Capital with Purpose: Mobilizing Capital for Scalable, Sustainable, and Measurable Impact in Africa
IESE Barcelona · May 28-29, 2026
Introduction
In a rapidly evolving global investment landscape, Africa stands out as a frontier of both opportunity and impact. Institutional investors increasingly recognize that the continent’s demographic dynamic trends, entrepreneurial resilience, and innovation ecosystems can generate not only competitive financial returns but also transformative social and environmental outcomes – helping to close enduring socio-economic gaps and drive more inclusive, sustainable growth across Africa.
To unlock this potential, catalytic collaboration between global Limited Partners (LPs), Development Finance Institutions (DFIs), foundations, and other capital providers is essential. This high-level gathering brings together some of the world’s most influential LPs investing in Africa to engage in strategic dialogue, share evidence-based insights, and explore new vehicles for scalable, sustainable, and measurable impact.
Purpose
The aim of this gathering is to deepen alignment among leading LPs and institutional allocators on Africa’s investment landscape and its measurable impact. Over 1.5 days, participants will exchange experiences, review new research findings, and identify actionable pathways to deploy capital with purpose —addressing key challenges in climate, inclusion, and economic transformation.
Uniqueness
Unlike broader conferences, this gathering is by invitation only, intentionally limited to ~60 senior LP representatives to ensure high-quality, candid, and trust-based dialogue. The program design blends academic rigor from IESE with market insight and field experience from Oryx Impact, creating a unique forum where data meets lived investment practice.
All sessions are off-the-record, fostering an environment of openness and peer exchange among leading institutional investors.
Bespoke Approach
Every element of this gathering is tailored to its participants:
•Evidence-based insights drawn from a comprehensive analysis of over 400 Africa-focused impact funds.
•Small-group workshops designed for real problem-solving and co-creation.
•Intimate panels featuring LPs who are shaping the future of Africa’s investment ecosystem.
Our Overarching Objective
To catalyze collaboration and innovation among LPs investing in Africa — enhancing capital efficiency, increasing measurable impact, and positioning Africa as a key destination for next-generation, purpose-driven investment.
Participants
Senior representatives of global LPs and institutional investors (pension funds, DFIs, sovereign wealth funds, insurance firms, family offices) will be invited with select impact fund managers and ecosystem enablers.
Thursday, May 28, 2026
08:30 a.m. Arrival & Registration
IESE Business School, North Campus, Avenida Pearson 28, street entrance on Calle d’Arnús i de Garí, 08034 Barcelona.
09:00 a.m. Opening Remarks
- Ermias Mebrate Mengistu, Director of IESE Africa Initiative
- Teresa Guardans, CEO and co-founder – Oryx Impact
Setting the context and ambition for the forum: why this is a closed, investor-led working space focused on readiness, risk, and real capital movement into Africa.
09:15 a.m. Introduction of LPs and Participants
- Prof. Fabrizio Ferraro, IESE Professor of Strategic Management and Academic and Director of IESE’s Institute for Sustainability Leadership
An important part of the Workshop is the personal introduction of everyone in the room. Participants briefly introduce themselves, focusing on their current investment lens on Africa, key questions, or constraints shaping their allocation decisions.
10:15 a.m. Keynote: Africa’s Next Decade — Strategic Implications for Long-Term Capital
- Rita Babihuga-Nsanze, Chief Economist – African Finance Corporation
A forward-looking keynote framing macro trends shaping Africa’s next growth phase: demographics, energy, climate resilience, and trade.
10:45 a.m. Opening Insights & Dialogue: From Strategy to Allocation, Positioning Long-Term Capital for Africa’s Next Decade
- Catherine Cax, Former Managing Director at Soros Economic Development Fund, Senior Advisor and Independent IC & Board Member
- Rita Babihuga-Nsanze, Chief Economist – African Finance Corporation
A moderated dialogue with the keynote speaker then examines what Africa’s next growth phase means for LP mandates, co-investment structures, and the practical pathways to move long-term capital at scale, bridging economic outlook with investment reality.
11:15 a.m. Connection Time over coffee/tea.
11:45 a.m. The Fund Manager Landscape: What the Data Tells Us About Investing in Africa
- Prof. Thomas Klueter, Professor in the Entrepreneurship Department, IESE Business School
- Nadia Kouassi Coulibaly, Head of Research – AVCA
Drawing on a comprehensive analysis of 400+ Africa-focused impact funds, this session presents what the data actually shows about fund performance, structures, risk-return dynamics, and impact outcomes, cutting through perception and narrative to give LPs an evidence-based foundation for allocation decisions. AVCA’s research perspective provides additional market intelligence on the state of private capital in Africa.
