Africa Finance Corp hires former CDC exec as CIO

 Africa Finance Corp hires former CDC exec as CIO

Sameh Shenouda, CIO, Africa Finance Corp. Photo credit: AFC

Africa Finance Corporation, one of the biggest infrastructure investors on the continent, has named Sameh Shenouda as its new executive director and chief investment officer.

Shenouda brings over 27 years of experience in investments and fundraising in international capital markets, with a focus on infrastructure development, setting up new platforms and supporting management teams.

He has worked across AFC’s priority sectors including power, transport and logistics, heavy industries and natural resources, the Lagos, Nigeria-based firm said in a statement.

Egypt-born Shenouda was most recently the CEO of Blackstone-owned Zarou, a developer, owner and operator of infrastructure projects in Africa, the Middle East, and South Asia.

Previously, he was the head of infrastructure at the British development finance institution CDC Group Plc. Shenouda built CDC’s direct infrastructure equity business. Under his leadership, this vertical invested more than US$1 billion in Africa and South Asia.

“Sameh joins AFC at a pivotal time as we scale up our aspirations for accelerated development impact on the continent as well as reconfigure our investment approach to address the challenges from Africa’s first economic downturn in 25 years,” said Samaila Zubairu, president and CEO of AFC.

Shenouda takes over from Oliver Andrews, who retires after 13 years at AFC and after a 40-year career in project development, infrastructure development, investing, public-private partnerships and strategic advisory.

During Andrews’s tenure as CIO, AFC deployed about US$8.7 billion across 35 countries. He built the project development asset class at AFC and led several transactions. These include the 350-megawatt Cenpower Kpone power project in Tema, Ghana; the 60MW Red Sea Power wind farm in Ghoubet, Djibouti; the Dynamic Mining bauxite mine in Guinea; and ARISE, a pan-African infrastructure and industrial platform.

Vivek Sinha

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