AfDB appoints Adegbie-Quaynor as VP for Private Sector, Infrastructure and Industrialisation

05 Mar 2020
Financial Nigeria


Adegbie-Quaynor is a former IFC Country Manager for Nigeria.

Solomon Adegbie-Quaynor, incoming Vice President for Private Sector, Infrastructure and Industrialization, African Development Bank

The African Development Bank (AfDB) has appointed Solomon Adegbie-Quaynor as its Vice President for the Private Sector, Infrastructure and Industrialization Complex. AfDB announced the senior leadership appointment this week, stating that Adegbie-Quaynor, who is an American citizen, will resume his new position on May 1, 2020.
Adegbie-Quaynor has over 25 years development finance and investment banking experience. For almost 20 years, he worked with the International Finance Corporation (IFC), a member of the World Bank Group, where he served in different capacities, including Country Manager for Nigeria, Chief Investment Officer in Global Client Leadership and Strategic Investments, and Head of Infrastructure for sub-Saharan Africa (SSA).

According to a statement by the AfDB, Adegbie-Quaynor is an emerging markets specialist. Since October 2018, he has served as Senior Advisor to Rothschild & Co, a multinational investment bank and financial services company. He has also served in several other senior advisory roles, including at IFU – the Danish development financial institution (DFI), as well as a Nigeria-based SME-focused private equity fund, Synergy Capital.

Adegbie-Quaynor, who has an MBA with concentration in finance and strategy from J.L. Kellogg Graduate School of Management, Northwestern University in the US, is Non-Executive Director at InfraCredit – a credit guarantee company owned by the Nigeria Sovereign Investment Authority (NSIA) and GuarantCo.  

“I am delighted that Solomon Quaynor will be joining the senior leadership team at the African Development Bank," Akinwumi Adesina, President of the AfDB, said. "Solomon is a distinguished development finance and investment banker who brings over 25 years of global career experience in private sector, deep and extensive knowledge of Africa, and development financing experience and networks that spans Africa, Western Europe and Asia."

As IFC's Country Manager for Nigeria, Adegbie-Quaynor led the growth and diversification of IFC's portfolio in Nigeria, making it the ninth largest country portfolio globally, and the largest in SSA. Adegbie-Quaynor is also the founder of Mkobi Afrika Pensheni (MAP) Investments, which he established to pool African pension funds to invest in infrastructure, industry, commercial property and affordable housing.

Adesina said Adegbie-Quaynor's remarkable record as a strategic and innovative thinker, developer of transformational projects and initiatives, and strong results-orientation will be strong assets for the multilateral DFI.

The incoming AfDB Vice President holds an MSc in Electrical Engineering from Georgia Institute of Technology, and a BSc in Applied Physics from the Atlanta University Center (AUC), where he also previously served was a college professor in Mathematics and Engineering.

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