12:15 p.m. Facilitated Dialogue: The Capital Mobilization Puzzle: How Development Finance and Market Building Can Contribute
- Raphael de Muizon , Assistant Director, GuarantCo
- Anne-Marie Chidzero, CIO – FSD Africa Investments
Moderator: Sebastian Waldburg, Co-Founder & COO, Oryx Impact
FSD Africa Investments and GuarantCo share a common conviction: that the right financial architecture can unlock private capital for Africa. But their approaches are deliberately different — FSD Africa focuses on local capital markets, financial ecosystem development, and SME finance, while GuarantCo deploys guarantee instruments to mobilise international capital into infrastructure and project finance. Together, they represent two complementary layers of the same solution. This fireside conversation examines where those layers connect: what each institution has learned about what it actually takes to move capital into Africa, where local and international capital need each other to work, and what the future of African capital markets could look like if both models continue to scale.
01:00 p.m. Lunch, Restaurant North Campus
02:30 p.m. Panel: Institutional Investors and Africa in a Global Portfolio Context
Opening Insights (10mins): Africa’s Capital Markets: The Missing Link for Institutional Investors
Dr Edoh Kossi Amenounve, CEO, Bourse Régionale des Valeurs Mobilières – BRVM.
Before capital can flow into Africa at scale, it needs somewhere to exit. Dr. Amenounve makes the case for why developing Africa’s public markets infrastructure is not a technical footnote but a precondition for serious institutional allocation
- Matt Christensen, Former Global Head of Sustainable and Impact Investing – Allianz Global Investors
- Dr Edoh Kossi Amenounve, CEO, Bourse Régionale des Valeurs Mobilières – BRVM.
- Oguche Agudah, Program Manager – Pan Africa Pension Funds and Asset Managers Alliance (PAFMA) and Founder – HRISP Partners
Moderated by Prof. Fabrizio Ferraro
Africa’s investment case is increasingly understood. What remains unresolved is the architecture – the structures, markets, and mechanisms that allow institutional capital to flow in and stay. Three distinct perspectives examine what it will take to move Africa from an allocation consideration to a structural fixture in global and regional portfolios, and where the real bottlenecks remain.
03:30 p.m. Panel: Building From Within — How Family Businesses Are Shaping Africa’s Investment Ecosystem
- Artur Carulla Mar, Chair – Agrolimen Group
- Tutu Mnganga, Chair – Vulindlela Holdings, South Africa
- Nour Zaki, Deputy CEO – PRE Group, Egypt
- Moderator: Artak Melkonyan, Senior Technical Advisor – UNDP Timbuktoo
Across Africa and globally, leading corporates and family groups are moving beyond standalone investments to build integrated ecosystems—platforms that combine capital, operating expertise, partnerships, and catalytic funding to unlock scalable opportunity. The discussion will examine how such platforms can reduce fragmentation, enhance governance and visibility, and create the conditions for sustained capital deployment across priority sectors such as food systems, climate resilience, and inclusive growth.
04:15 p.m. Break
04:45 p.m. Breakout Group Discussions – Pooling Power: Co-Investing for Africa at Scale
Participants move into small, pre-assigned groups for a facilitated working session. The focus: what structural changes — within LP mandates or fund designs — would make Africa more co-investment ready?
06:00 p.m. Plenary: Closing Circle
06:15 p.m. End of first day of academic program and transfer
07:00 p. m. Dinner, at the Palauet Modernist Suites (Pg. de Gracia, 113, 08008 Barcelona) featuring a conversation between Natalie Jabangwe, CEO of UNDP’s Timbuktoo Africa Innovation Foundation, and Funda Sezgi, CEO of Norrsken Foundation: Two Ecosystem Builders on Unlocking Capital for Africa.
10:00 p.m. Transfer to hotel
Friday, May 29, 2026
08:30 a.m. Wake-up Coffee at IESE Business School, North Campus
09:00 a.m. Reflections & Key Insights from Day 1
Moderated by Prof. Fabrizio Ferraro, IESE Business School
09:15 a.m Fireside Chat: When Values Meet Capital: A Conversation on the Family Path to Impact
- Anna-Liisa Goggs, EMEA President – CREO Syndicate
- María Ángeles León, CEO & Co-Founder-Global Social Impact Investments
Drawing on her work facilitating family office investment in impact solutions across EMEA, Anna-Liisa offers practitioner insights on how families are moving from values alignment to tangible capital deployment — and what conditions make that shift possible.
