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📍 Lagos, 5 September 2025 — The European Bank for Reconstruction and Development (EBRD) has named Hamza Al-Assad as its inaugural Country Director for Nigeria, marking the Bank’s formal entry into sub-Saharan Africa following Nigeria’s accession as a member state earlier this year.
Based in Lagos, Al-Assad will oversee the establishment of EBRD operations in Nigeria and report to Heike Harmgart, Managing Director for sub-Saharan Africa. His appointment follows amendments approved at the EBRD’s 2023 Annual Meeting in Samarkand, which expanded the Bank’s mandate to include sub-Saharan Africa and Iraq.
Al-Assad brings extensive regional experience, having previously served as Associate Director for Climate Strategy and Regional Delivery at the EBRD, where he led green policy initiatives across the southern and eastern Mediterranean. A dual Egyptian-Jordanian national, he has held senior roles in Egypt, Jordan, and at investment institutions in Cairo and London.
“It is a true privilege to take on this role and to launch our activities in Nigeria, a country with extraordinary talent, remarkable potential and a vibrant culture,” Al-Assad said upon his appointment.
The EBRD, founded in 1991, supports private-sector development in 39 emerging economies. To date, it has invested over €215 billion, with nearly 80% directed toward private enterprise. Nigeria’s inclusion signals a strategic expansion of the Bank’s footprint in Africa.
You can read the full announcement on the EBRD’s official website.
