The General Manager of the Générale de Banque de Mauritanie and the Chairman of the audit committee of Atlas Mara have been appointed alongside a partner from EY and a partner from the venture capitalist Idinvest (Eurazeo).
On June 24, a Presidential Decree signed by Ismail Omar Guelleh appointed Leila Bouamatou, General Manager of the Générale de Banque de Mauritanie (GBM), independent member of the board of the new Sovereign Wealth Fund of Djibouti, whose creation was ratified by a law of March 29.
Several names had been submitted to the presidency to arbitration, "after a fairly precise process" by the investment bank Southbridge, founded by former Beninese Prime Minister Lionel Zinsou and former African Development Bank (AfDB) President Donald Kaberuka. "Leila Bouamatou will bring her expertise in commercial banking," Southbridge stated. Southbridge is an advisor for the small republic in the Horn of Africa in setting up this fund, which is expected to increase its capital to 1.5 billion euros over 10 years.
Chaired by the Economic Advisor to the President, Mr. Mohamed Sikieh Kayad, a former Francophone Africa Regional Representative at the World Bank, the fund recruited Mamadou Mbaye as Managing Director. The Senegalese was the former vice-President of Fonsis, the Senegalese sovereign wealth fund, as revealed exclusively by Jeune Afrique Business+ on June 25.
Alongside the Chairman of Great Horn Investment Holding (GHIH) and the Djibouti Ports and Free Zones Authority (DPFZA), Aboubaker Omar Hadi,the ministers of Economy, Ilyas Moussa Dawaleh, and Budget, Abdoulkarim Aden Cher, and the Governor of the Central Bank, Ahmed Osman Ali, the following two people also joined the Board of Directors: the Franco-Beninese Hermin Anicet Hologan a partner at EY, and the Frenchman Sylvain Erit Makaya, Managing Partner of the venture capitalist Idinvest Partners (taken over by Eurazeo in 2018), which specializes in SME financing and private equity, and manages €8 billion in assets. While his name does not yet appear in the decree – which is yet to be amended – the Beninese Amadou Raimi, Chairman of the Audit Committee of Atlas Mara, former Country Chairman (for France) and VP Global of Deloitte, who was appointed in 2016 Chairman of the Board of Directors of the West African private equity firm Cauris Management, also becomes, according to our information, a Board Member.
As part of President Guelleh's Vision 2035 plan, the fund intends to repatriate the country's savings, which are currently entirely invested abroad, and expects to replicate the models of Dubai, Singapore and Malaysia’s funds. Soon, some of these leaders will be contacted, such as the Cameroonian Albert Zeufack, the World Bank's Chief Economist for Africa, who headed the sovereign wealth fund in Kuala Lumpur for four years.
Read the full article on the jeuneafriquebusinessplus website : https://www.jeuneafriquebusinessplus.com/fr/804860/leila-bouamatou-rejoint-amadou-raimi-comme-administratrice-du-fonds-souverain-de-djibouti/