First Holdco Appoints Former Afreximbank Executive Gwen Mwaba to Board

The trade finance expert brings nearly three decades of international banking and development finance experience, including oversight of a $19.5 billion portfolio at Afreximbank.

First Holdco has appointed Ms Gwen Mwaba, a former Managing Director for Trade Finance and Correspondent Banking at the African Export-Import Bank (Afreximbank), as a non-executive director on its board.

The Nigerian financial institution disclosed the appointment in a statement, noting that it became effective on October 15, 2026.

Mwaba brings nearly three decades of experience spanning international banking, development finance, credit risk management, corporate and sovereign lending, structured trade and commodity finance, and emerging markets.

Her appointment comes with extensive experience in managing large credit portfolios, assessing lending risks and developing trade finance solutions across African markets, areas that are significant to financial institutions operating in an increasingly interconnected global economy.

During her tenure at Afreximbank, headquartered in Cairo, Egypt, Mwaba had executive leadership responsibility for trade finance and structured credit activities across Africa and the Caribbean. She also oversaw a portfolio valued at $19.5 billion, comprising exposures to sovereign entities, financial institutions and corporate clients.

In that capacity, she contributed to the bank's Pre-Credit and Credit Committees, where she provided senior-level credit judgement on major lending transactions. Her responsibilities also included overseeing portfolio strategy, sector exposures and country risk limits.

Her experience in credit governance and portfolio oversight is expected to bring an international banking perspective to deliberations at First Holdco's board level.

Before assuming her executive leadership position at Afreximbank, Mwaba served as Regional Head for Anglophone West Africa, where she oversaw regional strategy and credit origination across Nigeria, Ghana, Sierra Leone, Liberia, The Gambia and Cape Verde.

The role gave her responsibility for business development and lending opportunities across several West African markets, including Nigeria, one of the region's major financial and commercial centres.

Her career also includes a senior position at Standard Bank Plc in London, where she served as Executive Vice President for Structured Trade and Commodity Finance.

In that role, she was responsible for complex commodity financing arrangements, export-credit-agency-backed facilities and pre-export financing transactions across Africa. Such transactions typically require detailed assessments of commodity markets, repayment structures, counterparty risks and the commercial viability of underlying trade activities.

Earlier in her career, Mwaba held senior positions at Stanbic Bank Zambia and Standard Bank South Africa, including Head of Vehicle and Asset Finance and Head of Corporate Banking.

These responsibilities broadened her experience across corporate lending, asset-backed financing and commercial banking operations in African markets.

Beyond her executive banking roles, Mwaba has participated in international industry initiatives focused on trade finance and financial markets. She was a member of the Editorial Board of Trade Treasury & Payments and, until recently, served on the Multilateral Institutions Board Advisory Panel of the International Trade & Forfaiting Association (ITFA).

She also served on the World Trade Organisation-led Expert Group on Trade Finance, reflecting her involvement in discussions around international trade financing and the role of financial institutions in supporting cross-border commerce.

Mwaba holds a Master of Business Administration degree from Heriot-Watt University in the United Kingdom and a Bachelor of Science degree with honours in Applied Accounting from Oxford Brookes University, also in the UK.

She is a Fellow of the Association of Chartered Certified Accountants (FCCA) and holds a professional qualification from the Chartered Institute of Transport.

Her appointment adds international banking, credit risk and trade finance experience to First Holdco's board, with her background spanning commercial banking, multilateral development finance and structured financing across several African markets.

The appointment also highlights the importance of experienced board oversight in financial services, particularly in areas involving credit exposure, risk management, corporate governance and financing for businesses engaged in domestic and international trade.

As financial institutions navigate changing market conditions and financing requirements, the depth of expertise available at board level remains an important consideration in strategic decision-making and the management of financial risks.