AfDB Group Appoints Ahmed Rashad Attout As Acting Director Of Financial Sector Development Department

The African Development Bank has appointed Ahmed Rashad Attout as Acting Director, Financial Sector Development Department, effective 1st December 2022.

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

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

Attout led the operationalization of the Bank’s flagship Capital Markets Development Trust Fund (CMDTF), which assists African countries to develop their capital markets through grant funding. He also oversaw the implementation and launch of the Africa Exchange Linkage Project (AELP), which links and integrates Africa’s stock 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 appointed 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), the Arab Bank for Economic Development in Africa (2004-2008), and Banque Audi 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 honoured for the confidence that Dr. Adesina has placed in me to serve in this critical role. I look forward to working with the Financial Sector team, and the Bank’s Senior leadership to deliver the right quantum, and the expected impact for the Bank and Africa”.

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