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Afreximbank appoints Marlene Ngoyi as new CEO of FEDA

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Afreximbank appointments Ms. Marlene Ngoyi

The African Export-Import Bank (Afreximbank) has announced the appointment of Ms. Marlene Ngoyi as the Chief Executive Officer (CEO) of the bank’s development-oriented subsidiary, Fund for Export-Development in Africa (FEDA).

The pan-African multilateral financial institution has also appointed Mr. Emmanuel Assiak as the Chief Investment Officer for FEDA.

This disclosure is contained in a statement signed by Afreximbank’s Media Contact, Amadou Sall, on Friday in Abuja and can be seen on the bank’s website.

Profile of the new FEDA CEO 

Sall, in the statement, said that Ngoyi, who hails from the Democratic Republic of Congo (DRC), has more than 17 years of experience and has worked with social enterprises, private companies, public-private partnerships, and governments across Africa.

  • This has helped her 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.
  • It stated that Ngoyi also served as the CEO of BGFI Investment Banking, where she led the company in raising more than $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. It also stated that under her leadership, the bank also became one of a select few banks in sub-Saharan Africa to complete and obtain anti-money laundering (30,000) certification for combating money laundering and terrorist financing.
  • Ngoyi graduated Magna cum Laude from Bentley University with a B.Sc. Economics and Finance and holds a Master in Business Administration from Harvard Business School.

Profile of the new FEDA Chief Investment Officer 

Sall said Assiak, appointed as FEDA’s Chief Investment Officer, joined FEDA in 2019 as a director.

He said, “As a pioneer staff, he played a key role in setting up and operationalizing the organisation. 

“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 more than 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.’’ 

Sall said Assiak holds a First-Class Bachelor’s degree and a Masters’s in Economics from the University of Cross River State and the 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.

What you should know 

  • Afreximbank is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. It 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 the African Union adopted (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA.