Alliance of African Multilateral Financial Institutions (AAMFI) Appoints Dr. Corneille Karekezi as Chairperson as the Alliance welcomes New Members

WHY THIS MATTERS:
The Alliance of African Multilateral Financial Institutions (AAMFI) plays a growing role in coordinating African-owned development finance institutions to mobilise capital for the continent’s long-term economic priorities. The appointment of Dr. Corneille Karekezi, CEO of Africa Re, as Chairperson comes at a time when African institutions are seeking stronger collaboration to address infrastructure gaps, expand trade finance and strengthen the continent’s financial architecture under the African Union’s Agenda 2063 framework.

The Alliance’s expansion with the addition of the Regional Maritime Development Bank (RMDB) and the West African Development Bank (BOAD) further increases its reach across sectors including maritime development, infrastructure and trade. Collectively, AAMFI members manage balance sheets exceeding $70 billion, positioning the alliance as a significant platform for mobilising African capital and reducing reliance on external financing systems.

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.”

FF NEWS TAKE:
AAMFI represents a broader shift toward African-led development finance. By coordinating institutions with significant balance sheets and regional mandates, the alliance is strengthening the continent’s ability to fund its own economic transformation.

The challenge ahead will be translating institutional coordination into large-scale capital deployment — particularly for infrastructure, industrialisation and regional integration projects that underpin Africa’s long-term growth ambitions.