By Africa Links 24
Published on 2024-04-04 09:12:36
For over two decades, I held a powerful position at Natixis, a global financial institution, before making the decision to return to Africa as the head of BOAD. The question often arises: why did I make this choice? The answer lies in my unwavering connection to my roots and my continuous monitoring of the developments in Africa. My experience at Natixis provided me with a unique perspective on the global economy, and I saw an opportunity to apply this knowledge to development initiatives in Africa.
The vast diversity, abundant resources, and potential for growth on the continent intrigued me. I wanted to be a part of Africa’s journey towards a prosperous future, leveraging my talents and experience to contribute to its development. Working in the heart of London’s financial center was satisfying, but I felt disconnected from the tangible impact of my work on people’s lives. Moving to Lomé allowed me to engage in impactful finance where the effects of our efforts are visible and rewarding.
Moreover, it was crucial for me to instill in my children a strong sense of their African heritage and the responsibility we have towards the continent. Recognizing the myriad challenges facing the region, including power shortages, limited access to education, housing issues, and youth empowerment, I felt compelled to be part of the solution. Drawing inspiration from countries that had successfully overcome similar obstacles, I embarked on this new chapter to contribute to Africa’s progress.
As BOAD commemorates its 50th anniversary, I reflect on the bank’s significant achievements in the region. Through investments in vital sectors like electricity, infrastructure, and social services, BOAD has positively impacted the lives of people in member states. These projects have played a key role in improving living conditions and driving economic growth across the region.
In the current global polycrisis characterized by rising costs of living and interest rates, the role of development institutions like BOAD becomes even more crucial. During the pandemic, development institutions provided vital support to countries, demonstrating their resilience and effectiveness in times of crisis. However, access to affordable capital remains a challenge for African countries, emphasizing the need for innovative approaches and partnerships with global financial institutions.
As the Co-President of the International Development Finance Club (IDFC), I am honored to represent Africa in this influential organization. The IDFC serves as a platform for development banks to collaborate and promote sustainable investments worldwide. By sharing best practices and aligning with global priorities, we aim to drive economic growth and address critical issues like climate change.
Looking ahead, the Djoliba Plan outlines BOAD’s ambitious five-year strategy to deepen investments in key sectors and accelerate economic development in the region. By enhancing capital mobilization and organizational restructuring, we are committed to supporting member states’ development efforts and fostering a more prosperous and sustainable future.
In navigating the evolving global landscape, flexibility and pragmatism have become essential for our operational approach. We must innovate and adapt to meet the diverse challenges facing the region. With a dedicated team and a focus on finding effective solutions, I am confident in BOAD’s ability to drive impactful change and contribute to Africa’s development journey.
