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African Development Bank appoints Desiré Jean-Marie Vencatachellum Senior Director, Country Economics Department

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African Development Bank

Over the past decade Vencatachellum has played a key role in resource mobilization and partnerships

ABIDJAN, Ivory Coast, October 18, 2023/APO Group/ — 

The African Development Bank (www.AfDB.org) has appointed Desiré Jean-Marie Vencatachellum Senior Director of the Country Economics Department, effective 1st November 2023.

A Mauritian national and seasoned development banker, Vencatachellum has more than thirty years of experience in strategic leadership on development economics and finance issues, particularly in Africa. He has excelled in leading large and diverse teams interfacing with senior stakeholders to deliver on high-stakes mandates under tight deadlines. He is also recognized as a leader in raising and managing development capital.

Vencatachellum joined the African Development Bank Group in 2005 as a Principal Research Economist and since 2011 has served in senior positions, leading departments, such as Director of Research (2011-2012), Director of Operational Policies (2012-2013), and Director for Resource Mobilization and Partnerships Department from 2013 until this appointment. In 2020 he received the Best Mentor Award from the Staff Council of the African Development Bank Group, in recognition of the career and professional guidance he has continuously provided to his colleagues and teams.

Over the past decade Vencatachellum has played a key role in resource mobilization and partnerships. Under his leadership, the 16th replenishment of the African Development Fund (ADF), the concessional window of the African Development Bank Group for 37 low- income African countries, reached the highest level ever at $8.9 billion in December 2022. The replenishment saw contributions from 31 donors. He also led the ADF-15 replenishment in which resources increased by 32%.

Mr. Vencatachellum has done an excellent job at raising development capital for the African Development Bank

Vencatachellum has led, managed and overseen trust funds and special funds, and introduced many innovations. He led the development of the 2021 African Development Bank Group Trust Fund Policy, which prioritized multi-donor trust funds and ensured that all trust funds are fully aligned with the Bank’s strategic priorities. He pioneered a number of firsts such as establishing the Bank’s first Trust Fund with a foundation, the Bill and Melinda Gates Trust Fund, and framework agreements with the European Commission which since 2015 have led to the European Commission approvals of more than EUR 1 billion worth of co-financed projects and guarantee agreements.

As Director of the Research Department, Vencatachellum expanded coverage of the African Economic Outlook to all African countries. He conceived and led the team which implemented the pioneer ex-ante Additionality and Development Outcome Assessment (ADOA) of all non-sovereign operations at the African Development Bank. He has delivered high impact operational policies such as the Bank amended Credit Policy and the Bank Group Energy Policy.

Prior to joining the African Development Bank Group, Vencatachellum was at HEC Montréal, Université de Montréal. He has published extensively in peer-reviewed journals in economic development, economic history, econometrics and research and development. He holds a Ph.D. in Economics (Queen’s University, Canada) and a Magistère Ingénieur Economiste (Université d’Aix Marseille II, France).

Commenting on his appointment, Vencatachellum said: “I would like to thank Dr. Adesina for appointing me to this position. I see it as an extraordinary opportunity to further position Africa’s premier development institution as the provider of knowledge- based solutions for a sustainable, inclusive and prosperous Africa. I look forward to working with senior management, talented and dedicated colleagues, and all stakeholders to help implement the president’s inspiring vision for the Bank and for Africa.”

The President of the African Development Bank, Dr. Akinwumi Adesina said: “I am pleased to appoint Mr. Vencatachellum to the position of Senior Director, Country Economics Department. Mr. Vencatachellum has done an excellent job at raising development capital for the African Development Bank. His expertise spans development economics, economic policy and policy dialogue, country-level studies, resource mobilization, project finance and development effectiveness. I am confident that he will bring this blended and extensive experience to bear on strengthening the country economic analysis underpinning the Bank’s support to economic reforms in regional member countries, with a view to improving support to economic reforms in regional member countries, with a view to improving the development impact of this support.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

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Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

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Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

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CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

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The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

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ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

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