The U.S. International Development Finance Corporation (DFC) has named Selam Demissie its new Regional Managing Director, a strategic move announced in Nairobi, Kenya. The appointment, revealed during a visit by U.S. Deputy Secretary of State Christopher Landau, underscores a renewed focus on strengthening economic partnerships in East Africa. Based in Nairobi, Demissie will lead the agency's efforts to drive private sector-led development across the region.
A Strategic Appointment for Regional Growth
In her new capacity, Ms. Demissie will oversee a portfolio of projects designed to accelerate market-driven growth and deepen U.S. economic engagement. She will leverage DFC’s full suite of financial products, including debt facilities and loan guarantees, to build on existing investment pipelines. Her primary objective is to refine strategies that attract, retain, and support investors in sectors critical to regional prosperity.
Strengthening U.S. Economic Diplomacy
DFC CEO Ben Black emphasized the strategic importance of this enhanced presence, calling Kenya a crucial regional anchor for advancing U.S. interests. He stated that a strong DFC office in Nairobi is vital for sourcing investment opportunities that yield benefits for both nations. With its expanded investment capacity, the DFC is now better positioned to undertake more ambitious and transformative projects.
U.S. Deputy Secretary of State Christopher Landau affirmed that the DFC plays a critical role in advancing American national security and foreign policy objectives. He explained that mobilizing private-sector investment in key partner countries like Kenya is fundamental to this mission. A strengthened DFC presence is therefore positioned to deliver impactful work that fosters long-term stability and shared prosperity.
An Experienced Leader for a Key Region
Ms. Demissie is well-equipped for the role, bringing extensive experience from her previous work within the DFC. She has supported complex energy and agriculture projects across both Africa and Latin America through various financial instruments. Her leadership has been instrumental in structuring deals that advance development goals while ensuring financial viability and sustainability for all partners involved.
Prior to her recent appointment, Demissie led programs that successfully strengthened private sector frameworks to expand energy access in developing nations. As a direct result of her leadership, governments were empowered to run competitive procurement processes for new energy projects. This approach effectively lowered costs for consumers and attracted significant new private investment into vital infrastructure development.
A Commitment to the Continent
This strategic appointment highlights the significant role Sub-Saharan Africa plays in the DFC's global strategy and U.S. foreign policy. The continent is the second-largest region in the corporation’s portfolio, commanding more than $10 billion in total exposure. This substantial commitment demonstrates a clear focus on partnering with African nations to unlock economic potential and drive sustainable growth.
Selam Demissie’s appointment as Regional Managing Director signals a new chapter in the DFC's engagement with East Africa. Her proven expertise and strategic vision are expected to catalyze private investment and deepen crucial economic partnerships throughout the region. This move ultimately reinforces the U.S. commitment to fostering shared prosperity and sustainable development alongside its African partners.