The EDFI Management Company has recruited Dominiek Deconinck to head up the European Commission’s Electrification Financing Initiative (ElectriFI).
Deconinck joins the fund manager of the Association of European Development Finance Institutions after eight years at Incofin Investment Management, where he was executive director private equity and chief investment manager for Africa, CEE/NIS/MENA.
EDFI Management Company’s managing director, Frederik van den Bosch, told Development Finance: “Dominiek has many years’ experience in developing countries – particularly in the microfinance sector – dealing with many of the issues that our clients will run into.”
Deconinck’s 18 years of experience include dealing with many aspects of financial inclusion in developing countries as well as in companies and projects in the renewable energy and environmental technologies sectors.
The management company has expanded to a team of six since its launch at the end of last year. It recently closed its third deal, after taking a 9 percent equity stake in Indian mini-grids company Mera Gao Power. EDFI Management Company will be working with other investors such as French group Engie.
Van den Bosch was delighted with the recruitment and the company’s progress, following a period setting up “boring but crucially important functions” such as risk control and other back office facilities.
“We have the EDFI name and network. As an organisation, we must be on a par with the European DFIs,” said van den Bosch.
ElectriFI is the company’s starting point. The Management Company is hoping the European Commission will sign off an AgriFI fund during 2017.