Hassatou Diop N’sele becomes AfDB’s Vice President

She has led key strategic and technical financial initiatives to optimize the institution’s financial capacity

Kampala, Uganda | RONALD MUSOKE | The African Development Bank (AfDB) on Oct.10 appointed Hassatou Diop N’sele as the substantive Vice President for Finance and Chief Financial Officer— a position she has been holding in an acting capacity since November, last year.

“I am pleased to appoint Mrs. Hassatou Diop N’Sele as Vice-President for Finance and Chief Financial Officer,” said Dr. Akinwumi Adesina, the president of the AfDB.

“She will provide leadership for the top-rate finance team at the bank, in the formulation and implementation of its financial strategies and transformation agenda, and in support and furtherance of its development mandate.”

N’Sele, a Senegalese, is an accomplished professional with over 30 years of banking and finance experience. She has led a diverse team of highly seasoned professionals, managing over US$33 billion under the bank’s borrowing portfolio, overseeing the group’s investment of over US$25 billion liquidity in multicurrency portfolios, and supervising its hedging activities, banking relationships, and back-office operations.

N’Sele has led key strategic and technical financial initiatives geared toward optimizing the institution’s financial capacity. She established the blueprint for its long-term financial sustainability. She also played a key role in the design of the Special Temporary Callable Capital Increase under the oversight of the president and vice-president for finance.

N’Sele also provided strategic support to discussions with member countries on general capital increases for the AfDB Group, replenishments of the African Development Fund, and the Multilateral Debt Relief Initiative.

N’Sele has also been credited with spearheading the AfDB Group’s entry into the green bonds and social bonds markets. Among her key achievements in capital markets are award winning transactions and recognition, including the US$3 billion Fight Covid-19 bond launched in 2020.

This made the AfDB the largest multilateral development bank issuer of social bonds to date. Under her leadership, the AfDB Group successfully transitioned from Libor and introduced hybrid capital in its financing toolkit.

She joined AfDB in 1999 as Senior Treasury Officer. She then moved up the ranks, first holding the position of Principal Treasury Officer. She later got promoted to Chief Treasury Officer and Manager of the Capital Markets and Financial Operations Division.

In 2015, N’Sele became AfDB’s Treasurer. As treasurer, she provided strategic leadership to enhance the bank’s fund raising, investments and hedging activities. She also led the successful global expansion of the AfDB’s capital markets activities.

Since 2018 and 2019, N’sele who was working as treasurer provided strategic and technical leadership in discussions on the bank’s financial and risk bearing capacity, and the development of new financial products. She drove the design of the framework for the long-term financial sustainability of the AfDB Group.

“It is an honour and a privilege to serve the African Development Bank Group’s powerful and formidable development mandate. I welcome the opportunity to continue working with my dedicated and talented colleagues at the African Development Bank as we keep making a difference,” she said upon being notified of her new appointment.

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