David Johnson has been promoted to head Africa Finance Corporation‘s risk management function, succeeding Roger Ellender, who has reached the development finance institution’s mandatory retirement age as Chief Risk Officer. Previously Johnson had served as AFC’s Vice President of Risk Management when he joined the institution 5 years ago, following a 15-year career in which he had worked for various international banks as a risk manager, trader and structurer.
Commenting on the appointment, AFC’s CEO Andrew Alli said “Infrastructure financing is by its very nature a risky business. Projects can take years to develop, meaning a long wait for return on investment. Additionally, the high impact projects that AFC undertakes require large volumes of capital so the corporation always conducts careful evaluation of the risks before embarking on any new project. We welcome David to his crucial new post and wish him every success with it.”
In his new role, Johnson will be responsible for AFC’s Enterprise Wide risk management framework, which covers Credit, Market, Operational, Environmental and Social Risk Management at the Lagos-headquartered multilateral finance institution, which was originally established in 2007.