09:45 a.m. Keynote Address: A Family business approach to scaling investments in Africa
- Prince Max Liechtenstein, Chairman – LGT group and Lightrock.
Prince Max Liechtenstein will share insights from the deployment of family capital through LGT and Lightrock in Africa, highlighting a long-term approach to building and supporting high-impact investments across the continent. He will also reflect on a deliberate, phased strategy of engagement – deploying proprietary capital while actively seeking to crowd in additional institutional and private investors.
10:05 a.m. Panel: Perspectives from Development Finance Institutions and Foundations on Mobilizing Private Capital for Africa
- Signe Sorensen, Director, Strategy & Impact – Norfund
- Alexander Paine, SME Senior Consultant – AfDB
- Harry Devonshire, Senior Manager – Argidius Foundation
Moderated by Adolfo Cires, Finance and Investments Manager – European Commission
Moving capital into Africa at scale requires more than conviction — it requires the right financial architecture. This session brings together institutions that have been deploying capital in Africa for decades to share what they have learned: what worked, what did not, and what it will take to systematically mobilize private capital alongside their own. Panellists will speak candidly about
where blended finance and de-risking instruments are delivering results, where they fall short, and what conditions institutional investors require to increase their exposure to Africa — and deploy it effectively alongside development finance and philanthropic capital.
10:50 a.m. Coffee Break
11:20 a.m. The Opportunity Brief: Fund Managers on Where to Look in Africa Right Now
- Saad Sheikh, Partner – ENKO
- Zachary Fond, Managing Partner – AltaSemper
- Ik Kanu, Founding Partner – Atlantica Ventures
- Moderator: Eva Abel, Partner and CIO – Oryx Impact
Africa’s investment landscape is not uniform — the opportunities are specific, the sectors are moving fast, and the managers who know where to look are already deploying. This session gives the LP audience a direct line to two fund managers operating at the frontier: what they are seeing on the ground, which sectors and markets are generating the most compelling risk-adjusted returns right now, and what it takes to back the right managers at the right moment. A practitioner-led close to the forum designed to move the conversation from intent to action.
11:10 a.m. Breakout Group Discussion: From Insights to Capital Intentions
The final working session of the forum. Participants return to their small groups for a forward-looking conversation: what has shifted in their thinking over the past 1.5 days, what still holds them back, and what one concrete step they could take in the next 12 months.
1:15 p.m. Plenary: Collective Reflections and Forward Signals and Closing Remarks
1:45 p.m. Lunch at IESE North Campus Restaurant
Eva Abel
Partner and Chief Investment Officer, Oryx Impact
Eva Abel – Partner and Chief Investment Officer at Oryx Impact, an impact fund of funds focused on Africa, targeting investments in the areas of economic development and job creation, climate change mitigation and adaptation, and female empowerment. Prior to Oryx Impact, Eva was an Investment Manager at the European Investment Fund, where she invested close to EUR 0.5 billion in technology Venture Capital (VC) funds across Europe. She was also a Partner at Giza Polish Ventures, a Polish-Israeli VC fund focused on early-stage technology investments. Eva started her career with investment banking at Diamond Capital in Lagos, Nigeria.
Oguche Agudah
Program Manager – Pan Africa Pension Funds and Asset Managers Alliance (PAFMA) and Founder - HRISP Partners
Oguche is currently the founder and Managing Partner of HRISP partners – a placement agent and an impact/alternative investment advisory firm. He also manages the newly established Pan African Fund Managers Association (PAFMA)- a platform that aggregates pension and non-pension fund managers in Africa.
He was the Pioneer CEO of the Pension Fund Operators Association of Nigeria (PenOp), the industry body for all licensed pension funds in Nigeria who collectively managed roughly USD 15 billion of pension assets at the time. In this role, he led the efforts of the pension industry in engaging various stakeholders, including the government, financial markets, the media, regulators, international organizations and others in order to ensure that the interests of the pension operators were promoted and protected.
He was previously Nigeria’s Regional Director for OurCrowd, a crowd funding, impact investment and venture capital firm with headquarters in Israel. He also previously worked as a Special Adviser to Nigeria’s Minister of Industry, Trade and Investment, where his portfolio was “Access to Finance”
He also worked in Standard Chartered bank for 15 years, where he had roles in financial control, credit, origination and client coverage, risk, corporate finance and strategy. Whilst in Standard Chartered, he had short term assignments in South Africa and London, working in Credit Risk, and Corporate Finance. His last role there was as an Associate Director in their Lagos office, where he was in charge of the credit quality of a portfolio of assets worth USD 7 billion dollars.
