The African Development Bank (AfDB) announced today the appointment of Mrs. Aida Ndir Ngom as the Director of the Private Sector Development Department, a historic step that positions her as the first woman to hold this prestigious role within the institution.

“Before her appointment, Mrs. Ngom served as Head of the Financial Solutions for Energy Division within the Electricity, Energy, Climate, and Green Growth Complex, following her role as Chief Investment Officer within the Bank’s Private Sector Department. She played a key role in promoting the deployment of innovative financial products and instruments for groundbreaking infrastructure projects and the advancement of a just energy transition for Africa. Mrs. Ngom is also a member of the advisory board of private investment funds in the renewable energy and infrastructure sector,” reads a press release from the AfDB published on January 21.

A Senegalese national, Mrs. Ngom has collaborated with private sector entities and governments, establishing strategic partnerships with industry leaders and working closely with other multilateral financial institutions and regulatory bodies. Her expertise extends to the field of infrastructure, where she has been a pioneer in promoting innovative financial products and instruments for revolutionary infrastructure projects, contributing to a just energy transition for Africa.

Mrs. Ngom, who joined the Bank in 2007, has marked her journey with significant contributions, including her key role in strengthening the Bank’s processes and procedures as Chief Investment Officer. She contributed to historic transactions, including the largest private sector syndication loan granted by the Bank, mobilizing $1 billion for the client.

As the first woman to hold the position of Director of the Private Sector Development Department, Mrs. Ngom expressed her gratitude and commitment by stating, “I am truly honored and touched by the trust placed in me and am grateful to President Adesina for this appointment. I am fully committed to working and collaborating with the Bank’s leadership team, my colleagues, as well as with our private sector clients and partners, to attract private sector capital into key economic sectors and to drive essential strategic initiatives, supporting the president’s vision.”

The President of the African Development Bank Group, Mr. Akinwumi Adesina, praised Mrs. Ngom’s appointment as a “respected and experienced banker in the field of development finance.” He expressed confidence in her ability to attract the necessary private capital and position the Bank as a preferred partner for private sector stakeholders in Africa. This appointment marks a significant step towards promoting female leadership within the African Development Bank and in the field of private sector development at large.

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