An independent member of the bank’s Board of Directors since January 2020, she was unanimously chosen by the 13 directors, including 6 independent directors, on the Board of Rawbank, the leading bank in the Democratic Republic of Congo.
Rawbank currently serves over 500,000+ corporate, SME and individual customers through a network of 100 outlets in 19 provinces of the DRC. The bank, which has a representative office in Brussels, employs more than 1,800 staff and holds over 30% of the banking market in the DRC.
Isabelle Lessedjina, 48, replaces Mazhar Rawji, who has been elevated to the rank of Chairman Emeritus of Rawbank.
Since 2019, Isabelle Lessedjina has been Senior Vice President, Strategy, Investor Relations and External Affairs, of “The Currency Exchange Fund” (TCX), a development fund set up by development finance institutions, multilaterals and some governments to provide currency risk solutions. In many parts of the developing world, particularly Africa, companies or governments wishing to borrow money on the international markets can often only do so in foreign currencies (dollars, euros, etc.), while their source of revenue to repay this debt is denominated in local currency. This difference gives rise to exchange rate risk, i.e. uncertainty as to the evolution of the exchange rate between currencies, which can quickly prove problematic. In such a scenario, foreign currency borrowers in these countries can quickly find themselves weakened by sudden exchange rate movements. TCX exists precisely to avoid this kind of damaging situation.
Financial expert
Commenting on her appointment, Isabelle Lessedjina said: “I am delighted and honored to take on the role of Chairman of the Board. On behalf of Rawbank, I express our deep gratitude to Mazhar Rawji for his outstanding leadership during his tenure as Chairman, who propelled the bank to unprecedented growth through his visionary guidance. I also warmly thank our shareholders and the Board of Directors for their confidence. I am particularly inspired by Rawbank’s mission and growth potential, as well as its ongoing commitment to financing the Congolese economy and improving the lives of the Congolese people. More than a bank, Rawbank is dedicated to these overarching goals. I look forward to collaborating with all Rawbankers, to contribute to the sustainable development of the bank in line with the highest standards of governance”.
A financial expert with over twenty years’ experience in international finance, Isabelle Lessedjina holds two MBAs, one from the Institut d’Etudes Supérieures de Commerce (IESE Business School) in Barcelona, Spain, the other from the London Business School. She also holds a degree in management from the Catholic University of Louvain in Belgium.
Isabelle Lessedjina began her professional career in corporate treasury, first with the Belgian airline Virgin Express in 2001, where she held the position of treasury manager. Then, in 2003, she was recruited by the private pharmaceutical group Besins Healthcare, based in Monaco and with offices in France and Belgium. She worked there for 6 years.
In 2009, Isabelle Lessedjina was appointed Associate Director at Standard Chartered Bank, based in Dubai. She is responsible for global origination, capital markets and corporate finance for the Middle East and Africa. She held this position until 2010.
Keen to work in/with Africa, Isabelle Lessedjina decided to do an MBA to reorient her career and develop her management skills to become a leader in the African region.
Establishment of GE Capital’s first office in Africa
Subsequently, in 2010, she was appointed Vice President Sales and Marketing, West and Central Africa, for GE Capital Aviation Services (GECAS), the financing subsidiary of the General Electric Group. She is based in Accra, Ghana. In this position, Isabelle Lessedjina established GE Capital’s first office in Africa, with the mission of driving strategic growth, aircraft and engine leasing and financing, and aviation consulting throughout sub-Saharan Africa (USD 3 billion in assets in Africa).
“Returning to Africa, while working for an international company, doesn’t make it easy to find the subtle balance between achieving the ambitious targets provided by an international company and the potential of our regional markets, but which have a generally less rigorous pace and decision-making structure. We often have to act as a bridge between these 2 opposing visions of business. But this is also an incredible opportunity for young people in the diaspora,” says Isabelle Lessidjina in an interview published by Optimum magazine in the DRC.
She worked for GECAS until 2015, before becoming director in charge of consulting, innovation and financing solutions at international strategic consultancy ESSA Ltd in Mauritius.
Subsequently, in 2018, isabelle Lessedjina joined Philips Capital in the Netherlands as Director France, Iberia and Head of Strategic Solutions Financing for Southern Europe and Africa. In this role, she led the strategy, growth and transformation of asset finance and leasing programs between Royal Philips and a major European bank as well as responsible for complex strategic solutions and financing projects in the region, coordinating financial modeling, sales and finance teams, as well as transformation and customer experience initiatives.
Isabelle Lessedjina’s leadership philosophy and experience, across multiple sectors and regions, is summed up by the phrase “Connecting the dots”: bringing value, making an impact and building ecosystems. This leitmotif, she explains, corresponds exactly to her approach and contributions to boards, organizations, partnerships and stakeholder engagement.