He is currently a member of the Nigerian National Advisory Board for Impact Investments, under the Global Steering Group for Impact Investments (GSG). He is an Independent Non-Executive Director for GT Pensions Limited and Parthian Capital Limited. He is also a founding Governing Council member of Pan African Fund Managers Association (PAFMA).
Rita Babihuga-Nsanze
Chief Economist, African Finance Corporation
Rita Babihuga-Nsanze holds dual Honours degrees (BSc. & BA) in Computer Science and Economics from Smith College, Massachusetts, USA, alongside MA and PhD degrees in Economics from Clark University, Massachusetts, USA. Previously, she served as Director of Macro Research for sub- Saharan Africa at Barclays Investment Bank, London, UK, from October 2017 to December 2019. Before that, she held the role of Vice President and Senior Analyst at Moody’s Investors Service (September 2014 – September 2017), overseeing credit ratings for sovereigns and multilateral development banks across Africa and Europe. Rita’s career began at the International Monetary Fund, where she spent over a decade as an Economist and Senior Economist across various departments. During her tenure, she undertook a secondment at the Bank of England, focusing on global financial stability issues during a pivotal period of reshaping prudential and regulatory frameworks. With extensive experience as a global macroeconomist and sovereign credit expert, Rita has deep expertise within the financial services industry, across international and domestic policymaking institutions, global credit ratings, and financial markets.
Artur Carulla
Chairman of the Board of Directors, Agrolimen Group
Catherine Cax
Former Managing Director at Soros Economic Development Fund, Senior Advisor and Independent IC & Board Member
Catherine Cax is the fomer Managing Director of Investments at the Soros Economic Development Fund (SEDF), the impact investment arm of the Open Society Foundations, where she led global private market investments across emerging markets, deploying approximately $100M annually and mamanged $500M in AUM across climate, inclusive development, and sustainable growth themes, with a strong emphasis on catalytic and blended finance approaches. Catherine brings over two decades of experience in development and impact investing, spanning both public and private capital. Prior to joining SEDF in 2018, she held senior leadership roles at Impact Fund Denmark (formerly IFU), the Danish Development Finance Institution, where she led high-impact commercial investment strategies across Sub-Saharan Africa and Asia, delivering both strong financial performance and development outcomes. After close to 8 years with SEDF, Catherine is now holding Non Exec and advisory roles and has joined the IC of Aqua-Spark, a global investment platform dedicated to building a more sustainable and effiicent aquaculture sector and the IC of Delta40, an African venture studio. She also leads the Capital Market Track of a new bold Nordic Initiative for Industries, Nordic Compass and is Advisory Board member to Climate Investment Partners.
Anne-Marie Chidzero
Chief Investment Officer, FSD Africa Investments
Anne-Marie is CIO of FSD Africa Investments, the investment arm of FSD Africa and is a member of the FSD Africa Board. She is the former CEO of FSD Mozambique, and Co-founder of Alitheia IDF Managers, a private equity fund manager investing in women-led businesses.
Anne-Marie has a wealth of experience in building African financial markets. Across her career, she has led a range of development finance investments and implemented strategies for private sector growth, in roles at the World Bank Group, CGAP, and UK Aid – among other development finance institutions. She has held Board and Advisory positions at pioonering inclusive finance organisations in Africa
Matt Christensen
Global Head of Sustainable Impact, Allianz Global Investors
Matt Christensen is a Senior Advisor and Non-Executive Director.
From 2020 to 2026, he was a Managing Director at Allianz Global Investors (AllianzGI), where he served as Global Head of Sustainable and Impact Investing. In his role, he developed and implemented the firm’s impact investing and blended finance strategy, and created what has become the market’s largest private credit impact investment fund to date, at over EUR 1 billion AUM. During his tenure, ShareAction noted AllianzGI as the top German asset manager in 2025.
Previously, Matt was Global Head of Impact and Responsible Investment for AXA Investment Management, where he created a EUR 1 billion AUM impact investment business. Earlier, he was the Founding Executive Director of Eurosif, managing the organisation from its start-up phase to its place as a leading EU policy think-tank.
He holds an MBA from The Wharton School and an MA degree in International Political Economy from the University of Pennsylvania. Matt and his family reside in Paris.
