The African Development Bank Group appoints Wale Shonibare as Director for Energy Financial Solutions, Policy and Regulation

16/01/2017
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The African Development Bank is pleased to announce the appointment of Mr. Wale Shonibare as the Director – Energy Financial Solutions, Policy and Regulation with effect from 9th January 2017.

He brings with him over 25 years’ experience in Debt and Equity Capital Markets, Mergers and Acquisitions and Project Finance spanning Asia, Europe, Middle East and Africa. Prior to establishing Shonibare Consulting, he was the Deputy Group CEO/Managing Director, Investment Banking at United Capital Plc (former UBA Capital Plc) in Lagos, Nigeria. He has held previous senior level executive positions, including Managing Director and Head of Infrastructure, Africa, Middle East and New Markets at Renaissance Capital in Dubai, Director KPMG in Dubai and Associate Director KPMG, London.

Shonibare’s recent African experience includes raising over $450 million for investors in power generation assets in Nigeria, several sub-sovereign and corporate bonds, project finance and mergers and acquisitions transactions across various sectors, including power generation and distribution, upstream oil and gas, Compressed Natural Gas, Liquefied Natural Gas, fertilizer plants, hydropower power projects, toll roads, light and heavy rail, ports, real estate, healthcare, hospitality and specialized economic zones. Since 2009, teams led by Shonibare have successfully raised over $8 billion equivalent in local and foreign currencies for governments and corporates in Africa.

Shonibare has served on several industry panels, including Nigeria’s Securities and Exchange Commission Committee on the development of the 10-year Capital Markets’ Masterplan and the Ministerial Committee for the development of privately financed hospitals in Nigeria.

Shonibare is currently the Managing Director and CEO, of Shonibare Consulting FZE, Dubai, United Arab Emirates (UAE). He is Nigerian and holds an MBA from Imperial College, University of London, as well as a Bachelor’s Degree in Civil Engineering from University of Glasgow.

The President of the African Development Bank, Dr. Akinwumi Adesina, said of the appointment, “I am delighted Wale is joining the Bank. He brings world-class expertise to the Bank on structuring of financial solutions all across the wide spectrum of the energy sector in several countries. Wale’s extensive knowledge of infrastructure financing and policy and regulatory environments will be very helpful as the Bank launches its engagements with African countries and investors to accelerate investments into the energy sector”.