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Senegal: African Development Bank appoints Aida Ndir Ngom as Director of the Private Sector Development Department

The African Development Bank has appointed Aida Ngir Ngom as Director, Private Sector Development Department. Her appointment takes effect from February 1, 2024.

Ngom, a Senegalese national, brings over two decades of expertise in development finance banking, specializing in private sector origination and development, investment banking, and both corporate and project finance. Her extensive experience notably extends to the infrastructure sector.

Her professional background includes collaborative efforts with private sector entities and governments. She has a track record of establishing strategic partnerships with industry leaders and engaging in cooperation with other multilateral financial institutions and regulatory bodies.

Prior to her appointment, Ngom served as Manager for the Energy Financial Solutions Division within the Power, Energy, Climate and Green Growth Complex, after having been Chief Investment Officer in the Bank’s Private Sector Department. She played a key role in fostering the deployment of innovative financial products and instruments as a path to delivering ground-breaking infrastructure projects and promoting a Just Energy Transition for Africa. Ngom also serves as an advisory Board member of private equity funds in the Renewable Energy and Infrastructure space.

Ngom commenced her tenure at the Bank in 2007 as a Principal Credit Risk Officer in the Credit Department. By 2013, she advanced to the position of Chief Investment Officer in the Public Private Partnerships and Infrastructure Division within the Bank’s Private Sector Department. In this role, she played a pivotal role in enhancing the Bank’s processes and procedures. Ngom actively participated in governance bodies, including the Non-Sovereign Working Group of the Bank’s Asset and Liabilities Committee.

As Chief Investment Officer, she contributed significantly to groundbreaking transactions, providing tailored financial solutions to various projects and clients. Notably, she played a key role in orchestrating the Bank’s most significant private sector syndication loan, mobilizing $1 billion for the client. Ngom has also been an integral part of taskforces, including the one that established Africa 50, offering catalytic support to key economic sectors across the continent.

Prior to joining the Bank, Ngom worked as an investment professional and head of credit in various international and regional commercial banks including Citibank and Mauritius Commercial Bank in East, Southern, and West Africa as well as in France, in both origination and credit functions.

She graduated from Heriot Watt University in Edinburgh, with a Master of Arts degree in Business Organization and holds a Master of Science in Banking and Finance.

Commenting on her appointment, Ngom said: “I am truly honoured and humbled by the confidence placed in me and I am grateful to President Adesina for this appointment. I am fully committed to working and collaborating with the Bank’s senior leadership team, colleagues, as well as with our private sector clients and partners to attract private sector capital in key economic sectors and spearhead key strategic initiatives, supporting the President’s vision”.

African Development Bank Group President, Dr Akinwumi Adesina, said: “I am pleased to appoint Ms Aida Ngom, a respected and seasoned development finance banker as Director for the Private Sector Development Department. Aida brings to this role extensive management experience and expertise in the fields of development finance, private sector development and capacity building. She will help the Bank attract the much-needed private sector capital to key sectors and to position the institution as the partner of choice for private sector operators, whilst leveraging the Bank’s thorough understanding of the African context”.

source: afdb.org

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