In a conversation reflecting on a career spanning more than three decades, Oliver Tunde Andrews, Founder of TOCAM Capital and Executive Chairman of FG Gold, spoke not of transactions alone, but of the deeper responsibilities that
accompany capital, infrastructure, and leadership in Africa. His journey, from early adversity, through engineering, finance, public-sector reform, and ultimately African project finance—offers a perspective shaped by endurance rather than expedience. It is a reminder that the work of building infrastructure is never purely technical; it is cultural, institutional, and generational.
From Personal Resilience to Institutional Leadership
Oliver Andrews’ early life was marked by significant personal challenges, including years of illness that interrupted formal education. Yet that period of forced stillness became formative, instilling reflection, discipline, and resolve.
What followed was a career defined by breadth: engineering at sea, postgraduate training, regeneration work in the UK, exposure to public-sector transformation, and eventually a pioneering role at Africa Finance Corporation (AFC).
During his tenure at AFC, Oliver Andrews oversaw the origination of infrastructure opportunities across the continent, contributing to projects with total costs exceeding US$40 billion and engaging with a pipeline of opportunities far larger. More importantly, he helped build institutional processes capable of structuring, financing, and delivering complex projects at scale.
That experience now informs TOCAM’s approach: advisory grounded not in theory, but in execution.
Infrastructure as an Ecosystem, Not a Transaction
A recurring theme in the discussion was the idea that infrastructure development cannot succeed in isolation. Projects sit within complex ecosystems, of governments, regulators, communities, financiers, engineers, and operators, each with distinct incentives and cultures. Understanding how these systems interact is as critical as financial structuring itself.
This belief underpins TOCAM’s transaction advisory philosophy: that capital must be aligned with technical reality, institutional capacity, and long-term development objectives. Without this alignment, projects may reach financial
close, but they rarely endure.
African Capability, Applied Locally
Perhaps most striking was Mr Andrews’ insistence that Africa’s development cannot rely indefinitely on external expertise. While global standards matter, implementation must be distinctly African in character—creating opportunities for local professionals, contractors, and institutions to learn, participate, and lead.
This conviction is reflected in projects such as the Baomahun Gold Project, where African-led development, supported by global best practice, has enabled Sierra Leone’s first large-scale commercial gold mine to move from concept to reality. For TOCAM, such projects represent more than milestones; they demonstrate what disciplined capital and local capability can achieve together.
Writing Africa’s Narrative
Beyond infrastructure, there is a broader conversation about responsibility: shaping how Africa is perceived and how it perceives itself. Whether through institutional reform, cultural leadership, or capital deployment, the message was clear—Africa’s narrative must be written by Africans, grounded in confidence, competence, and conviction.
For TOCAM Capital, this philosophy defines its work. Transaction advisory is not merely about closing deals; it is about structuring outcomes that build capacity, transfer knowledge, and leave institutions stronger than they were before.
