Papa Madiaw NDIAYE

Papa Madiaw NDIAYE
Founder and Chief Executive Officer AFIG Funds


Papa Madiaw Ndiaye is Founding Partner and Chief Executive Officer of AFIG Funds. AFIG Funds is a Mauritius registered private equity fund management company established in 2005 with its main office in Dakar (Senegal), and additional offices in Johannesburg (South Africa), and Washington D.C. (United States). AFIG Funds’ maiden fund, the Atlantic Coast Regional Fund (ACRF), is a US$122mn regional fund focused on growth equity investments targeting 29 countries in North, East, West and Central Africa. AFIG Funds has a portfolio of companies operating across a group of countries in sectors ranging from agro-chemicals to automotive assembly and including contract drilling services, financial services and petroleum products distribution.

Prior to AFIG Funds, Mr. Ndiaye was Investment Director at Emerging Markets Partnership in Washington. He was one of three partners to raise the US$407mn AIG African Infrastructure Fund, which, when launched in 2000, was the largest ever pan-African fund. Before EMP, he held senior responsibilities for the International Finance Corporation’s investment activities in financial institutions in Africa between 1996 and 2000 and helped to launch several landmark funds in Africa. Mr. Ndiaye spent the early part of his career at Salomon Brothers and joined JP Morgan’s Emerging Markets Group in 1992.

In 1994, he launched JP Morgan’s securities trading in Africa and the Middle East. In 2000, Mr. Ndiaye was named Special Advisor for Economic and Financial Affairs to the President of the Republic of Senegal and Chairman of the Senegalese Presidential Economic & Financial Advisory Council. In the same year, he launched MIDROC BVI, a direct investment vehicle for Sheikh Mohammed Al-Amoudi, a lead investor in the AIG African Infrastructure Fund. He serves on the Boards of a number of African companies and non-profit organizations involved with Africa. He holds an M.B.A. degree from the Wharton School of Business, an M.A. in International Affairs from the University of Pennsylvania’s Lauder Institute, and a B.A. in Economics from Harvard College. In 2004, he was selected as a “Young Global Leader” by the World Economic Forum of Davos and then as one of the ‘’Frontier 100 CEOs’’ of the Initiative for Global Development in 2009.