UK development finance investor CDC has given another boost to its African team by hiring Dolika Banda as its new regional director for the continent.
Banda’s appointment, which came a little over a month after Ayaan Adam was named CDC’s managing director for the African funds team, will be followed by the hiring of two or three regional directors for Africa, said the firm.
Banda joined CDC after spending 16 years with the International Finance Corporation, where she was responsible for its financial markets activities across sub-Saharan Africa, Latin America and the Caribbean.
In her new job, Banda will support CDC’s recent decision to invest equity and debt directly in businesses in Africa and South Asia.
CDC CEO Diana Noble said, “[Banda] is a hugely experienced investor who really understands the needs and opportunities facing African companies, particularly at this time when CDC is actively focusing its efforts on supporting the businesses that can create jobs and opportunities across the continent
“Given Africa’s size and CDC’s growing ambition, we expect to recruit two or three more regional directors to join Dolika.
“She will In the meantime cover the whole region for us and work alongside our London-based investment teams to support them with her local knowledge, guidance and strong relationships.”
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