishing the Pan-African multilateral financial institution.
Stella is of the Ministry of Information, Anambra State
