Africa50 appoints Papa Demba Diallo as Managing Director, Project Development

25 April 2023

Casablanca, 25 April 2023 - Africa50, the pan-African infrastructure investment platform, is pleased to announce the appointment of Papa Demba Diallo as Managing Director, Project Development.

Papa Demba Diallo, a Senegalese national joins Africa50 with over 20 years of experience in the infrastructure investment space. He is currently serving as CEO of Senegalese Sovereign Wealth Fund FONSIS, after being Executive Director from 2014, overseeing the ICT, Health, Infrastructure, Transport and Services Units. Over the course of his tenure at FONSIS, Mr. Diallo played a pivotal role in developing and executing the fund’s long-term growth agenda, and investment strategy.

Mr. Diallo is a seasoned investor and project developer who has held several leadership positions throughout his career, including as Executive Vice-President at Sonatel (Orange Senegal) and CEO of Sonatel Business Solutions, as well as serving in senior roles at San Francisco-based IT company CoSine Communications, and at British Telecom.

I am delighted to welcome Demba to the Africa50 Group. He brings in-depth expertise in investment and fund management within the infrastructure space in Africa. I am confident that his leadership combined with his track-record in developing bankable projects, will be a great asset to ensure the continued growth of Africa50 Group’s project development business, which is a key pillar of the group’s strategy.” commented Alain Ebobissé, CEO of Africa50.

I am thrilled to have been appointed to lead the Project Development fund of Africa50. I look forward to joining a talented team and contributing to the growth of the organization’s impressive investment portfolio, which is making a difference on the continent”, said Papa Demba Diallo about his appointment.

Diallo holds a Bachelor of Science in Business Administration from University Paris-IX Dauphine in France, and two Masters of Science (MSc) in Telecommunications and Information Systems Engineering and in Computer and Communications Networks from Telecom Sud Paris in France.



About Africa50:

The Africa50 Group was established by African governments and the African Development Bank to help bridge Africa’s infrastructure funding gap by facilitating project development, mobilizing public and private sector finance, and investing in infrastructure on the continent.

The Africa50 Group focuses on medium- to large-scale projects that have development impact while offering an appropriate risk-adjusted return to investors. Bringing project development and financing under one platform, Africa50 seeks to provide support at every stage of the project cycle. The organization prioritizes investments in power, transport, ICT, midstream gas, healthcare infrastructure, education and fintech.

In 6 years, the Africa50 Group has successfully developed a diversified investment and development portfolio comprising a total of 20 projects across 16 African countries. The Group currently has 34 shareholders, comprised of 31 African countries, the Central Bank of West African States (BCEAO), the Bank Al-Maghrib, and the African Development Bank. For more information, visit:

Media Contacts:

Saran Koly, Director of Communications,

Category: Press Release