Adolfo Cires
Finance and Investments Manager, European Commission
More than 20 years experience in the development sector with focus on private sector programmes in various sectors such as financial institutions, agribusiness, forestry, tourism, green deal and digital.
Last decade focused on the development of financial products for companies both in the banking and capital markets sector and supporting Governments on financial sector and capital markets development through Policy Dialogue.
Current European Commission DG INTPA Lead on the Team Europe Initiative for Investing in Business (IYBA) in the African Continent a 4 EUR billion Global Gateway Team Europe initiative that since 2021 has supported thousands of micro, small and medium-sized businesses across Sub-Saharan Africa.
Harry Devonshire
Senior Manager, Argidius Foundation
Harry is a Senior Manager at the Argidius Foundation, and a co-founder of the Growth Firms Alliance, a coalition of philanthropic funders dedicated to unlocking the potential of growth firms to transform low- and middle-income countries.
Rafael de Muison
Assistant Director, GuarantCo
Raphaël de Muizon is an infrastructure finance professional with more than 15 years of experience across project finance, blended finance, and development finance. He has a strong track record in originating, structuring, and managing complex debt and guarantee transactions across Africa, Asia, and Europe, with expertise spanning energy, transport, telecoms, and social infrastructure. Over the years, Raphael developed an extensive experience working with sponsors, DFIs, commercial banks, and institutional investors in international environments.
Currently an Investment Associate Director at GuarantCo, part of the Private Infrastructure Development Group (PIDG), Raphaël focuses on mobilising private capital into frontier markets through innovative credit enhancement solutions. Prior to this, he held investment and relationship management roles within PIDG and spent over a decade at Crédit Agricole CIB in London and Paris, where he managed infrastructure and utility client relationships and oversaw project finance transactions across EMEA.
Raphaël is dual-trained in engineering and finance, and hold a Master’s degree in Aeronautics & Space Engineering and Master’s degree in Business & Strategy from ESSEC Business School.
About GuarantCo
GuarantCo mobilises private sector local currency investment for infrastructure projects and supports the development of financial markets in lower income countries across Africa and Asia. GuarantCo is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through the PIDG Trust, the Netherlands, through FMO and the PIDG Trust, France through a stand-by facility and Global Affairs Canada through a repayable facility. GuarantCo is rated AA- by Fitch and A1 by Moody’s in 2014. Since 2005, GuarantCo has enabled USD 7.1 billion of total investment and USD 6.8 billion of private sector investment, giving 44.8 million people access to infrastructure and creating around 248,000 jobs in Africa and Asia. www.guarantco.com
Zachary Fond
Managing Partner, AltaSemper
Zachary Fond is a Managing Partner at Alta Semper Capital, an Africa-focused private equity firm and an active investor in healthcare and consumer health across the continent. He has nearly 20 years of experience investing in and advising businesses across both emerging and developed markets, with a particular focus on scaling market-leading platforms in Africa.
Over the course of his career, Zachary has led investments across Egypt, South Africa, Morocco, Kenya, Angola, Nigeria, and Namibia, working closely with management teams to drive operational improvement and regional expansion. Prior to joining Alta Semper in 2016, he was a Senior Associate at Emerging Capital Partners, based in Nairobi. Earlier in his career, he worked in corporate finance at SABMiller and began his career in M&A at Goldman Sachs and UBS in Johannesburg and New York.
Zachary holds a BA in Economics from Cornell University and an MBA from The Wharton School at the University of Pennsylvania.
María Ángeles León
CEO & Co- Founder, Global Social Impact Investments
An economist by training, with over 20 years of career experience at Telefónica, during which she began dedicating herself to philanthropy — making the decision together with her husband to allocate 30% of their income to development projects in Africa, from which the OpenValue Foundation was born. Convinced that there are alternative and complementary ways to address the problems of poverty, they progressively moved into the world of impact investment, developing a hybrid model that combines philanthropy and impact investment within the foundation. “We believe so that people can reach their full potential; we just need to open doors of opportunity.”
CEO and co-founder of Global Social Impact Investments (GSI), an impact investment firm that channels capital into profitable companies addressing social and environmental challenges, demonstrating that financial return and impact can be aligned in a rigorous and transformative way.
A driving force in the impact ecosystem, bridging traditional finance, strategic philanthropy and impact investment, she has served on the boards of Spain NAB, Impact Europe and SpainCap.
