The African Development Bank Group has appointed Dr Akinsola Babalola, a banking and finance management professional, Special Assistant to the Bank Group President.

Dr Babalola is a Nigerian citizen with over 20 years of experience across sub-Saharan Africa. Before joining the Bank, he was Assistant Vice President at Ecobank Transnational Incorporated in Lome, Togo, where he served in various strategic roles for 11 years.

From 2012 to 2017, he was in the office of the Deputy Chief Executive Officer as Business Performance Manager, overseeing the financial performance of Ecobank subsidiaries across more than 30 countries.

From 2017 to 2018, Dr Babalola, a Nigerian citizen, was Assistant Vice President for Regulatory Compliance Monitoring, where he helped strengthen enterprise-wide controls by assessing compliance risks and implementing regulatory changes across subsidiaries of Ecobank Group.

He served as Chief of Staff to the Group Execution for Operations and Technology from 2018 to 2021. In this capacity, he played a key role in the coordination and execution of the core activities of the largest division within Ecobank Group to ensure consistency in operations in line with the strategic goals of the institution.

He championed organizational reforms and the implementation of various banking and financial systems initiatives. This included leading the team that centralized and virtualized cross-functional operational activities across the Ecobank Group, and setting up the Group Payment Operations in response to the competitive drive for the efficiency of payment solutions across sub-Saharan Africa.

Until recently, Dr Babalola was the head of the two regional processing centres in Lagos and Abidjan, handling operational activities for Ecobank subsidiaries, and head of the Group Payment Operations Centre that oversees all digital transactions.

Dr Babalola had a brief stint at Shell International Petroleum Company in the United Kingdom in 2008, where he evaluated strategic business opportunities in gas-to-liquid markets and developed a model for competitive positioning for four niche applications.

He holds a Doctoral degree in Business Administration from the University of Manchester (United Kingdom, 2022), a Master of Business Administration from the University of Oxford (United Kingdom, 2008), a Master of Managerial Psychology from the University of Ibadan (Nigeria, 2006), and a Bachelor of Psychology from the University of Ibadan (Nigeria, 1998). He is a Fellow of the Association of Certified Chartered Accountants (United Kingdom).

Commenting on his appointment, Dr Babalola thanked Dr Adesina for offering him the opportunity. “I am deeply humbled and honoured. I am committed to serving this great institution and Mr. President in the execution of his laudable vision, which is transforming the Bank and the African continent.”

Dr Adesina said: “I am pleased to appoint Dr. Akinsola Babalola as Special Assistant to the President. Akinsola, a respected banker with strong knowledge and experience in the commercial banking industry, brings wide exposure and engagement in management, strategy and implementation. He will provide strategic support for the President at all levels of the Bank, externally and internally, including with the boards of directors, senior management and staff.”