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Africa50, the pan-African infrastructure investment platform, has announced Cheick-Oumar Sylla as Chief Executive Officer of its Project Development Fund.
The leadership change comes after the continental infrastructure finance firm had appointed Djalal Khimdjee as CEO of the Africa50 Principal Investment Fund.
“Project Development is the engine of Africa50’s model. It is how we turn infrastructure needs into bankable opportunities. As the organisation enters its next phase of growth, I am honoured to step into this role,” Sylla said.
Africa50’s Project Development Fund exists to build a pipeline of investment-ready infrastructure projects across the continent. Since its inception, the fund has catalysed $370 million in third-party equity and quasi-equity commitments and has originated and screened 121 project opportunities.
The fund prioritises projects in shareholder countries, works to secure government backing that reduces implementation risk, typically takes a minority sponsor position alongside strong co-developers, and partners with institutions such as the African Development Bank on project preparation, guarantees, and funding.
Sylla, who is no stranger to infrastructure investment and has leadership experience across the public and private sector, arrives to build innovative and sustainable infrastructure projects that support the continent’s growth.
He brings to the helm more than three decades of experience across infrastructure investment, project development, development finance, and private-sector growth spanning Africa, the Middle East, and Europe.
Before joining Africa50, he served as the Regional Director for North Africa and the Horn of Africa at the International Finance Corporation (IFC), where he oversaw the institution’s investment and advisory work across a wide range of countries.
Earlier in his IFC career, he held the roles of Principal Investment Officer for Africa Infrastructure and Natural Resources and Regional Manager for the Horn of Africa, helping expand the IFC’s investment pipeline in some of the continent’s most difficult markets.
He has also held senior leadership roles at ContourGlobal, where he directed the company’s Africa growth strategy, and at the Islamic Corporation for the Development of the Private Sector (ICD), in addition to stints at several African infrastructure, corporate finance, and business development firms.
Alain Ebobissé, Group Chief Executive Officer, Africa50, said, “Cheick-Oumar brings the depth of project development, investment and public-private sector experience needed to help us scale this capability. His leadership will be instrumental as we accelerate project development from concept to bankability and ultimately bring more investable infrastructure opportunities to market.”
The appointment comes as Africa50 advances one of its flagship clean-energy vehicles, the Distributed Renewable Energy (DRE) Fund, sponsored by the International Solar Alliance (ISA), the entity behind the Africa Solar Facility. The ASF is intended to mobilise concessional, institutional, and private capital to accelerate distributed renewable energy investment across Africa and to build bankable project pipelines that unlock financing for clean-energy solutions.
Africa50 has now signed the Limited Partnership Agreement for the DRE Fund, locking in a total commitment of $71 million from ISA, the Nigeria Sovereign Investment Authority (NSIA), and the World Bank Group.
The fund is targeting an eventual size of $200 million and will provide equity to distributed renewable energy companies operating across a range of sub-sectors, including commercial and industrial (C&I) solar, clean cooking, e-mobility, mini-grids, standalone solar systems, and value-chain development.
The vehicle is designed to scale private-sector-led deployment of distributed renewable energy while opening the door for institutional and private capital to enter the sector.
Alongside the $71 million commitment, Africa50 has announced the Nigeria Sovereign Investment Authority (NSIA)’s signed commitment documents for the ASF, a step toward the facility’s first close and part of the broader Distributed Renewable Energy (DRE) Africa Platform.
With all African governments as shareholders, Africa50 aims to become a leading infrastructure investment platform by 2030, accelerating private and public-private infrastructure delivery while mobilising capital at scale. Sylla’s appointment will support that ambition as Africa50 works to advance ASF and convert more of the continent’s infrastructure priorities into investable projects.