Anna-Liisa Goggs
Regional President, EMEA, CREO Syndicate
Anna-Liisa Goggs joined CREO in January 2020 as Regional President, EMEA. As a successful entrepreneur dedicated to supporting impact businesses she is passionate about leveraging networks and partnerships to help scale climate solutions and broaden climate finance.
Prior to joining CREO, Anna-Liisa developed and managed a flourishing results-focused curriculum and investor matching programme for over 250 social enterprises in the Middle East involved in health, climate and education sectors, among others.
Alongside this, Anna-Liisa is a highly experienced corporate lawyer, accomplished in corporate finance transactions, M&A activity and IPOs. She has also supported several large family businesses as in-house counsel and helped a UAE family-owned conglomerate set up a foundation and develop ESG investment strategies.
Anna-Liisa holds an MBA and BA Law with French. She is based in London.
Teresa Guardans
CEO & Co-Founder, Oryx Impact
Teresa has over 30 years of experience in investment banking, wealth management, and impact investing, with previous roles at Warburg, UBS Wealth Management, Rothschild, and Pictet. Her expertise includes M&A advisory, capital allocation, fund selection and due diligence, ESG integration, and investing in developed and emerging markets, with a focus on Africa.
A long-standing advocate for responsible investment, she became Spain’s first Toniic member in 2018. In 2019, she co-founded Oryx Impact, a fund-of-funds platform mobilising capital into high-impact opportunities across Africa through a curated, diversified strategy that de-risks investments and catalyses institutional capital. She represents Oryx Impact at the Spain NAB (GSG Impact) and serves on its International Commission.
She holds an MBA from IESE Business School and a BSc in International Relations from Wellesley College and the London School of Economics.
Natalie Jabangwe
Chief Executive Officer, Timbuktoo Africa Innovation Foundation
Natalie Jabangwe is the CEO of the Timbuktoo Foundation, that houses a $1bn start up fund, a leading organization focused on driving innovation across Africa. Under her leadership, the foundation has become a key player in empowering young innovators and entrepreneurs, fostering creativity, and promoting sustainable development through technology and education.
Before joining Timbuktoo, Natalie served as the Group Digital Executive Officer at the Sanlam Group, Africa’s largest non-bank financial company in Africa and overseeing 34 countries and a budget of $600m. From 2014-2021, she was CEO of EcoCash, Zimbabwe’s largest mobile money service, where she was one of the youngest female CEOs in Africa’s mobile financial sector. Her career has been marked by her commitment to leveraging technology to create impactful solutions, earning her recognition as a Young Global Leader by the World Economic Forum in 2018. Natalie is also a 2017 Oxford University Tutu Fellow, reflecting her leadership and influence across Africa.
Ik Kanu
Founding Partner – Atlantica Ventures
Ik Kanu is a Founding Partner at Atlantica Ventures, an early-stage venture capital firm he co-founded in 2019 to back tech and tech-enabled startups from Seed to Series B across Nigeria, Kenya, South Africa, Côte d’Ivoire, Ghana, and Tanzania. A Kauffman Fellow (Class 23) with a background bridging engineering, technology investing, and operational advisory, Ik works closely with founders building in fintech, insurtech, cybersecurity, AI, and frontier areas such as African semiconductor design. He holds an MBA from NYU Stern, a Master’s in Management Science from Penn State, and a Bachelor of Science in Electrical Engineering, also from Penn State.
Nadia Kouassi Coulibaly
Head of Research Analytics, AVCA
Nadia Kouassi Coulibaly is Head of Research Analytics at AVCA – the African Private Capital Association, where she leads research and data strategy focused on private capital markets across Africa.
She has over 15 years of experience across African and European private capital ecosystems. Since joining AVCA in 2021, she has expanded its research agenda and strengthened its role as a trusted source of data and insights for investors, development institutions and policymakers. She is dedicated to advancing market transparency to support capital allocation across Africa’s private capital ecosystem, with a focus on institutional capital mobilisation and Francophone Africa.
Prior to AVCA, Nadia was Head of Research at France Invest. She holds an MSc in International Economics from Paris Dauphine University.
Edoh Kossi Amenounve
Chief Executive Officer, West Africa Region Stock Exchange (BRVM)
Dr. Edoh Kossi AMENOUNVE holds a PhD in Administration and Finance from Laval University in Canada (1995) after an MBA (1992). Before taking office as CEO of the Bourse Régionale des Valeurs Mobilières (BRVM), Dr. Edoh Kossi AMENOUNVE was from October 2012 to June 2022, CEO of the Bourse Régionale des Valeurs Mobilières (BRVM) and the Central Depository/Settlement Bank (DC/BR). Dr. AMENOUNVE was also, from September 2003 to September 2012 Secretary General of the Regional Council for Savings and Financial Markets (CREPMF), the financial market regulation authority of the West African Economic and Monetary Union (AMF-UMOA). Dr. AMENOUNVE is the Past Chairman of the West African Capital Markets Integration Council (WACMIC).
