Dakar, Senegal, July 31, 2008—IFC,
a member of the World Bank Group, has appointed a new director for West
and Central Africa, Yolande Duhem, who will be based in Dakar, Senegal.
This appointment will help strengthen IFC’s activities and support for
the private sector in the country and wider region.
Duhem, who worked previously as IFC
Senior Manager in Buenos Aires, Argentina, will assume her new duties as
director on September 1. Aida Der Hovanessian, IFC’s current country manager
in Senegal, will now head IFC’s office in Antananarivo, Madagascar.
IFC Vice President for Sub-Saharan Africa
Thierry Tanoh announced the new directorship this week on an official visit
to Senegal. He also outlined IFC’s strategy to get closer to clients by
bringing more resources to Africa and creating two subregional hubs. “IFC’s
choice of Senegal for the directorship covering West and Central Africa
highlights our commitment to the country. It is also an indication of our
strategy to increase investments and advisory services that create opportunities
for private businesses and local entrepreneurs,” Tanoh said.
During the trip, Tanoh met with key
government officials, including H.E. Mr. Abdoulaye Wade, President of the
Republic; Philippe-Henri Dacoury-Tabley, Governor of the Central Bank for
Western African States; Pape Diop, Lord Mayor of Dakar and President of
the Senate; and Samuel Sarr, Minister of Energy. He also met with development
partners, private sector representatives, and IFC clients.
IFC’s new structure for Africa also
includes a director for Eastern and Southern Africa, based in Nairobi,
Kenya. Both directors will report to Tanoh, whose office is in Johannesburg,
South Africa. Tanoh is IFC’s first Vice President to be based outside
IFC invested $35 million in Senegal
during FY08. IFC’s strategy for the country focuses on three main pillars:
Improving the investment climate; Building capacity of micro, small,
and medium enterprises and institutions that support them; Developing projects
in priority sectors as set by the government, including tourism, agribusiness,
telecommunications, high technology, and manufacturing.
IFC, a member of the World Bank Group,
fosters sustainable economic growth in developing countries by financing
private sector investment, mobilizing private capital in local and international
financial markets, and providing advisory and risk mitigation services
to businesses and governments. IFC’s vision is that people should have
the opportunity to escape poverty and improve their lives. In FY07, IFC
committed $8.2 billion and mobilized an additional $3.9 billion through
syndications and structured finance for 299 investments in 69 developing
countries. IFC also provided advisory services in 97 countries. For more
information, visit www.ifc.org.