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International Finance Corporation (IFC), the private sector financing arm of the World Bank Group, has appointed Olivier Buyoya as its new Regional Director for West Africa.

In his new role, Buyoya, who will cover 13 countries in the region, will lead IFC’s strategy and operations to spur private sector development and opportunity, IFC said in a statement it sent to Financial Nigeria today.

Buyoya will work closely with the World Bank, development partners, and public and private sector partners to lead efforts to grow IFC’s investment and advisory programs in the region that has immense opportunity for investment, job creation, and private sector-led growth but is also grappling with inflation, rising food insecurity, climate change, and other challenges, the statement said.
 
A Burundian national who has worked for IFC for more than 15 years in various leadership roles, Buyoya brings extensive development experience to his new role, which will be based in Dakar, Senegal. He most recently served as IFC Country Manager for Burkina Faso, Côte d’Ivoire, Guinea, Mali, and Niger, where he led the implementation of high-impact development projects and helped IFC mobilize $2 billion in investments.
 
“I’m delighted to take up this new role and look forward to increasing IFC’s support to West Africa, a dynamic region of immense potential,” said Buyoya. “Although West Africa faces both local and global challenges, increased private sector investment can help the region build stronger, more sustainable economies by developing key sectors including agribusiness, green energy, the digital economy, and others.”

Prior to joining IFC, Buyoya worked for BNP Paribas Fortis in Brussels, Belgium. He holds a Master’s degree in Management from Reims Management School in France.

According to IFC, its focus in West Africa includes supporting agribusiness value chains, helping bridge the infrastructure and connectivity gaps, promoting digital inclusion, supporting affordable housing, strengthening the healthcare sector, boosting manufacturing, and providing financing to micro, small, and medium-sized enterprises.

IFC said it committed a record $32.8 billion to private companies and financial institutions in developing countries in fiscal 2022, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises.