The World Bank has announced the appointment of 2 Vice Presidents for the newly created divisions in the Sub-Saharan African Regional portfolio, which was announced earlier in the year 2020.
This was disclosed by the Bretton Woods Institution in a press statement released on Wednesday July 1, 2020.
The newly created divisions – Western/Central Africa and the Eastern/Southern Africa – are a sign of the strong commitment of the World Bank to Africa.
The Sub-Saharan region had been led since 2018 by Hafez Ghanem, who now takes on the role of Vice President for Eastern and Southern Africa, while Ousmane Diagana becomes Vice President for Western and Central Africa today.
According to Hafez Ghanem, “Our commitment to Africa gets stronger every day and I am thrilled to work alongside Ousmane Diagana to deliver more resources to the people who need them the most. We are two Vice Presidents, but we see Africa as one, and will continue sharing lessons, expertise, and ideas across the continent.”
The creation of an additional Vice Presidency Unit is part of the World Bank Group’s continuous efforts to align resources with priorities. This will help drive the reforms and policies needed to achieve sustained and broad-based growth, alleviate poverty and raise living standards for people on the continent.
In his statement Ousmane Diagana said, “I am honored to lead the Bank’s efforts in West and Central Africa, with a strong focus on innovation, impact, and transformation. Working together with Hafez, I know we can and will do more to put countries and people first and find ways to confront today’s development challenges using all of the tools at our disposal.”
Diagana’s appointment comes as the Bank looks to strengthen the delivery of its Africa program and further improve its operational focus on regional portfolios to better support the transformational improvements that are possible in Africa.
The World Bank is expected to lend about $50 billion to 48 countries in Sub-Saharan Africa, which is significantly more than what will be spent in any other region. This also makes up to one-third of the World Bank’s entire portfolio, which includes projects and programmes in areas like agriculture, energy, trade and transport, education, health, water and sanitation.
Ousmane Diagana is a Mauritanian national with more than 25 years of development experience, Diagana joined the Bank in 1992. As the Vice President of Western and Central Africa, Diagana will lead the World Bank’s strategic, analytical, operational and knowledge work in Western and Central Africa.
Since joining the Bank, Diagana has held several technical and managerial positions including Country Director for Mali, Niger, Chad, Guinea, and Country Director for Cote d’Ivoire, Burkina Faso, Guinea, Benin and Togo. Diagana has worked extensively in Fragile, Conflict and Violence (FCV) affected countries.
Prior to this appointment, Diagana was the World Bank Group Vice President for Human Resources. He also served as Vice President for Ethics and Business Conduct and World Bank Group Chief Ethics Officer. As World Bank Group Vice President for Human Resources, he has been central to many initiatives to bring staff closer to clients, particularly in FCV client countries.
Hafez Ghanem, an Egyptian and French national, is the Regional Vice President for Eastern and Southern Africa. A development expert with over 30 years of experience, Dr. Ghanem leads relations with 26 countries, and oversees over 280 projects totaling more than $49 billion.
Prior to his appointment, Dr. Ghanem served as the Vice President for Africa. Under his leadership, the World Bank supported inclusive growth and poverty reduction by financing projects that boost human capital, support private sector development, raise agricultural productivity, improve access to infrastructure, build resilience to climate change, and promote regional integration.
Intensifying assistance for fragile and conflict-affected states, promoting gender equality, and providing economic opportunities for youth were core to his vision for the Africa Region.
First Bank CEO appointed into Bretton Woods Committee
First Bank CEO has been honoured with membership of Bretton Woods Committee (BWC).
Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan, has joined the Bretton Woods Committee (BWC) as a member.
This is a sequel to his invitation to the committee as reported by The Vanguard.
The BWC membership is strictly by invitation and extended to top influencers from every region of the world. Therefore, Dr. Adeduntan’s invitation is in recognition of his remarkable leadership traits and the impact of his organization in driving financial inclusion in Africa.
What they are saying
Commenting on his invitation and acceptance, Dr Adeduntan said, “On behalf of the Board, Management, and Staff of FirstBank, I’m deeply honoured to be recognised as a member of The Bretton Woods Committee.
