She has led key strategic and technical financial initiatives optimize the financial capacity of the institution
Kampala, Uganda | RONALD MUSOKE | On October 10, the African Development Bank (AfDB) appointed Hassatou Diop N’sele as Vice President Finance and Chief Financial Officer, a position she has held on an interim basis since November last year.
“I am pleased to appoint Ms. Hassatou Diop N’Sele as Vice President for Finance and Chief Financial Officer,” said Dr. Akinwumi Adesina, President of the AfDB.
“She will lead the bank’s premier finance team, in formulating and executing its finance strategies and transformation agenda, as well as supporting and pursuing its development mandate.”
N’Sele, a Senegalese, is an accomplished professional with over 30 years of banking and finance experience. She led a diverse team of highly experienced professionals, managing over US$33 billion in the bank’s borrowing portfolio, overseeing the group’s investment of over US$25 billion of cash in portfolios multi-currency and supervising its hedging activities, banking relationships and back-office operations. .
N’Sele has led key strategic and technical financial initiatives aimed at optimizing the financial capacity of the institution. It has established the plan for its long-term financial viability. She also played a key role in the design of the special temporary repayable capital increase under the supervision of the President and Vice President Finance.
N’Sele has also provided strategic support to discussions with member countries on the AfDB Group’s General Capital Increases, African Development Fund replenishments and the Multilateral Debt Relief Initiative.
N’Sele has also been credited with spearheading the AfDB Group’s entry into the green bond and social bond markets. Among his key capital markets achievements are award-winning transactions and recognition, including the $3 billion Fight Covid-19 bond launched in 2020.
This has made the AfDB the largest multilateral development bank issuing social bonds to date. Under his leadership, the AfDB Group successfully transitioned from Libor and introduced hybrid capital to its financing toolkit.
She joined the AfDB in 1999 as Principal Treasury Officer. She then rose through the ranks, first holding the position of Principal Treasury Officer. She was later promoted to director of treasury and director of the capital markets and financial operations division.
In 2015, N’Sele became AfDB Treasurer. As Treasurer, she provided strategic leadership to improve the bank’s fundraising, investment and hedging activities. She also successfully led the global expansion of the AfDB’s capital markets activities.
Since 2018 and 2019, N’sele, who held the position of treasurer, provided strategic and technical leadership in discussions on the bank’s financial and risk-taking capacity, and the development of new financial products. She led the design of the AfDB Group’s long-term financial sustainability framework.
“It is an honor and a privilege to serve the powerful and formidable development mandate of the African Development Bank Group. I look forward to continuing to work with my dedicated and talented colleagues at the African Development Bank as we continue to make a difference,” she said after being briefed on her new appointment.