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AFIG Funds CEO, Papa Ndiaye, Receives 2018 Private Equity Africa’s Outstanding Leadership Award

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Private Equity Africa (PEA) awarded Papa Ndiaye, CEO of AFIG Funds, the 2018 Outstanding Leadership Award at a ceremony held in London Tuesday night. PEA is the pre-eminent magazine on Private Equity in Africa. It is in recognition of PE professionals who have helped shape the industry.

“It is quite an honor to be recognized by my esteemed peers for Private Equity Africa’s Outstanding Leadership Award. I have had the privilege of seeing the African PE industry blossom from its very humble beginnings in the 1990s, and I firmly believe that the best years are ahead of us, particularly with African capital markets evolving rapidly and the African PE LP base broadening to include a more diverse base of local as well as international institutions in recent years,” said Papa.

“This award is a strong testament to the commitment and hard work of my colleagues at AFIG Funds, who have accepted the challenge of promoting private equity both in established and frontier markets on the continent. Thanks to their hard work and excellence, we have invested across 12 countries to-date and impacted the development of African blue-chip companies in several sectors, while providing healthy returns to our Limited Partners. I also thank my peers in the industry, whose support and friendship and contributions have been essential in fostering a collective vision for a stronger PE sector in Africa.”

It has been a remarkable year for AFIG Funds with one of the company’s LP Old Mutual also being recognized for a House of the Year Award, as well as INJARO (an AFIG Funds strategic partner) for the Small Cap/VC category.

https://iso.keq.mybluehost.me/cnbc-africa-receives-award-for-best-business-television/

Gail Mwamba, Awards Chair &Managing Editor of PEA said: “The Private Equity Africa awards celebrate industry leaders who are doing exceptional work on the continent, and highlighting their achievements helps develop the continent. The Outstanding Leadership Award is the only category that is voted on by industry peers. Papa was selected by the industry leaders for his consistent contribution to the growth of the industry. We would like to thank Papa for his contribution to the industry and congratulate him on winning this prestigious award.”

Papa has been a leader in the Private Equity landscape for three decades. Before AFIG Funds, he was a founding member and Investment Director of EMP (now ECP). Prior to that, he had investment responsibilities in IFC’s Africa Department and helped launch several landmark funds in Africa.

He also worked at Salomon Brothers in 1988 before joining JP Morgan’s Emerging Markets Group in 1992 in the Latin America M&A Group and served as Economic advisor to President Wade of Senegal in 2000. In 2004, Papa was selected as a “Young Global Leader” by the World Economic Forum of Davos, and then as one of the “Frontier 100 CEOs” of the Initiative for Global Development in 2009.

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Kalu Urges Babangida to Name June 12 Election Annulment Culprits

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Senator Orji Uzor Kalu, representing Abia North Senatorial District, has urged former military president Ibrahim Babangida to disclose the identities of individuals responsible for the annulment of the June 12, 1993, presidential election.

In his recently launched memoir, Babangida acknowledged that late Chief MKO Abiola won the election conducted 32 years ago.

Senator Kalu expressed anticipation for a second volume of Babangida’s memoir that would address unanswered questions surrounding the annulment.

He stated, “I look forward to the second edition of Babangida’s book because the first did not reveal all the realities. I was present during the events of June 12, and I know what happened. Babangida should call out the names of those responsible for preventing the election declaration.”

Also, Senator Kalu called on President Bola Tinubu to officially recognise the late MKO Abiola as one of Nigeria’s past presidents. He proposed that Abiola’s portrait be placed alongside those of other former leaders in the Presidential Villa.

He commended former President Muhammadu Buhari for conferring a posthumous national honour on Abiola but emphasised the need for further recognition.

“Since Abiola won, his picture should be placed among Nigeria’s past presidents. I commend former President Buhari for giving him a national honour, but I also appeal to President Tinubu to officially recognise him and place his image where it belongs. This would help bring succour to his family,” Kalu added.

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Kano Court Bars CBN from Withholding LG Funds

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A high court in Kano State has issued a permanent injunction restraining the Central Bank of Nigeria (CBN) from withholding funds allocated to the 44 local government areas (LGAs) of the state.

