The Board of Directors of Africa50 has announced the appointment of Alain Ebobissé as Chief Executive Officer of Africa50, the Pan-African infrastructure investment platform capitalised by the African Development Bank and, so far, by 22 African countries with an initial capitalisation of $830 million.
Ebobissé, a citizen of Cameroon, currently serves as the Global Head for the World Bank Group’s Global Infrastructure Project Development Fund where he oversees a team of highly skilled and experienced infrastructure specialists and leads the development and investment in several infrastructure projects in Africa, Asia, Europe and Latin America. Ebobissé has led the design, structuring and implementation of IFC InfraVentures from its inception. Ebobissé also serves as Chief Investment Officer in the Global Infrastructure and Natural Resources Department of the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, based in Washington, DC. USA.
Prior to joining IFC in 1998, Ebobissé held several positions in the financial services industry in France, including as Deputy Head of Project and Structured Finance at Caisse des Depots et Consignations, based in Paris. Ebobissé holds a Master of Business Administration from the International School for Management Development (IMD).
“Ebobissé is well recognised global leader in the area of infrastructure finance and development. He has an impressive track record of global leadership in successful development of private, and public-private infrastructure development, structuring, financing and equity investment in emerging markets,” said Akinwumi Adesina, President of the African Development Bank and Chairman of the Board of Directors of Africa50.
“I am excited about the opportunity to lead Africa50 and serve Africa and to work with Government partners and private investors to develop and fund a large number of bankable infrastructure projects in the continent on the basis of strong commercial discipline and sound investment principles,” stated Ebobissé.
“I look forward to working with the Board of Directors and to building a highly skilled and experienced team of infrastructure investment professionals that will enable us to help transform the African infrastructure landscape,” he added.
“I am delighted to welcome Ebobissé to Africa50. His extensive experience and recognized global leadership in infrastructure development will be critical as we build Africa50 into an effective and successful infrastructure investment house widely recognised as a leader in infrastructure project development and investment in Africa, with an excellent reputation and credibility within the continent and beyond,” said Akinwumi Adesina.
Africa50 is a specialised international financial institution established by the African Development Bank and African countries to help accelerate infrastructure development in Africa.
Africa50 held its Constitutive General Assembly on 29th of July 2015 in Casablanca, Morocco.
The countries who have so far committed funds to Africa50 are: Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Djibouti, Egypt, Gabon, Ghana, Kenya, Madagascar, Malawi, Mali, Mauritania, Morocco, Nigeria, Niger, Senegal, Sierra Leone, Sudan, The Gambia and Togo.
While the first closing was available only to African countries, it is anticipated that the second and subsequent closings will be available not only to African countries that are yet to invest in Africa50, but also non-sovereign investors both in Africa and outside Africa with a target to raise $3 billion over the medium term to invest in commercially viable infrastructure projects across Africa. Africa50 is incorporated in Casablanca, Morocco and enjoys certain privileges and immunities.
Africa50 is committed to the highest standards of corporate governance and ethical, environment and social responsibility.