The African Development Bank is pleased to announce the appointment of Mr. Charles O. Boamah as Senior Vice-President of the African Development Bank Group, effective immediately.
Having served as Vice-President and Chief Financial Officer of the African Development Bank for the past six years and as Acting First Vice-President and Chief Operating Officer, Mr. Charles Boamah, comes into the new role with solid first-hand understanding and knowledge of the finances, operations and administration of the African Development Bank. Charles is a globally respected executive with over 35 years of successively challenging leadership experiences in and outside of Africa.
A people-centered and results-oriented leader, Mr. Charles Boamah has led and championed several major change initiatives at the Bank, including reorganizations, re-engineering of business process for greater efficiency and increased decentralization of the Bank's activities. He brings to the new role first-hand experience in business continuity planning and execution, having played a leading role in the successful temporary relocation of the Bank to Tunis in 2003 and the equally successful return to Abidjan in 2015.
Over the past six years, Mr. Charles Boamah has successfully led major resource mobilization drives for the Bank, including the most recent replenishment of the African Development Fund, the establishment in 2015 of the Africa Growing Together Fund, a USD 2 billion co-financing facility, successful negotiation of a USD 3 billion co-financing facility under the Enhanced Private Sector Assistance Facility for Africa, among others. He led the task force for the establishment of Africa50, an innovative vehicle for accelerated infrastructure delivery in Africa.
M. Charles Boamah currently chairs the Governing Council of the African Legal Support Facility and the Steering Committee of the African Financial Markets Initiative. He also serves on the Board of Directors of Africa50 and the Board of Governors of the Eastern and Southern African Trade and Development (PTA) Bank. He previously served on the Board of Directors of the African Export Import Bank (Afreximbank), the Audit Advisory Committee of UNICEF and a couple of Global Action Committees of the World Economic Forum.
He joined the African Development Bank in 1996 from Wells Fargo Bank (after the merger with First Interstate Bank where he previously worked), where as Vice-President of Accounting Policy and Research he provided guidance to deal teams in the structuring of complex transactions, among other responsibilities.
Mr. Charles Boamah started his professional career with Coopers and Lybrand (now PricewaterhouseCoopers - PwC) in Accra (1978 to 1980) and in Los Angeles (1982-1985), where he provided assurance as well as mergers and acquisition support services to companies in banking, insurance, manufacturing and retail industries. His portfolio of clients also included municipalities and several state-owned enterprises.
Mr. Charles Boamah holds a B.Sc. (First Class Honors) in Business Administration from the University of Ghana, Legon and a Masters in Business Administration (MBA) in Finance from the University of California, Los Angeles, USA. He is also a Certified Public Accountant (CPA) from the State of California, USA.
The President of the African Development Bank, Dr. Akinwumi Adesina, said of the appointment, "Charles Boamah brings extensive development finance experience and a solid understanding of the Bank's finance and operations. He has done a remarkable job as Vice-President for Finance. As he takes on the role of Senior Vice-President, I am confident the Senior Leadership Team and our staff will continue the positive trajectory of our institutional reforms to accelerate the delivery of the High 5 priorities of the Bank".
