AfDB GC returns to private practice

The African Development Bank’s general counsel has returned to private practice after 28 years.

Kalidou Gadio joins US law firm Manatt, Phelps & Phillips, as a partner and co-chair of its Africa, Middle East and North Africa group. He joins the firm in Washington D.C.

Gadio’s practice focuses on project finance transactions, litigation and international arbitration for sovereign wealth funds, governments and foreign investors.

He joined the AfDB in 1989 and was made chief legal officer in 2008.

While at the bank, he helped establish Africa50, an investment bank for the continent, with $3 billion in capital.

The AfDB is a major investor in private equity funds in Africa and last year established its own $500 million debt fund for renewable energy.

Exits in the region reached record highs last year with 48 exits recorded, mostly in South Africa, North Africa and West African countries, according to a recent report by EY and the African Venture Capital and Private Equity Association.