Papa Madiaw Ndiaye Takes the Helm of Ecobank’s Board of Directors

Friday, 07 June 2024 16:52
Papa Madiaw Ndiaye Takes the Helm of Ecobank’s Board of Directors

(Togo First) - Papa Madiaw Ndiaye, the CEO and founder of AFIG Funds, has taken over as Chairman of the Board of Ecobank Transnational Incorporated (ETI), succeeding Cameroonian Alain Nkontchou.

Ndiaye's experience extends far beyond his work at AFIG Funds. He was Investment Director at Emerging Markets Partnership (EMP) in Washington, where he played a key role in raising USD 407 million for the AIG African Infrastructure Fund in 2000, the largest pan-African fund at the time.

Before joining EMP, Ndiaye worked for the International Finance Corporation (IFC), managing equity and debt investments for African financial institutions between 1996 and 2000. He also worked at Salomon Brothers and later with JP Morgan's Emerging Markets Group, laying the foundations for his expertise in securities trading in Africa and the Middle East.

Ndiaye's academic background is equally impressive, with an MBA from the Wharton School of Business, an MA in International Business from the Lauder Institute of the University of Pennsylvania, and a BA in Economics from Harvard College.

In addition to his business responsibilities, Ndiaye is also on the board of several entities, including the African Private Equity and Venture Capital Association (AVCA).

As the new Chairman of the Board, Ndiaye will have to work on returning dividends and tackling the problems encountered by the group's Nigerian subsidiary, which is going through a difficult period.

Fiacre E. Kakpo

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