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AFC's Board Risk and Investment Committee Appoints Taiwo Adeniji as Chief Risk Officer and Portfolio Manager
28 Nov 2008
Lagos, 28 November 2008 - The Board Risk and Investment Committee (BRIC) of Africa Finance Corporation (AFC) ratified the appointment of Taiwo Adeniji as Chief Risk Officer and Portfolio Manager effective today. In his new role as CRO, Adeniji will be in charge of Credit, Market and Operational aspects of risk in the Corporation. In the Portfolio Manager role, he will be responsible for ensuring proper management of the portfolio of the Corporation investments. "Taiwo has deep experience both in the creation and management of risk assets", says Andrew Alli, AFC's CEO. With the approval by the BRIC of the Corporation's Credit Risk Policy, Taiwo, in his new role will have the responsibility of widely disseminating the corporation's standards for risk management.
Adeniji's 20-year experience in banking and finance cuts across commercial, investment and development banking as well as infrastructure finance in some of the largest economies in Africa, including Egypt, Nigeria and South Africa. Adeniji started his professional career in commercial banking in 1988, working briefly with both First Bank of Nigeria Plc and UBA Plc before joining the then Chartered Bank Plc in 1989 as a Banking Officer, from where he rose to the position of Senior Manager and managed two of the bank's biggest branches in Lagos.
He joined the African Development Bank (AfDB) in 1995, where, over a 12-year period, he worked on some of the most challenging lending and investment operations of the institution. He was also a member of several policy groups at the ADB, developing and reviewing risk management policies and systems for the bank's operations. His last position was as the institution's Chief Financial Analyst, before joining the AFC in November 2007 as Head, Risk Analysis.
AFC's main focus is project finance. The Corporation mobilizes risk capital for project development. Established in 2007, AFC implements strategies to scale up the involvement of African capacity in the development and ownership of infrastructure assets.
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