Our Governance Structure

The African Development Bank Group (AfDB) is a multilateral development finance institution. Founded in 1964, the AfDB’s mission is to fight poverty and improve living conditions on the continent through promoting the investment of public and private capital in projects and programs that are likely to contribute to the economic and social development of the region.

The Climate Investment Funds (CIF) are financing instruments designed to help developing countries pilot low-emission and climate-resilient development. Launched in 2008, CIF provides large-scale, low-cost, and long-term financing to empower transformations in clean technology, energy access, climate resilience, and sustainable forests. CIF has over $12 billion in pledged capital, aimed at unlocking additional financing from public and private sectors to maximise impact. CIF invested through the AfDB.

KFW supports sustainable improvement in economic, social, ecological living and business conditions worldwide in the areas of small and medium-sized enterprises, entrepreneurship, environmental protection, housing, infrastructure, education finance, project and export finance, and development cooperation.

The European Fund for Sustainable Development Plus (EFSD+) is one of the financing tools of Global Gateway, promoting sustainable investments in the European Union’s (EU) partner countries. Offering a variety of risk-sharing instruments of up to €40 billion, the EFSD+ aims to mobilise up to €135 billion of public and private financing to help partner countries achieve the Sustainable Development Goals (SDGs). The European Commission invested through the AfDB.

Norfund is the Norwegian Investment Fund for developing countries, owned and funded by the Norwegian Government. Its mission is to create jobs and improve lives by investing in businesses that drive sustainable development. Norfund provides equity and other risk capital in four main areas: renewable energy, financial inclusion, green infrastructure, and scalable enterprises. The primary focus is on Sub-Saharan Africa, though it also invests in select countries in Southeast Asia and Central America. 

IFC is a member of the World Bank Group and is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, IFC leverages capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity.

DEG, a subsidiary of KfW, supports private enterprises in developing and emerging markets, driving sustainable growth and job creation. Since 1962, it has financed businesses that promote renewable energy and align with the Sustainable Development Goals (SDGs), with a commitment of over €1.5 billion annually​. 

The Oesterreichische Entwicklungsbank (OeEB) is the official development bank of the Republic of Austria and subsidiary of Oesterreichische Kontrollbank (OeKB). Its mission is to finance sustainable private-sector projects in developing and emerging markets that are both economically viable and contribute to development policy. The OeEB's strategic focus for 2024-2028 includes green finance, support for micro, small and medium-sized enterprises (MSMEs), financial inclusion, and private infrastructure. It provides long-term financing and technical assistance, aiming to create jobs, improve access to infrastructure, and support the supply of renewable energy.

Established in 1991, the Global Environment Facility (GEF) is a family of funds dedicated to confronting the planet's most urgent environmental challenges. It provides grants and blended finance to developing countries for sustainability projects, and has provided over $26 billion in finance since its inception.

Cygnum Capital Group is the appointed Fund Manager to FEI. Cygnum Capital Group offers unrivalled experience in African debt capital markets with substantive coverage across the continent. Cygnum Capital Group is an investment bank, based in London and Nairobi, bringing capital markets expertise to development finance initiatives in Africa and other frontier markets. Authorized and regulated by the Financial Conduct Authority (FCA), Cygnum Capital Groups experience includes fund management, capital markets and financial advisory work across financial inclusion, renewable energy, agriculture and health sectors. Cygnum Capital Group is a member of the Global Impact Investing Network (GIIN). The GIIN is the leading nonprofit dedicated to increasing the scale and effectiveness of impact investing. Impact investments are made into companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return.

Clemens is CEO and co-founder of Cygnum Capital Group (formerly Lion’s Head Group). He is responsible for the implementation of Cygnum Capital’s overall strategy and chairs the firm’s Operating Committee. Over the past 15 years Clemens has been involved in advisory activities across a number of sectors, including financial services, renewable energy and agriculture, and played a significant role in setting up Cygnum Capital asset management business in the UK and NK. Prior to setting up Cygnum Capital, Clemens spent 13 years in investment banking, first at Morgan Stanley and then at Goldman Sachs. He worked in London, Singapore and New York, doing M&A before focusing on the energy sector where he was responsible for executing a number of large structured and commodity-backed financings. Clemens holds a Masters Degree in Computer Science from the Swiss Federal Institute of Technology and a Masters in Business Administration from INSEAD, Fontainebleau.

Dr. Martin Kimmig is the Chief Investment Officer of Cygnum Capital's asset management business. Prior to this, he served as Chief Risk Officer for the Asian Infrastructure Investment Bank (AIIB) from September 2016 to June 2022. In heading the AIIB’s risk function, he oversaw the bank’s risk capital allocation and utilization, the management of financial and non-financial risk as well as the bank’s compliance and integrity function. He joined the AIIB from The Rock Creek Group where he held the position of a Managing Director covering emerging market equities. Prior, he spent a 24-year career at the World Bank Group in particular the International Finance Corporation where he held leadership positions in both investment operations and risk management. Martin Kimmig holds a PhD in Economics from the University of Freiburg and a CFA designation.

Tony Marsh is an experienced senior executive with a track record of success investing debt and equity into (particularly renewable) power projects in many countries throughout Africa, Europe and Asia. The most recent full-time role was CEO of a Fund Manager with AUM of $1.1bn, utilising European government aid money (including UK, Switzerland, Sweden, Netherlands and Germany) to invest (usually project finance) debt in infrastructure in Africa and SE Asia to achieve both financial and developmental returns. Prior to that, he set up the UK government owned, and world’s first, Green Investment Bank, being Chair of the Investment Committee, building a business of 90 people and commitments of over £800m to renewable projects in 2 years. Currently is an independent credit committee member for PIDG debt/equity and technical assistance infrastructure funds investing in Africa and Asia; and is an independent member of an investment committee for a Baltic Infrastructure Fund. He holds a BSc in Banking and Finance from Loughborough University of Technology.

Saran Kebet-Koulibaly is a seasoned Investment professional with over 30 years of experience of investing in multiple sectors in emerging and developing markets, including Africa, the Middle East, the former CIS transition economies, Latin America, and East and South Asia. She held very senior positions at the International Finance Corporation (IFC) as Vice President of Portfolio Management, responsible for its $50 billion equity and debt portfolio and, prior to that, as Vice President for Corporate Risk and Sustainability and Chief Risk Officer. During her tenure at IFC, Ms. Kebet-Koulibaly also held various positions with direct responsibility for investment selection, structuring and management including as Director for West and Central Africa (2013-2015), based in Dakar, Senegal, Director of Special Operations (2010-2013), with responsibility for managing a $3.8 billion portfolio of troubled and distressed assets, Senior Manager for Global manufacturing (2007-2010) and Associate director for IFC’s Brazil operations based in São Paulo (2004-2006). Since her departure from IFC, Ms. Kebet-Koulibaly, a national of Côte d’Ivoire, has engaged with corporate board and investment committee memberships. She holds an MA in Economics from the University of California and a CFA designation.

Stella Ojekwe-Onyejeli is an experienced C-Suite executive with 30 years of comprehensive experience leading diverse teams, developing & growing businesses, and delivering value within dynamic high-pressure environments. She has practical knowledge of infrastructure project development and financing in Africa, with sound understanding of long-term investment financing structures. She has a deep financial, risk management and governance background, along with extensive connections with international private and sovereign asset owners & managers. She holds a BSc in Chemistry from the University of Lagos Nigeria and an MBA from Cranfield University, UK.