Cote d'Ivoire: AfDB Chief makes 2 major appointments to management team

Abidjan, Cote d'Ivoire (PANA) - The President Akinwumi Adesina of the African Development Bank (AfDB) Group, has announced two major appointments in the organization, aimed at strengthening his management team.

According to the AfDB media outlet, those appointed are Mr. Charles O. Boamah, as Senior Vice-President, and Ms. Hassatou Diop N’Sele, as Acting Vice-President for Finance and Chief Financial Officer of the bank. The appointments are with immediate effect.

Having served as Vice-President and Chief Financial Officer of the bank for the past six years and as Acting First Vice-President and Chief Operating Officer, Mr. Boamah comes into the new role with solid first-hand understanding and knowledge of the finances, operations and administration of the AfDB.

The bank said Mr. Boamah is a globally respected executive with over 35 years of successively challenging leadership experiences in and outside of Africa.

A people-centred and results-oriented leader, Mr. Boamah has led and championed several major change initiatives at the Bank, including reorganizations, re-engineering of business process for greater efficiency and increased decentralization of the Bank’s activities. He brings to the new role first-hand experience in business continuity planning and execution, having played a leading role in the successful temporary relocation of the Bank to Tunis in 2003 and the equally successful return to Abidjan in 2015.

Over the past six years, Mr. Boamah has successfully led major resource mobilization drives for the Bank, including the most recent replenishment of the African Development Fund, the establishment in 2015 of the Africa Growing Together Fund, a US$ 2 billion co-financing facility, successful negotiation of a US$ 3 billion co-financing facility under the Enhanced Private Sector Assistance Facility for Africa, among others.

He led the task force for the establishment of Africa50, an innovative vehicle for accelerated infrastructure delivery in Africa.

Mr. Boamah currently chairs the Governing Council of the African Legal Support Facility and the Steering Committee of the African Financial Markets Initiative. He also serves on the Board of Directors of Africa50 and the Board of Governors of the Eastern and Southern African Trade and Development (PTA) Bank. He previously served on the Board of Directors of the African Export Import Bank (Afreximbank), the Audit Advisory Committee of UNICEF and a couple of Global Action Committees of the World Economic Forum.

He joined the African Development Bank in 1996 from Wells Fargo Bank, where as Vice-President of Accounting Policy and Research, he provided guidance to deal teams in the structuring of complex transactions, among other responsibilities.

Mr. Boamah started his professional career with Coopers and Lybrand (now PricewaterhouseCoopers - PwC) in Accra, Ghana,  (1978 to 1980) and in Los Angeles, US, (1982-1985), where he provided assurance as well as mergers and acquisition support services to companies in banking, insurance, manufacturing and retail industries. His portfolio of clients also included municipalities and several state-owned enterprises.

Mr. Boamah holds a B.Sc. (First Class Honors) in Business Administration from the University of Ghana, Legon, and a Masters in Business Administration (MBA) in Finance from the University of California, Los Angeles, US. He is also a Certified Public Accountant (CPA) from the State of California, US.

Ms. Hassatou Diop N’Sele, appointed Acting Vice-President for Finance and Chief Financial Officer, is currently the Treasurer of the African Development Bank Group and will hold the position jointly with her current responsibility as the Treasurer of the Bank Group, until a substantive new Vice-President for Finance and Chief Financial Officer is appointed.

Ms. N’Sele takes over from Mr. Boamah.

Ms. N’Sele is a seasoned professional with 25 years of banking and finance experience. She has led the expansion of the African Development Bank’s capital markets activities across the globe, setting an effective funding strategy for the institution.

She oversees investments of the Bank Group’s US$ 20 billion liquidity in multicurrency portfolios and its hedging activities. She leads discussions with rating agencies on treasury activities and provides strategic support to discussions with member countries on capital increases, replenishments of the African Development Fund (ADF), and the Multilateral Debt Relief Initiative.

Ms. N’Sele joined the Bank in 1999 as a Senior Treasury Officer and successively held the positions of Principal Treasury Officer, Chief Treasury Officer and Manager of the Capital Markets and Financial Operations Division.

Ms. N’Sele holds a Masters of Business Administration (MBA) in Finance and a Bachelor of Business Administration from the George Washington University, Washington, DC, USA.
-0- PANA VAO 29April2017

29 april 2017 14:43:08

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