The Abuja Electricity Distribution Company (AEDC) released a statement, revealing that its Board of Directors have approved the appointment of Ije Ikoku as acting Chief Finance Officer (CFO) of the Company, also stating reasons why she is most qualified for the job.
Ije’s appointment is sequel to the unfortunate demise of the Company’s first CFO, Mr. Andrew James Atterbury on January 19, 2017.
According to the press statement issued by AEDC’s Head of Public Relations & Media, Ahmed Shekarau, on Sunday, Ije has over 18 years of leadership experience in the fields of investments and infrastructure finance. She is also known to be a founding team member of Copperbelt Electricity Company (CEC) Africa Investments, a multi-country infrastructure investment platform (with approximately $1 billion in assets under management) established to develop, finance and operate power projects across Sub Saharan Africa. CEC has stakes in power projects in operations and under development in Nigeria, Sierra Leone, Zambia and Namibia. The statement added that Ije Ikoku is the immediate past CFO of CEC Africa.
Prior to this she was a Senior Investment Officer and Infra Team Lead at the World Bank/International Finance Corporation (IFC) where she spent seven years, the statement explained, adding that: “In this role, Ije was responsible for all facets of deal sourcing, structuring, negotiating, and financing of infrastructure transactions and public private partnerships”, and that at IFC, she worked in Washington DC and Lagos covering infrastructure investments in Africa and Latin America, where she successfully structured project finance and private equity deals in infrastructure in excess of US$2.5 billion.
From IFC, the statement further said, Ije also brings specific expertise in electricity distribution turnarounds, having served as portfolio lead for IFC’s US$135 million debt investment in Cameroun’s power sector, which included Cameroon’s privatized utility (AES Sonel); adding that she was also transaction lead for IFC’s US$85 million equity investment in one of the largest utilities in Brazil (Equatorial Energia).
According to the statement, before joining IFC, Ije was the Finance Director at Geometric Power and previously spent her professional career (primarily in finance) supporting entrepreneurial ventures in the United States, Ghana, Nigeria, Namibia and South Africa, and has worked at Charles Schwab, Emerging Capital Partners, to name a few.
It said further that Ije holds a BSc in Mechanical Engineering from Stanford University, and an MBA in Finance & Entrepreneurial Management from the Wharton School of Business, University of Pennsylvania.