The African Development Bank (AfDB) has appointed Mr Richard Kwaku Ofori-Mante as the Acting Director of the Agricultural Finance and Rural Development Department of the Bank.
A statement issued in Accra confirming his appointment, said in his new capacity, he would lead and manage the origination, structuring and execution of agribusiness transactions for the Bank’s Non-Sovereign guaranteed operations.
Prior to the appointment, Mr Ofori-Mante, a Ghanaian, was Manager of the Agriculture and Rural Finance Division, a position he has held since November 2017.
Mr Ofori-Mante brought over 22 years of experience in debt capital markets, project, corporate and structured finance, with a demonstrated record of utilising innovative financial structures, risk mitigating solutions and credit enhancing instruments to mobilise capital for various transformative projects.
Mr Ofori-Mante’s rich experience includes working with private sector and governments in structuring and implementation of corporate and project finance debt transactions, equity investments, guarantees, risk management products and syndicated lending amongst others.
Mr Ofori-Mante has also lent his expertise to cross border multi-jurisdictional transactions, most recently in the agribusiness sector.
Mr Ofori-Mante joined the Bank in 2010 as a Principal Financial Analyst and in 2012, he was appointed Chief Financial Analyst in the Financial Technical Services Division of the Treasury Department, (now the Client Solutions Division of the Syndications, Co- financing and Client Solutions Department).
Contribution of Mr Ofori-Mante Innovative Transactions in African Markets
The statement indicated that he contributed to some of the most innovative transactions in African markets, providing solutions to projects and clients.
These include the development of local currency funding strategies for projects utilising domestic bond issuance, cross currency swaps or synthetic derivative structures.
Mr Ofori-Mante also developed and implemented innovative financial solutions, developed new products by mixing and matching instruments of the Bank, deployed a range of Bank products designed not only to attract financing from the private sector at the best available terms and conditions for the benefit of Bank’s clients, but also to help manage vulnerability to market and political related risks.
Prior to joining the African Development Bank Group in 2010, Mr Ofori-Mante was a Manager in the Financial Transactions Group of Deloitte Financial Advisory Services in Chicago, USA from 2004 to 2010.
He has a Master of Business Administration degree (MBA, Finance option), from the Olin School of Business, Washington University in Saint Louis, USA, and a Bachelor of Science (Hons) degree in Mechanical Engineering University from the University of Science and Technology, Kumasi, Ghana. He is also a Chartered Financial Analyst.
Mr. Ofori- Mante in accepting his new found position, expressed his appreciation to the President of he bank. He thus, said, “I am grateful to President Adesina and humbled by his confidence in appointing me into this position”.
Mr Ofori-Mante noted that he is aware of the significant responsibilities that come with the role and committed to working tirelessly and collaboratively with his colleagues and Senior Management to deliver on the Bank’s Agricultural Transformation Agenda, as well as its mandate and mission.