IFC appoints Oumar Seydi as Regional Director for Sub-Saharan Africa

18 Jul 2017
Financial Nigeria


IFC provided $2.4 billion in new long term investments and mobilizations, and $1.5 billion in short term investments in Sub-Saharan Africa in 2016.

IFC's Regional Director for Sub-Saharan Africa, Oumar Seydi

The International Finance Corporation has announced the appointment of Oumar Seydi to a newly expanded role as Regional Director for the entire Sub-Saharan Africa region effective July 1st.

The IFC said Seydi, in his new role, will drive the organization’s long-term strategy to create markets and mobilize capital in the region. Seydi will be assisted by two soon-to-be appointed Associate Directors: one for West and Central Africa, based in Dakar, and another for East and Southern Africa, based in Nairobi, according to a statement released last week.

“Africa is a priority for IFC, and Oumar’s leadership will help us play a growing role to catalyze private investment in the continent,” said Philippe Le Houérou, IFC’s CEO. “Our goal is to work with the private sector and with governments to create markets throughout Africa, including in fragile situations, to provide more opportunities and more jobs for people.”

Seydi was previously Senior Manager for the Central Africa sub-region, responsible for overall management of IFC's investment and advisory operations in Cameroon, Central African Republic, Congo Republic, Chad, DRC, Equatorial Guinea and Gabon. He has held various positions at IFC, including Director of Human Resources for more than four years.

He joined IFC in 1997 as an Investment Officer, focused on the chemicals sector in a department for oil, gas, mining and agribusiness. Prior to that, he was a manager at Ernst & Young in New York; he also spent five years at the United States Agency for International Development (USAID). Seydi holds an MBA from Harvard Business School.

“IFC has a strong franchise in Africa and we have the opportunity to increase our impact by ensuring that private investment plays a much larger role in the continent’s development,” said Seydi. “IFC will work across the World Bank Group and with other partners to provide private investors with the products and services they require to de-risk projects.”

The IFC invested nearly $19 billion globally in the 2016 fiscal year, including about $8 billion mobilized from other investors. In Sub-Saharan Africa, IFC provided $2.4 billion in new long term investments and mobilizations, and $1.5 billion in short term investments.

The Washington D.C.-based multilateral lender said it has also facilitated an additional $700 million in mobilizations in the region on behalf MIGA, another World Bank Group institution that promotes foreign direct investment by providing political risk guarantees and credit enhancements to investors.

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