“In addition, as a contributor, FirstBank remains committed to the goals of the Bretton Woods Committee. Especially at this time when the role played by business and political leaders is critical to exploring efficient ways of deepening collaboration and inclusion across borders, whilst mitigating the adverse effects of the coronavirus on not just the global economy but on other aspects of the livelihood of every individual and household.
Speaking further he said, “I look forward to working with other members of The Bretton Woods Committee, as we continue to build on the successes achieved over the years. With these, we will make the world a better place.”
What you should know
The Bretton Woods Committee was established in 1983 with a goal of creating more awareness for the World Bank, International Monetary Fund, World Trade Organization, and other major development banks. Also, they work towards accelerating economic growth, lessen poverty, and increase financial stability, along with demonstrating the importance of international economic cooperation and fostering collaboration among institutions.
The Committee’s greatest asset is its global membership, with more than 650 members including leaders in business, finance, academia, foreign government, and non-profit organizations from around the world.
African Alliance Insurance Plc appoints Joyce Ojemudia as MD/CEO
Joyce Ojemudia has been appointed, substantive MD/CEO of Africa Alliance Insurance Plc.
Africa Alliance Insurance Plc has announced Mrs. Joyce Ojemudia as its substantive MD/CEO.
The announcement was signed by the company’s Secretary, Mrs. Abisola Akinrin (Pp: TOPE ADEBAYO & CO), and made through a public disclosure issued 15th October 2020, to the Nigerian Stock Exchange (NSE).
The announcement also noted the resignation of Alhaji Aminu Ahmed Nahuche – a former Non-Executive Director and contained information about the appointment of three Non-Executive Directors.
The Company had earlier announced the resignation of Mrs. Funmi Omo as the MD/CEO in a disclosure dated September 3rd, 2020. Following her departure, the company confirmed Mrs. Joyce Ojemudia as the substantive MD/CEO of the Company – replacing Mrs. Olabisi Adekola who served in an acting capacity from the 1st of September 2020.
What you should know
Mrs. Joyce Ojemudia is an accomplished insurance professional and astute manager of resources. She has over twenty years of experience in insurance sales, business development, risk management, claims administration, and reinsurance, with a proven track record of revitalizing businesses and/or departments.
She is a Fellow of the National Institute of Marketing of Nigeria and an Associate of both the Chartered Insurance Institute of Nigeria and the Institute of Chartered Economists of Nigeria. She is also the current President of the Professional Insurance Ladies Association (PILA).
McNichols Consolidated Plc appoints Temitope Abefe Adebayo as CFO
Temitope Abefe Adebayo has been announced as the new CFO of McNichols Consolidated Plc.
McNichols Consolidated Plc has announced the appointment of Mr. Temitope Abefe Adebayo as the new CFO of the company with immediate effect.
The appointment was confirmed in a letter by the company dated 12th October 2020, and available on the NSE website – corporate disclosure. The letter was signed by Mrs. Benedicta Sadare, S.E. Nomuoja & Co. Secretaries, on behalf of McNichols Consolidated Plc.
The announcement noted that Mr. Temitope Adebayo is an associate member of the Institute of Chartered Accountants of Nigeria (ICAN), with about a decade of experience as an accountant. The announcement further submitted that the new CFO has served as an accountant in various companies and industries – including manufacturing, supply, hospitality, external audit, and tax consulting.
What you need to know
McNichols Plc is an indigenous home-grown fast-moving consumer brand food and beverage company. The company is “committed to enhancing the quality of life and contributing to a healthier future of Nigerians from ideas to reality.” The company was incorporated on April 26th, 2004, and commenced operations as a food processing and packaging company in April 2005. It is currently engaged in the production of various food and beverage products that include cube and icing sugar, choco, vanilla, milk, and choco custard.
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The company’s shares were listed on the NSE on 18th December 2009. The current share price is N0.47. The shares’ highest price in 52 weeks was N0.50 and the lowest N0.42. A total volume of 455, 455 units were sold in the last seven day’s trades. The shares outstanding are 326.70 million units.