Norwegian oil and gas firm, Aker Energy has appointed the President and Chief Executive Officer of Africa Finance Corporation (AFC), Mr. Samaila Zubairu as the Vice Chairman of Aker Energy’s Board of Directors.
A statement from Aker Energy and AFC, explained that Mr. Zubairu had previously served as CEO of AfriCapital Management Limited and as CFO of Dangote Cement Plc.
Mr. Zubairu is an Eisenhower Fellow and sits on the Eisenhower Fellowship’s Global Network Council.
He holds several non-executive board positions including the Advisory board member for KSE Africa a leading operations and management provider of captive power plants in the mining sectors in Botswana and Nigeria.
Mr. Zubairu is a Fellow of the Institute of Chartered Accountants, Nigeria (FCA) and holds a BSc in Accounting from Ahmadu Bello University, Nigeria.
He is an Ex-Boy of the Nigerian Military School, Zaria.
Commenting on the appointment of Mr Zubairu, Mr. Sverre Skogen who is Chair of the Board of Directors of Aker Energy, said: “AFC is an important partner to Aker Energy. We are honoured to welcome Mr. Samaila Zubairu to the Board, as he brings extensive experience with innovative infrastructure development and financing across the African continent, as well as geopolitical and industrial insight.”
“AFC’s investment in Aker Energy is an exciting milestone – we have partnered with the subsidiary of one of the most highly respected international oil, gas and industrials companies to support its first project in the African market as an operator. This is an opportunity for AFC to invest alongside a technically and financially strong sponsor that requires project development expertise and public sector advice in Africa, both of which AFC is ideally placed to offer. It is therefore a great honour to now also being joining the Board of Aker Energy as Vice Chairman,” Mr. Samaila Zubairu commented.
In July 2019, AFC became an investor in Aker Energy following the issue of subordinated convertible bonds of USD 100 million with a mandatory conversion to equity in the event of an Initial Public Offering (“IPO”) of Aker Energy. AFC intends to take part in other capital market activities initiated by Aker Energy in the future.
Aker Energy is part of the Norwegian Aker group of companies and is, through its subsidiary Aker Energy Ghana Ltd., the operator of the Deepwater Tano / Cape Three Points (DWT/CTP) block offshore Ghana. Aker Energy has its sole focus in Ghana and has submitted a Plan of Development and Operations (PDO) for the block.