Justice Ibrahim Musa-Muhammad delivered the ruling on Monday after an ex parte motion filed on November 1 by the National Union of Local Government Employees (NULGE), Ibrahim Muhammed, and five others. The applicants sought to prevent the respondents from delaying or withholding allocations crucial to local governance.

Respondents in the case included the Accountant-General of the Federation (AGF), the CBN, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the 44 Kano LGAs, and commercial banks such as United Bank for Africa and Access Bank.

In November, the court had granted an interim order preventing the CBN and AGF from withholding funds. In his final judgment, Justice Musa-Muhammad ruled in favor of the applicants, affirming that they had established their case.

“The AGF, CBN, and RMAFC are duty-bound to disburse monthly allocations to the 44 LGAs as democratically elected councils,” the judge ruled, emphasizing that withholding the funds would violate the fundamental rights of residents.

Citing sections 33, 42, 43, 44, 45, and 46 of the 1999 Constitution, as well as Articles 13, 19, 22, and 24 of the African Charter on Human and Peoples’ Rights, the court reinforced the constitutional requirement that local government funds be disbursed without interference.

Legal analysts and stakeholders in Kano welcomed the ruling as a landmark decision. NULGE Chairman Ibrahim Muhammed hailed it as a victory for grassroots governance, stating, “This ruling ensures that local governments receive their rightful allocations without political or bureaucratic interference.”

Senior legal practitioner Barrister Amina Yusuf described the judgment as “a reinforcement of the principle of fiscal federalism,” stressing that local government allocations are a constitutional right, not a privilege.

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Ibadan North Bye-Election Aspirant, ‘Socrates’, Bags NANS Southwest Award

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The National Association of Nigerian Students (NANS) Zone-D (Southwest), the umbrella body representing students across Oyo, Lagos, Ogun, Osun, Ondo, and Ekiti States, has conferred an Award of Honour on one of its former leaders and a frontline aspirant in the forthcoming Ibadan North Federal Constituency bye-election, Hon. Monsuru Akintunde Adeyemo, popularly known as Socrates.

The prestigious recognition was bestowed during the NANS Zone-D inauguration ceremony held on Monday, February 10, 2025, at the FUOYE Part-time Centre, Federal University of Oye-Ekiti, Ayegbaju, Ekiti State.

While presenting the award, Com. Owolewa Taiwo, NANS Zone-D Coordinator, lauded Adeyemo for his selfless leadership and unwavering commitment to the association and Nigerian students. He described him as a pro-people thinker who served meritoriously and empowered many.

“Our amiable leader, Sir! Indeed, we’re proud of you, and we want to say thank you for all you’ve done for Nigerian students and humanity in general,” Owolewa said.

“On behalf of myself, the executives, leaders here present, and the entire Nigerian students in Yoruba land, I present this Award of Honour to you, Sir, Hon. Monsuru Akintunde Adeyemo (Socrates), in recognition of your invaluable contributions and meritorious service to NANS Southwest (Zone D).

“You’re being honoured with much appreciation and gratitude. May you continually flourish. Congratulations!”

In his appreciation and solidarity message, the politician, Adeyemo who was represented by the immediate past NANS/JCC Chairman in Oyo State and the current NANS Zone-D Contact and Mobilisation Secretary, Comrade Ridwan Ademola Adegoke (Pa Solution), thanked the association for recognising his contributions to students and humanity.

Describing the honour as a challenge to do more, he reaffirmed his commitment to serving the people.

“Indeed, I dearly use this medium to appreciate the current leadership of NANS Zone-D, capaciously led by our own valued brother and esteemed comrade, Owolewa Taiwo. Thank you for this wonderful meritorious ‘Award of Honour’ that was bestowed on me in recognition of my invaluable contributions and meritorious service to NANS Southwest (Zone D) as a leader and former coordinator of the zone.

“I remain pro-people, and I promise to do more.

“I’m humbled by your encomiums and acts of honour. Of course, this award is a testament to my selfless service to the people, and it is dedicated to all my fellow constituents of Ibadan North Federal Constituency and all my supporters at home and in the diaspora. Thank you all.”

Adeyemo, a renowned pan-African activist and communication professional, has been a pillar of support for student activism and youth empowerment, making him a celebrated figure in the Nigerian student movement.

 

 

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