The World Bank Group has announced the launch of the next phase of its Private Sector Investment Lab by appointing accomplished business minds, Aliko Dangote and Bharti Airtel’s Sunil Mittal.
While speaking on the Lab’s membership expansion, World Bank Group President, Ajay Banga, listed the 2 other newly-appointed members as the CEO of Bayer AG, Bill Anderson, and the President & CEO of Hyatt Hotels Corporation, Mark Hoplamazian.
According to him, the World Bank Group added new members with massive job creation experience in developing economies because they perfectly align with the group’s major focus on employment opportunities as the undisputed foundation for any kind of development.
He revealed that the simple plan is to help the private sector take the right path to investments that will guarantee returns, uplift Nigerians, and grow economies.
“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy.
This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate,” he said.
Ajay disclosed that the Lab has consistently united leaders from global financial institutions to identify the key obstacles in the way of effective private sector investment in developing countries, and to figure out ways to provide solutions.
Speaking on the new members, Banga said that the leaders chosen are experienced enough in infrastructure/energy, agribusiness, healthcare, tourism, and manufacturing, so they definitely have what it takes to guarantee positive long-term results over time.
“We are grateful to the original lab leaders who helped us deliver strong results during the initial work period. Now we’re building on that foundation, bringing in additional leaders from sectors that are central to job creation and moving from ideas to implementation,” he added.
