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Zenon Petroleum & Gas Proceedings to Wind up Africa Finance Corporation Dismissed

10 Aug 2009

Lagos - Africa Finance Corporation (AFC) today announced that proceedings instituted by Zenon Petroleum & Gas Limited to wind up AFC, were discontinued and struck out with costs awarded to AFC by the Federal High Court, Lagos. This brings to an end the proceedings before the court. The AFC Board of Directors and Management welcomed the result and announced that Zenon Petroleum & Gas Limited has ceased to be a shareholder in the AFC.

Note to Editors

The Africa Finance Corporation (AFC) is an African led financial institution with the mission to improve African economies by proactively creating, developing and financing infrastructure, industrial and financial assets.

For more information, contact, Dr Adesegun Akin-Olugbade, Africa Finance Corporation (Tel: +234 1 279 9600, e-mail: adesegun.akin-olugbade@africafc.org)

In other news:

• AFC Conferred with Diplomatic Status as an International Institution
• AFC to Support Power Generation in Ghana
• Africa Finance Corporation and major International banks commit USD 750 mm to develop Ghana's largest offshore Oil Field
• Solomon Asamoah assigned the responsibility of Chief Investment Officer and Dr. Adesegun Akin-Olugbade elevated to the post of Executive Director
• The Gambia Joins the Africa Finance Corporation

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