The Alliance of African Multilateral Financial Institutions (AAMFI) has appointed Dr. Corneille Karekezi as Chairperson of its Governing Council, marking a leadership transition for the Africa-focused development finance alliance as it strengthens cooperation among regional institutions.
Dr. Karekezi, who currently serves as Group Managing Director and Chief Executive Officer of African Reinsurance Corporation (Africa Re), succeeds Samaila Zubairu, President and CEO of the Africa Finance Corporation (AFC).
His appointment was confirmed during the ninth meeting of the AAMFI Governing Council held on the sidelines of the 39th Ordinary Session of the Assembly of Heads of State and Government of the African Union in Addis Ababa, Ethiopia.
The leadership change comes at a time when African multilateral financial institutions are seeking stronger coordination to mobilise long-term capital and address the continent’s development financing gaps.
Under Karekezi’s leadership, AAMFI is expected to deepen collaboration among member institutions while strengthening Africa’s influence in global financial reform discussions aligned with the African Union’s long-term development blueprint, Agenda 2063.
The Governing Council also confirmed additional leadership appointments, naming Manuel Moses, Chief Executive Officer of African Trade and Investment Development Insurance (ATIDI), as First Vice-Chairperson, and Thierno-Habib Hann, Managing Director and CEO of Shelter Afrique Development Bank, as Second Vice-Chairperson.
In a further boost to its regional footprint, the alliance admitted two new members: the Regional Maritime Development Bank (RMDB) and the Banque Ouest Africaine de Développement (BOAD), also known as the West African Development Bank.
Their inclusion expands AAMFI’s capacity in maritime finance, infrastructure development, and regional trade support.
Reflecting on his tenure, Zubairu said the alliance had focused on job creation, industrial transformation and institutional collaboration during its formative year.
Karekezi said his priority would be mobilising African capital and strengthening partnerships among member institutions to finance development projects across the continent.
Founded in 2024 in collaboration with the African Union Commission, AAMFI brings together African-owned multilateral financial institutions with a combined balance sheet exceeding $70 billion, aimed at financing trade, investment and development across Africa.