“I’m delighted to take up my new role and I’m keen to increase the IFC’s support for these countries and contribute to the development of the private sector”. These are the words of Josiane Kwenda, who is taking up her new post in Abidjan, Ivory Coast. The graduate of Georgetown University in the United States of America has just been appointed regional representative of the International Finance Corporation (IFC) for Ivory Coast, Benin, Guinea and Togo.
“Increased private investment in key sectors such as agribusiness, green energy and the digital economy can help build stronger, more sustainable economies in the region,” says Josiane Kwenda. This underlines the importance of her mission in these West African countries.
Delays in implementing the “Scaling Solar” programme
In Ivory Coast, Benin, Guinea and Togo, the World Bank Group’s private sector financing arm is working to support agri-food value chains, bridge infrastructure and connectivity gaps, promote digital inclusion, expand affordable housing, strengthen the health sector, boost manufacturing and provide financing for micro and small businesses.
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In the energy sector, Josiance Kwenda will certainly have to look at the “Scaling Solar” programme, which is stagnating in these various countries, even though the IFC initiated it to accelerate the development of countries’ installed electricity capacity by focusing on solar energy. In Togo, for example, the programme was launched in 2019 with the aim of producing between 60 and 90 MW of photovoltaic solar energy. Since then, none of the solar power plants in Sokodé and Kara have been commissioned, despite the launch of a call for tenders in 2020, and the Togolese government’s announcement to speed up the implementation of the two projects in 2021.
There has also been a delay in Ivory Coast, where the government and the IFC have been planning to build the Laboa and Touba solar photovoltaic power plants (60 MW) since 2019. The results of the pre-qualifications were unveiled in November 2021, with 10 companies in the running. But so far, no solar power plant has been commissioned. Josiance Kwenda is therefore expected to address these specific issues.
Experience at the service of the private sector
Having been with the IFC for 13 years, the Cameroonian-born American will be able to draw on her experience and the support of her superiors, in particular the IFC’s Regional Director for West Africa. “Josiane’s extensive experience across multiple sectors and regions, as well as her personal skills, will serve her well in her new role. I welcome her to this important position and look forward to working with her to help create more opportunities and support economic development in the region,” said Olivier Buyoya.
Before joining Abidjan, Josiance Kwenda was IFC’s regional representative for Senegal, Mauritania, Cape Verde, Guinea-Bissau and Gambia, “countries where she contributed to the development of a pipeline of projects and the strong growth of IFC’s activities and portfolio”, says the World Bank Group’s private sector financing arm. Josiance Kwenda began her career in finance at Citigroup in London, UK, where she worked in the investment banking and corporate banking divisions.
Jean Marie Takouleu