The World Bank Group has appointed Africa’s richest man, Aliko Dangote, alongside other global business leaders, to a newly expanded phase of its Private Sector Investment Lab, aimed at mobilising private capital to spur job creation in developing economies.
The announcement was made on Wednesday as part of the World Bank’s strategy to shift the Lab from ideation to implementation, aligning it more directly with its global employment agenda.
Joining Dangote in the expanded Lab are Sunil Bharti Mittal, Chair of Bharti Enterprises; Bill Anderson, CEO of Bayer AG; and other senior executives from key global institutions. The Lab will focus on unlocking investments in job-critical sectors such as infrastructure and healthcare.
“With the expanded membership, we are mainstreaming this work across our operations, aligning it with the jobs agenda driving our strategy,” said Ajay Banga, President of the World Bank Group. “This isn’t about altruism—it’s about guiding the private sector toward investments that yield returns while uplifting people and economies.”
The Private Sector Investment Lab will now concentrate on five core areas: regulatory certainty, political risk insurance, foreign exchange risk mitigation, junior equity capital, and the development of liquid markets through securitisation.
The World Bank noted a 30 per cent increase in guarantee issuance over the past 18 months and a commitment to deliver 40 per cent of the International Finance Corporation’s long-term financing in local currencies by 2030.
The Lab is chaired by Shriti Vadera, Chair of Prudential plc, who welcomed the new members and praised the contributions of the original cohort, which includes executives from AXA, BlackRock, HSBC, Macquarie, Temasek, and others.
“We are grateful to the original Lab leaders who delivered strong results in the initial phase,” said Banga. “Now, we’re building on that foundation and shifting from ideas to action.”
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Sunil Bharti Mittal commended the World Bank’s approach: “As President Banga has emphasised, the private sector is pivotal to this transformation. I’m delighted to join the Lab. I’ve seen how connectivity can transform lives and economies, and I believe the telecoms sector has valuable lessons to offer.”
Bill Anderson of Bayer AG echoed similar sentiments, noting, “Together, businesses and the World Bank Group can drive job creation in emerging markets by managing risk and seizing new opportunities.”
