Cameroonian Alain Nkontchou has handed over the chairmanship of the board of directors of Ecobank Transnational Incorporated (ETI) to Senegalese Pape Madiaw Ndiaye, according to one of the resolutions adopted on June 6th in Lome, during the 36th edition of the bank’s annual general meetings. Thus, a perfectly bilingual investment fund manager replaces another who is also perfectly bilingual.
Pape Madiaw Ndiaye is the CEO and Founder of AFIG Funds. His career includes a stint at Emerging Markets Partnership in Washington (EMP) as an investment director. He was one of three partners to raise 407 million USD for the African Infrastructure Fund AIG, which, at its launch in 2000, was the largest pan-African fund ever achieved (about 30% net annual return).
Before joining EMP, he held responsible positions for the equity and debt investment activities of the IFC in capital markets and financial institutions in Africa between 1996 and 2000. Pape began his career at Salomon Brothers and joined JP Morgan’s emerging markets group in 1992. In 1994, he launched JP Morgan’s trading activities in securities in Africa and the Middle East. In 2000, Pape was appointed Special Advisor for Economic and Financial Affairs to the President of the Republic of Senegal and Chairman of the Senegalese Presidential Economic and Financial Advisory Council. That same year, he launched MIDROC BVI, a direct investment vehicle for Sheikh Mohammed Al-Amoudi. He sits on the boards of many African companies and non-profit organizations related to Africa. Pape holds an MBA from the Wharton School of Business, an MA in International Affairs from the Lauder Institute at the University of Pennsylvania, and a BA in Economics from Harvard College.
