The African Development Bank (AfDB) on Sunday appointed Aida Ngir Ngom as the new Director of its Private Sector Development Department.
Her appointment takes effect from February 1, 2024, according to the statement from the Bank. Ngom, a Senegalese national, is a seasoned development finance banker with more than 20 years of experience in private sector origination and development, investment banking, and corporate and project finance, notably in the infrastructure space.
Her experience includes collaborating with both private sector entities and governments, building strategic partnerships with industry leaders, and collaborating 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 joined the Bank in 2007 as a Principal Credit Risk Officer in the Credit Department. In 2013 she was appointed Chief Investment Officer in the Public Private Partnerships and Infrastructure Division in the Bank’s Private Sector Department. Here, she played a key role in strengthening the Bank’s processes and procedures and also participated in various governance bodies including the Non-Sovereign Working Group of the Bank’s Asset and Liabilities Committee. As Chief Investment Officer, she contributed to landmark and ground-breaking transactions providing targeted financial solutions to projects and clients, including the Bank’s biggest private sector syndication loan that mobilized $1 billion for the client. She has also been part of various taskforces including the one that established the Africa 50 and brought 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 Organisation 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”.
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states.