TUE, JANUARY 17 2017-The African Development Bank (AfDB) has announced the appointment of former Deputy Group CEO/Managing Director, Investment Banking at United Capital Plc (former UBA Capital Plc), Wale Shonibare as the Director – Energy Financial Solutions, Policy and Regulation with effect from 9th January 2017.
Shonibare has held previous senior level executive positions, including Managing Director and Head of Infrastructure, Africa, Middle East and New Markets at Renaissance Capital in Dubai, Director KPMG in Dubai and Associate Director KPMG, London.
Shonibare, who is currently the Managing Director and CEO, of Shonibare Consulting FZE, Dubai, United Arab Emirates (UAE), helped raise over $450 million for investors in power generation assets in Nigeria. He has also been involved in several sub-sovereign and corporate bonds, project finance and mergers and acquisitions transactions across various sectors, including power generation and distribution, upstream oil and gas, Compressed Natural Gas, Liquefied Natural Gas, fertilizer plants, hydropower power projects, toll roads, light and heavy rail, ports, real estate, healthcare, hospitality and specialized economic zones.
The President of the African Development Bank, Dr. Akinwumi Adesina, said of the appointment, Wale’s extensive knowledge of infrastructure financing and policy and regulatory environments will be very helpful as the Bank launches its engagements with African countries and investors to accelerate investments into the energy sector”.
The appointments of Ms. Astrid Manroth, a German, Dr. Anthony Nyong, who joined the Bank in 2008 as the pioneer Climate Change Expert and built up the Bank’s first climate change initiatives and Mr. Ousseynou Nakoulima, a Senegalese, was also announced by the bank group. Manroth becomes the Director for Energy Transformative Partnerships with effect from 15th February 2017. She joins the Bank from her current position as Managing Director for Sustainable Investments Europe and Africa at Deutsche Bank, Germany, according to AfDB. Nyong becomes the Director for Climate Change and Green Growth with effect from 1st January 2017 while Nakoulima becomes the Director for Renewable Energy and Energy Efficiency with effect from 1st April 2017.
