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eyes historic $50b in investments Makhtar Diop made history as the first African to assume the role of managing director at the International Finance Corporation (IFC), the private sector arm of the World Bank. His previous role was as the World Bank Vice President for Infrastructure, a testament to his expertise and leadership in the field. Diop’s journey is a unique blend of finance and the arts.
He served as the minister of finance in Senegal, advocating for removing taxes on musical instruments and empowering artists with copyrights. A true art enthusiast, he even taught himself to play the bass guitar while studying in Paris, a testament to his passion and dedication. Diop is a trained economist who spent substantial time in his career in the banking sector before serving as minister of finance in Senegal from April 2000 to May 2001.
He later joined the International Monetary Fund (IMF) and the World Bank. He holds degrees in economics from the Universities of Warwick and Nottingham in England. IFC is the world’s largest private-sector development organisation.
It combines finance, experience, and influence to build markets and opportunities in developing countries. In this interview with Eniola Olatunji, banking and finance reporter at BusinessDay, Diop discusses IFC’s partnership with BUA on a $500 million cement factory in Sokoto, Nigeria, increased investment in commercial agriculture, and the commitment to support Nigeria’s film, fashion, music, and creat.
