Africa Finance Corporation appoints Kirstine Damkjaer, former CEO of the Danish Export Credit Agency, to its Board of Directors
Lagos, Nigeria–(BUSINESS WIRE)–Africa Finance Corporation, Africa’s leading infrastructure solutions provider, has appointed Kirstine Damkjaer, former Managing Director of EKF, Denmark’s export credit agency, to its board of directors. Ms. Damkjaer joins the board as an independent non-executive director.
Prior to EKF, Ms. Damkjaer worked for several years at the International Finance Corporation (IFC) and the World Bank in various management positions, including Head of Global Equity Industry, Head of Global Infrastructure and Natural Resources, Director of the IFC Asset Management Company and Senior Portfolio Manager at the World Bank Treasury, Pensions and Endowments. Ms. Damkjaer is a non-executive director of several companies.
AFC, one of the region’s largest investors in infrastructure development, has invested more than $8.7 billion in 35 countries across Africa, driving development and integrating the continent’s economies to transform lives . AFC uses its status as the second highest-rated development finance institution in Africa to secure cost-effective financing for critical infrastructure, and attracts private investment by financing the development phase (pre-financial close) with project development fund to “reduce risk”. “projects.
“Kirstine’s deep expertise in development finance, infrastructure investing and asset management is fully aligned with AFC’s mission of unlocking the growth and job creation potential of Africa through the provision of vital infrastructure,” said Samaila Zubairu, President and CEO of AFC. “We look forward to working with Kirstine to help lead the Company into its next phase of strategic growth. »
Among her roles as an independent non-executive director, Ms. Damkjaer, a qualified Chartered Financial Analyst (CFA) with a master’s degree from Aarhus University, will serve on the Audit and Compliance Committee of the Board of Directors of the company, and to the Risk Committee and Investment Committee.
“I am honored to join AFC at such a crucial time when, more than ever amid the COVID-19 pandemic, the Company’s technical expertise and unique access to global capital are indispensable to African governments working for a resilient economic recovery,” Ms. Damkjaer said.
AFC has 31 member countries, representing more than half of the continent, and was recently designated as an organization eligible to provide Official Development Assistance (ODA) through the OECD Development Assistance Committee.
AFC was established in 2007 to be the catalyst for private sector-led infrastructure investment across Africa. It is the second highest rated multilateral financial institution in Africa. AFC’s approach combines specialist sector expertise with a focus on financial and technical advisory, project structuring, project development and venture capital to meet Africa’s infrastructure development needs and drive a sustainable economic growth. AFC invests in high-quality infrastructure assets that provide essential services in the basic infrastructure sectors of energy, natural resources, heavy industry, transportation and telecommunications. To date, the Company has invested more than US$8.7 billion in projects in 35 countries in Africa. www.africafc.org