United States African Development Foundation Names Shari Berenbach as President
WASHINGTON, October 25, 2012/African Press Organization (APO)/ -- Shari Berenbach, currently the Director of the Office of Microenterprise & Private Enterprise Promotion (MPEP) at the U.S. Agency on International Development (USAID), will become President of the United States African Development Foundation (USADF) on December 17th, USADF Board Chairman Jack Leslie announced today. Ms. Berenbach will succeed Lloyd Pierson, who is leaving the agency after five years as President.
USADF is an independent Federal agency providing economic development solutions to marginalized communities in conflict and post-conflict areas. Established to support African-designed and African-driven solutions, the Agency focuses on grassroots economic and social problems. Under USADF's unique model, grants of up to $250,000 are delivered directly to African-owned institutions. The grants catalyze organizations to create tangible benefits such as increasing or sustaining the number of jobs in a community, improving income levels, and addressing social development needs.
Through her work at USAID, and in previous roles during her career, Mr. Berenbach has developed an expertise in finance and development in African countries. She was a pioneer in promoting financial services and efforts to link microfinance to energy, health, small and medium enterprise, and other related sectors. As Director of MPEP, she was involved with programs in Ghana, Kenya, Liberia, Mali, Tanzania, and Uganda, among other countries throughout Africa, Latin America and Asia.
Serving at USAID since 2010, she has directed $265 million in annual global support for microfinance and microenterprise programs. Under her direction, MPEP concentrated on programs to benefit the rural ultra-poor, while linking smallholders to inclusive value chains.
“Shari has championed innovative approaches to international finance, microfinance and impact investing in private, non-profit and public sectors over the course of her impressive, 30-year career in global development,” Mr. Leslie said. “Her ability to create connections and establish partnerships with a broad spectrum of stakeholders and organizations will make her an outstanding leader at USADF and an asset to those we serve. We are pleased that she has decided to head the organization and build on the significant achievements of Lloyd Pierson.”
Mr. Leslie also expressed the organization's gratitude to Mr. Pierson for his work at USADF: “Lloyd's dedication to Africa and the most marginalized of its people has made a lasting difference in countless lives on the continent. He has also left an indelible impression upon those of us who were fortunate enough to work with him. We are grateful for his unstinting service and remarkable achievements.”
Prior to joining USAID, Ms. Berenbach served as President and CEO of the Calvert Foundation, an independent, non-profit organization dedicated to maximizing the flow of capital to disadvantaged communities in order to create a more equitable and sustainable society. During her 13-year tenure, she grew Calvert Foundation from a small pilot project to a $500 million institution serving thousands of investors and hundreds of local financial intermediaries in the United States and around the globe.
“I am thrilled and humbled by the opportunity to lead USADF,” Ms. Berenbach said. “The Foundation is known for tackling significant challenges with unique solutions that assist those in the greatest need, the marginalized populations of conflict and post-conflict nations. I have the utmost respect for the hard work and diligence of USADF employees, and the results they achieve. I look forward to working with the talented and dedicated people of USADF in advancing our national interest and the interests of the people of Africa.”
Ms. Berenbach also previously served as an investment officer at the International Finance Corporation and was engaged in various consultancies, such as assisting banking regulation for microfinance, helping to launch MicroRate, and conducting program evaluations on behalf of USAID and the World Bank. Prior to that, she worked with microfinance operations in more than two dozen countries in Africa, Asia, and Latin America.
Ms. Berenbach holds a Master of Business Administration degree in Finance from Columbia Business School, a Master of Arts degree in Latin American Studies from UCLA, and an undergraduate degree in political science from the University of California at Berkeley. Shari serves on the non-profit Advisory Committee for the Financial Accounting Standards Board (FASB), and the Boards of the Association for Enterprise Opportunity and Calvert Foundation.
About USADF
USADF is an independent Federal U.S. Government Agency dedicated to increasing incomes, creating jobs, and giving hope to Africans in the most vulnerable households and communities. USADF works directly with marginalized populations through economic development grants that produce change in over 20 conflict and post-conflict countries in Africa. More than 1.25 million Africans currently benefit from USADF programs in Africa. See www.USADF.gov.