InfraCredit, a ‘AAA’ rated specialised infrastructure credit guarantee institution, backed by the Nigeria Sovereign Investment Authority (NSIA), Private Infrastructure Development Group companies GuarantCo and InfraCo Africa, KfW Development Bank, Africa Finance Corporation (AFC) and African Development Bank, has announced the appointment of Sanjeev Gupta of AFC as Chairman, replacing the outgoing Chairman Uche Orji of NSIA.
In addition, InfraCredit welcomes Aminu Umar-Sadiq and Reginald Ihebuzor to the Board as Non-Executive Directors representing NSIA, replacing Orji and Stella Ojekwe-Onyejeli of NSIA.
The Board and Management of InfraCredit give sincere thanks to Orji and Ojekwe-Onyejeli for their manifold contributions to InfraCredit’s development since their appointments as pioneering members of InfraCredit’s Board of Directors in 2016.
Sanjeev Gupta has been appointed as the new Chairman of the African Development Bank (AFC), succeeding Uche Orji, the outgoing Chairman of the Nigeria Sovereign Investment Authority (NSIA).
InfraCredit is backed by the Nigeria Sovereign Investment Authority (NSIA), Private Infrastructure Development Group companies GuarantCo and InfraCo Africa, KfW Development Bank, Africa Finance Corporation (AFC) and African Development Bank.
Aminu Umar-Sadiq and Reginald Ihebuzor also were welcomed by InfraCredit to the Board as Non-Executive Directors, replacing NSIA representatives Uche Orji and Stella Ojekwe-Onyejeli.
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The Board and Management of InfraCredit extend their profound gratitude to Orji and Ojekwe-Onyejeli for their numerous contributions to the company’s growth since their appointment as pioneer members of the board in 2016.
Since 2018, Gupta has served as the Board Risk & Capital Committee and Board Remuneration Committee’s chairperson for InfraCredit. His responsibilities include managing the Corporation’s Treasury, Trade Finance, Syndication, Country Relations, and Advisory business units. He also serves as the division’s chief executive and a member of the board of directors.
In taking his position as InfraCredit Chairman, Gupta expressed his delight and welcomed the new NSIA delegates.
“I am honoured to assume the role of Chairman of InfraCredit, a truly unique institution whose impact in using credit enhancement to facilitate access to long-term, local currency financing for infrastructure projects is noteworthy,” Gupta said.
As managing director of NSIA, Umar-Sadiq has over 15 years of expertise in the financial services industry, including public finance management, mergers and acquisitions, private equity, and asset management. Umar-Sadiq had previously led NSIA’s multi-strategy infrastructure initiatives and served as the Head of Direct Investments as an Executive Director of NSIA since 2019.
“As one of those who had worked on InfraCredit at the concept phase and an ardent believer in its catalytic impact and its potential to serve as an enabler for attracting long-term capital into the domestic infrastructure development sector, I am delighted to be appointed as a non-executive director and look forward to contributing to the next phase of this value-led organisation’s evolution,” Umar-Sadiq said.
“InfraCredit provides veritable means to support well-structured infrastructure projects and I accept the nomination to join the Board and lend my experience toward achieving the organisation’s goals”, said Ihebuzor.
