CDC, the UK’s development finance institution, is making a new appointment this week as it recruits Dolika Banda to be its Regional Director for Africa.
Dolika joins CDC from the International Finance Corporation (IFC), where she worked for 16 years, most recently as its Director, Financial Markets, with full managerial responsibility for the IFC’s financial markets activities across sub-Saharan Africa, Latin America and the Caribbean, including a portfolio of over US$5bn and 250 projects. She held a number of senior roles within the IFC, many focused on Africa, and began her career with Citibank and then Barclays in Zambia.
The role of Regional Director is a new one for CDC and is intended to support the organisation’s recent strategic decision to invest equity and debt directly in businesses in Africa and South Asia alongside the existing fund selection model. In her role as Regional Director Dolika will work with CDC’s investment teams to ensure that CDC’s capital is being invested to meet the needs of the African market. She will be based in Johannesburg and Lusaka.
Diana Noble, CDC’s Chief Executive said:
“We’re very fortunate to have Dolika join CDC. She is a hugely experienced investor who really understands the needs and opportunities facing African companies, particularly at this time when CDC is actively focusing its efforts on supporting the businesses that can create jobs and opportunities across the continent.
“Given Africa’s size and CDC’s growing ambition, we expect to recruit two or three more Regional Directors to join Dolika. She will In the meantime cover the whole region for us and work alongside our London-based investment teams to support them with her local knowledge, guidance and strong relationships.”
Dolika joined CDC officially on July 1.