The African Alliance of Multilateral Financial Institutions (AAMFI) has appointed Dr. Corneille Karekezi as Chair of its Governing Council, replacing African Finance Corporation (AFC) President and Chief Executive Officer Samaira Zubair, who has served as the Alliance’s second chair since its establishment in 2024.
The appointment was confirmed at the 9th meeting of the AAMFI Board of Directors held on 14 February 2026 on the sidelines of the 39th African Union Heads of State (AU Summit) in Addis Ababa, Ethiopia.
Dr Kalekezi currently serves as Group Managing Director and Chief Executive Officer of Africa Reinsurance Corporation (Africa Re). He assumes the leadership of AAMFI at a pivotal time when Africa’s multilateral financial institutions are increasingly working together to mobilize long-term capital, strengthen the continent’s financial architecture, and advance African-led solutions to development financing challenges. Under his leadership, the Alliance will continue to strengthen institutional coordination, close financing gaps, and strengthen Africa’s voice in global financial reform discussions, in line with Agenda 2063.
Additionally, the Board confirmed key leadership roles and appointed Mr. Manuel Moses, Chief Executive Officer of African Trade, Investment and Development Insurance (ATIDI), as First Vice-Chairman, and Mr. Tierno Habib Khan, Managing Director and Chief Executive Officer of Shelter African Development Bank, as Second Vice-Chairman.
The conference also marked a growth milestone for AAMFI with the formal accession of two new members: Regional Maritime Development Bank (RMDB) and West African Development Bank (BOAD). Their accession strengthens the Alliance’s regional reach and expands its capabilities across maritime, infrastructure, trade and development finance.
Reflecting on her tenure, Samaira Zubair said, “It has been an honor to serve as Chair. Over the past year, we have focused on creating jobs, transforming industries, and strengthening interagency collaboration. I am confident that under Dr. Corneille Karekezi’s leadership, AAMFI will continue to deepen its impact and advance Africa’s development priorities.”
Commenting on his appointment, Dr. Corneille Karekezi said, “I am honored to lead AAMFI at this critical moment. We will be focused on mobilizing African capital, strengthening inter-agency cooperation, and ensuring that Africa’s development priorities are funded in a way that advances Agenda 2063.”
Distributed by APO Group on behalf of the African Alliance of Multilateral Financial Institutions (AAMFI).
About the African Alliance of Multilateral Financial Institutions (AAMFI) or the African Club:
The African Alliance of Multilateral Financial Institutions (AAMFI), also known as the African Club, is an alliance of African owned and managed African Multilateral Financial Institutions (AMFI). It was established to foster cooperation, collaboration and coordination among member states in line with their respective missions and in support of Africa’s sustainable economic development and integration goals.
The Alliance was launched by African Heads of State in collaboration with the African Union Commission on the sidelines of the 37th African Union Heads of State and Government Meeting in Addis Ababa, Ethiopia, on 17 February 2024.
AAMFI members include African Finance Corporation (AFC); African Export-Import Bank (Afreximbank); Trade and Development Bank Group (TDB Group); African Reinsurance Corporation (Africa Re); African Trade, Investment and Development Insurance (ATIDI); Shelter African Development Bank (SHAFDB); ZEP-RE (PTA Reinsurance Company); East African Development Bank (EADB); African Solidarity Fund (ASF). African Export Development Fund (FEDA). New members include the Regional Maritime Development Bank (RMDB) and the West African Development Bank (BOAD).
AAMFI members have been mature for decades and have been deployed to address Africa’s critical trade, investment, insurance and development financing gaps, commanding a combined balance sheet of more than US$70 billion. The creation of the Alliance underscores its members’ shared commitment to leveraging African-owned institutions, homegrown solutions and collaborative action to support Africa’s self-reliance and sustainable economic development.