Dr. AMENOUNVE is the Past President and member of the Executive Committee of the African Securities Exchanges Association (ASEA).
Since July 2021, Dr AMENOUNVE is Member of the NASDAQ Exchange Review Council.
Dr. AMENOUNVE is Member of the Supervisory Board of the Africa Financial Summit, the largest annual gathering of financial leaders in Africa.
Dr. Edoh Kossi AMENOUNVE is considered as one of the most influential finance specialists in Africa.
He is an Officer of the “Ordre du MONO”, the National Order of the Togolese Republic.
Ermias Mebrate Mengistu
Director of IESE Africa Initiative
Prince Max Liechtenstein
Chairman, LGT group and Lightrock
H.S.H. Prince Max von und zu Liechtenstein is the Chairman and CEO of LGT Group since 2020 and he has been CEO of LGT Group since 2006. Prince Max holds a master’s degree from Harvard Business School. Since the beginning of his tenure at LGT in 2006, the international private banking and asset management group has increased its assets under management from approximately CHF 70 billion to CHF 386 billion. LGT is fully controlled by the Liechtenstein Princely Family and employs over 6000 people in more than 40 locations worldwide. He is also Founder and Chairman of Lightrock and a member of the Foundation Board of LGT Venture Philanthropy.
Artak Melkonyan
Senior Technical Advisor, UNDP Timbuktoo
Artak Melkonyan is a development finance strategist and impact investment architect with more than 30 years of experience of private and development finance across 40+ countries.
He serves as Senior Technical Advisor to timbuktoo, UNDP’s pan-African innovation platform designed to mobilize $1 billion in catalytic capital to support venture ecosystems and innovation infrastructure across Africa. Advising the CEO and Board directly, he leads strategy on blended finance design, institutional governance, and strategic partnerships with funders, development finance institutions, and private investors.
Artak pioneered UNDP’s Impact Venture Accelerator model, which has scaled to more than 20 countries, helping multilateral institutions develop new approaches to public–private collaboration and build investible startup pipelines in frontier markets. He has also led UNDP’s engagements with private sector financial institutions ranging from venture capital firms to large global financial conglomerates. He was named among the Top 100 Fintech for SDG Influencers in 2019.
His professional background spans private equity, banking, consulting, and international development. Previously Senior Vice President at Dun & Bradstreet, he led financial infrastructure expansion across the Middle East, South Asia, and Africa. He has also managed a major venture philanthropy fund and led development finance initiatives across Asia, Africa, Europe, and the Americas.
In addition to his practitioner career, Artak has contributed to management education as Dean of Business at the French University of Armenia and delivered courses at the University of Lyon 3 (France), Thammasat University (Thailand), and the American University of Armenia — bringing impact finance and disruptive management practice into classrooms across three continents. He is an INSEAD ISEP alumnus, holds executive credentials from Georgetown University, and master’s degrees from the American University of Armenia and the State Engineering University of Armenia
Alexander Paine
SME Senior Consultant - AfDB
Private sector development expert with 26 years of experience in SME growth, investment, M&A and fundraising. Extensive track record in designing and managing multi-country SME finance and advisory programmes in developing economies, working with SMEs to grow and financial institutions to build scalable lending operations. Expertise includes high-growth SMEs, family businesses in transition, early-stage tech, and gender and youth-focused initiatives.
Led regional programmes across multiple countries, building teams and launching financial services businesses in four countries. Experience spans more than 30 country programmes within African Development Bank, European Bank for Reconstruction and Development, International Finance Corporation, and private investment banking environments, with deep regional knowledge of Africa, the Balkans, Eastern Europe, and the former Soviet Union.
Currently advising the AfDB on the development of an SME strategy to mobilise $5-6bn into the sector from AfDB and African sources.
