The Alliance of African Multilateral Financial Institutions (AAMFI) has appointed Dr. Corneille Karekezi as Chairperson of its Governing Council, succeeding Samaila Zubairu, President and Chief Executive Officer of the Africa Finance Corporation (AFC), who served as the Alliance’s second Chairperson following its establishment in 2024.
The appointment was confirmed at the Ninth Meeting of the AAMFI Governing Council held on 14 February 2026, on the sidelines of the 39th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU Summit) in Addis Ababa, Ethiopia.
Dr. Karekezi currently serves as Group Managing Director and Chief Executive Officer of the African Reinsurance Corporation (Africa Re). He assumes leadership of AAMFI at a pivotal moment, as African multilateral financial institutions deepen collaboration to mobilize long-term capital, reinforce the continent’s financial architecture, and advance Africa-led solutions to development financing challenges Under his leadership, the Alliance will continue promoting stronger institutional coordination, addressing financing gaps, and strengthening Africa’s voice in global financial reform discussions, in alignment with Agenda 2063.
In addition, the Governing Council confirmed key leadership roles, naming Mr. Manuel Moses, Chief Executive Officer of the African Trade and Investment Development Insurance (ATIDI), as First Vice-Chairperson, and Mr. Thierno-Habib Hann, Managing Director and Chief Executive Officer of the Shelter Afrique Development Bank, as Second Vice-Chairperson.
The meeting also marked a milestone in AAMFI’s growth with the formal admission of two new members: the Regional Maritime Development Bank (RMDB) and the Banque Ouest Africaine de Développement (BOAD). Their admission enhances the Alliance’s regional reach and expands its capacity across maritime, infrastructure, trade, and development finance.
Reflecting on his tenure, Mr. Samaila Zubairu said: “It has been an honour to serve as Chairperson. Over the past year, we focused on creating jobs, transforming industries, and strengthening collaboration among our institutions. I am confident that under Dr. Corneille Karekezi’s leadership, AAMFI will continue to deepen its impact and advance Africa’s development priorities.”
On his appointment, Dr. Corneille Karekezi stated: “It is a privilege to lead AAMFI at this defining moment. Our focus will be on mobilizing African capital, strengthening collaboration among our institutions, and ensuring Africa’s development priorities are financed in ways that advance Agenda 2063.”
About The Alliance for African Multilateral Financial Institutions (AAMFI) or Africa Club
The Alliance of African Multilateral Financial Institutions (AAMFI), also known as the Africa Club, is an alliance of African-owned and controlled African Multilateral Financial Institutions (AMFIs). It was established to promote collaboration, cooperation, and coordination among its members in support of Africa’s sustainable economic development and integration objectives, in line with their respective mandates.
The Alliance was launched in collaboration with the African Union Commission by African Heads of State on the margins of the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union on 17 February 2024 in Addis Ababa, Ethiopia.
AAMFI’s members include the Africa Finance Corporation (AFC); African Export-Import Bank (Afreximbank); Trade and Development Bank Group (TDB Group); African Reinsurance Corporation (Africa Re); African Trade and Investment Development Insurance (ATIDI); Shelter Afrique Development Bank (SHAFDB); ZEP-RE (PTA Reinsurance Company); East African Development Bank (EADB); the African Solidarity Fund (ASF); and the Fund for Export Development in Africa (FEDA). New members include the Regional Maritime Development Bank (RMDB) and the West African Development Bank (BOAD).
AAMFI members have matured over several decades and collectively command a balance sheet of over US$70 billion, deployed to address Africa’s critical trade, investment, insurance, and development financing gaps. The formation of the Alliance underscores the shared commitment of its members to support Africa’s self-reliance and sustainable economic development by leveraging African-owned institutions, home-grown solutions, and coordinated action.
