African Development Bank Group Appoints Ahmed Rashad Attout Acting Director of Financial Sector Development Department | African Development Bank

The African Development Bank has appointed Ahmed Rashad Attout as Acting Director of the Development Department of the Financial Sector with effect from 1 December 2022.

A seasoned and result-oriented banker, Attout is of Egyptian nationality, has over 23 years of banking experience in Africa and the Middle East and is currently a manager of the Capital Markets Development Division. He has a special focus on capital markets, state and corporate finance.

As a key member of the Financial Sector Development team responsible for establishing client-facing capital markets operations within the Bank, Attout has been directly involved in the delivery and execution of key capital markets funded and unfunded operations in excess of $4.5 billion in more than 35 African countries. He has led several sovereign and non-sovereign capital market transactions and has been involved in the creation and structuring of several liquidity and mortgage refinancing programs to help the continent address its housing challenges.

Attout led the operationalization of the bank’s flagship Capital Markets Development Trust Fund (CMDTF), which helps African countries develop their capital markets through grants. He also oversees the implementation and launch of the Africa Exchange Linkage Project (AELP), which connects and integrates Africa’s exchanges.

Mr. Attout joined the African Development Bank Group in January 2010 as a Senior Financial Analyst in the Infrastructure Complex. He was appointed Senior Capital Markets Officer in November 2013 and Principal Financial Market Officer in January 2017. Attout was later named Chief Capital Markets Officer, before becoming Manager of the Capital Markets Development Division in January 2021.

Prior to joining the Bank in 2010, Attout, who holds an MSc in Management of International Development from the University of Turin, Italy, worked for Société General Bank (2000-2004), Arab Bank for Economic Development in Africa (2004- 2008), and Audi Bank in Egypt (2008-2010).

Commenting on his appointment, Mr. Attout said: “I would like to thank President Adesina for this appointment, and I am deeply humbled and honored for the confidence placed in Dr. Adesina has put in me to fulfill this crucial role. I look forward to working with the finance industry team and senior leadership of the bank to deliver the right quantum and expected impact for the bank and Africa.”

Dr. Akinwumi Adesina, President of the African Development Bank Group, said: “I am pleased to appoint Mr. Ahmed Rashad Attout as Acting Director of the Financial Industry Development Department. Ahmed is an experienced and recognized expert in the development of the African financial sector. He will continue to lead the finance sector team and support the Bank’s flagship operations and the transformative Agenda in Africa.”