Funda Sezgi
Co-CEO of Norrsken Foundation
Co-CEO at Norrsken Foundation, a global ecosystem supporting impact entrepreneurs in solving the world’s greatest challenges, such as climate, biodiversity, healthcare and mental health. Funda is also the Co-Founder of the Norrsken Impact Accelerator (now Norrsken Evolve), a venture capital fund and acceleration program for early-stage impact startups. Prior to assuming global operational leadership at Norrsken, she led the foundation’s international expansion and the establishment of Norrsken House in Stockholm, Sweden. She holds a Ph.D. in Strategic Management from IESE Business School, focusing on scaling impact ventures. She has previously been a visiting scholar at Stanford University as well as a management consultant and business developer across several international markets.
Saad Sheikh
Partner - ENKO
Saad Sheikh is a Partner and Co-Head of Enko’s private credit strategy, located in the London office. Prior to joining Enko, from 2014 to 2022, Saad was a principal at as African focused fund, where he was responsible for deal origination, structuring, and execution for their emerging markets private debt fund. Saad focused on various industries in Africa, including healthcare, fintech, and consumer goods. Prior to that, from 2012 to 2014, Saad was a Consultant at Accenture where he was involved in and transformation projects. From 2005 to 2012, Saad focused on infrastructure projects for Nokia.
Saad is an engineer by background and has an Executive master’s in business administration from Imperial Business School, London.
Signe Sorensen
Director Strategy & Impact at Norfund, Norwegian Development Finance Institution
Signe Kolbye Sørensen, Director Strategy & Impact at Norfund, the Norwegian Development Finance Institution.
Signe works on shaping Norfund’s strategic direction, strengthening its work on private capital mobilisation and overseeing its approach to delivering and measuring impact. She has been with Norfund for the past 7 years and also serves as vice chair at the Board of NorNAB, the Norwegian advisory board for impact investing. Prior to Norfund, Signe worked in boutique consultancies in Oslo and Copenhagen with impact investing and development finance. She holds a MSc in Economics from University of Copenhagen.
Sebastian Waldburg
Partner and co-founder - Oryx Impact
Sebastian is a seasoned investment professional with more than 28 years of experience in the financial sector related to energy, venture capital and impact investments. He started his career with two years of humanitarian relief work in Bosnia Hercegovina during the Balkan War leading the planning and implementation of large-scale projects for international organisations. After completing an MBA at IESE, he joined Schroders, an independent UK based merchant bank in London where he advised governments and large utilities on Privatisations, M&A transactions and project financings. In 2004 he co-founded a VC investment firm, SI Capital, focused on climate finance – one of the pioneer VC firms within the climate finance space in Europe. In 2019, he co-founded Oryx Impact, a fund-of-funds platform mobilising capital into high-impact opportunities across Africa through a curated, diversified strategy that de-risks investments and catalyses institutional capital.
Nour Zaki
Deputy CEO – PRE Group, Egypt
Nour Zaki is the Deputy CEO for Business Development at PRE Group (one of Egypt’s leading real estate developers with a land bank exceeding 12 million sqm and a portfolio spanning residential, commercial, and mixed-use destinations across Egypt and Libya) and Gadwa Industrial Development (a diversified industrial platform with market-leading positions in FMCG, packaging, wires and cables, and pharmaceuticals).
Prior to joining the family enterprise, Nour was a strategy and management consultant at McKinsey & Company, advising C-suite leaders across Egypt, Saudi Arabia, and the UAE on growth strategy, operating model transformation, and cross-sector M&A. She previously gained commercial experience at Procter & Gamble in Dubai, where she led brand and marketing initiatives within the MENA haircare division.
A civil and architectural engineering graduate of the University of Bath, where she held a Chancellor’s Scholarship for academic excellence, Nour brings a multidisciplinary perspective to capital deployment, industrial growth, and real estate development across the region.
IESE is a dynamic community of scholars and practitioners who will welcome you to Barcelona, a traditional and welcoming Mediterranean city. It is a city with a great number of tourist attractions and a friendly atmosphere that will offer conference participants and their families plenty of opportunities to enjoy their stay here, over and above the academic program we are preparing for you.
Due to exceptionally high hotel demand in Barcelona during the event dates, driven by four major international conferences taking place in the city, we are only able to guarantee a limited number of rooms at the following hotels.
Guests wishing to book their accommodation through us are kindly requested to contact Anna as soon as possible in order to secure their reservation. Anna Sánchez (anna@vintage.cat):
- Atiram Tres Torres – 10 minute by car from IESE
- NH Constanza (TBC) → 10-minute by car from IESE
De i Mata, 69-99 , 08034 Barcelona - Hotel Hyatt Sofia Barcelona → 25-minute walk from IESE
C/ Pl. de Pius XII, 4, Les Corts, 08028 Barcelona


