Cairo, 13 May 2022: – African Export-Import Bank (Afreximbank) has announced the appointment of Ms. Marlene Ngoyi as the Chief Executive Officer of the Fund for Export-Development in Africa (FEDA), the Bank’s development-oriented subsidiary. Mr. Emmanuel Assiak has been appointed Chief Investment Officer.
Ms. Ngoyi, who hails from the Democratic Republic of Congo (DRC), has over 17 years of experience. She has worked with social enterprises, private companies, public-private partnerships, and governments across Africa to raise multi-billion-dollar debt, bonds, equity, quasi-equity, and foreign direct investment via bank syndication, capital markets, or private equity transactions to finance strategic investments.
Ms. Ngoyi has also served as the CEO of BGFI Investment Banking where she led the company in raising more than US$4 billion of capital and foreign direct investment for private and sovereign clients. Additionally, she was CEO of a commercial bank in the DRC, for two years, leading a financial turnaround by restoring its financial profitability. Under her leadership, the bank also became one of a select few banks in sub-Saharan Africa to complete and obtain an anti-money laundering 30000 certification for combating money laundering and terrorist financing.
Ms. Ngoyi graduated magna cum laude from Bentley University with a B.Sc. in Economics and Finance and holds a Master in Business Administration from Harvard Business School.
For his part, Mr. Emmanuel Assiak, who has been appointed FEDA’s Chief Investment Officer, joined FEDA in 2019 as a director. As a pioneer staff, he played a key role in setting up and operationalising the organization. This includes putting in place the required service infrastructure (people, processes and systems) and leading the execution of FEDA’s first four equity deals and commitments in other strategic investments and partnerships amounting to about US$300 million. In his over 15 years of private equity experience, Mr. Assiak has played active roles in raising and deploying over US$1.5 billion in funds and equity transactions.
Mr. Assiak holds a First-Class Bachelor’s degree and a Masters in Economics from the University of Cross River State and University of Lagos, Nigeria respectively. He also holds an MBA with Distinction from Manchester Business School, United Kingdom. He is a Certified Accountant and an alumnus of the Coller Institute of Private Equity, London Business School.
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2021, the Bank’s total assets and guarantees stood at US$24.8 billion, and its shareholder funds amounted to US$4 billion. Afreximbank disbursed more than US$51 billion between 2016 and 2021. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.
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