DFC, U.S. International Development Finance Corporation
February 20, 2020
WASHINGTON – Today, President Donald J. Trump has selected U.S. International Development Finance Corporation (DFC) Chief Executive Officer Adam Boehler to serve as Executive Chairman of Prosper Africa. Announced in 2018, Prosper Africa is a U.S. Government-led initiative which aims to substantially increase two-way trade and investment between the United States and Africa.
“Prosper Africa is helping harness Africa’s tremendous growth trajectory to unlock new opportunities for both American and African businesses,” said Boehler. “I’m honored to chair this important initiative and advance both American and African competitiveness through the power of private enterprise.”
As Executive Chairman, Boehler will lead efforts to coordinate and mobilize the tools and resources of 16 U.S. Government agencies in support of Prosper Africa’s mission. Boehler brings extensive experience in investment, entrepreneurship, and innovation both in and outside of the U.S. Government.
Working in close coordination with the White House, Boehler will have the support of an interagency secretariat that will work to maximize the impact of U.S. Government tools to mobilize private capital, improve business climates, and accelerate African economic growth. Victoria Whitney, formerly Senior Director for Strategy and Communications at United States Agency for International Development (USAID), will serve as the Chief Operating Officer of the Prosper Africa secretariat.
“Prosper Africa creates new and promising opportunities for people across the continent. Bringing together the tools of DFC, USAID, the Department of Commerce, the Millennium Challenge Corporation, and our other U.S. Government colleagues, we will help to grow economies, create jobs, and increase livelihoods for Africans, as well as for the American people,” said Boehler.
Before becoming CEO of DFC, Boehler ran healthcare innovation for the U.S. Government at the Department of Health and Human Services. Prior to his government service, he founded and led several successful businesses including Landmark Health, which he grew into the largest in-home medical provider in the country. Boehler spent the first half of his career focused on domestic and international investing. He began his career working for the Financial and Fiscal Commission in South Africa, where he advocated for fiscal responsibility on behalf of the nine provinces.
Boehler was unanimously confirmed by the United States Senate in September to serve as the first CEO of DFC—a new U.S. Government agency dedicated to partnering with the private sector to invest in emerging markets and advance U.S. foreign policy. DFC has a $60 billion investment cap, new tools, and greater flexibility to support private sector-led development in priority regions like Sub-Saharan Africa. The agency plays a key role in advancing Prosper Africa by supporting private sector investment across the continent, including through its Connect Africa and 2X Africa programs.
DFC currently has over $7 billion invested in more than 150 projects across Africa. These projects are building critical infrastructure, expanding access to energy, technology, and healthcare, and advancing financial inclusion, particularly for women and small businesses. The agency recently announced a new collaboration with the African Development Bank to multiply its impact in the region.
U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.