Economy & Politics

New Bank of Mauritania (NBM) appoints new directors

James Clayton, Chairman of the Board of Directors of WMR and PCA of NBM.

The New Bank of Mauritania (NBM) has appointed new directors following the restructuring of the bank’s shareholders. The new Board of Directors formed at the end of the Combined General Assembly of May 22, 2020, has four (04) members elected for their leadership, their vision and their desire to participate in the development of Mauritania.

Thus, the following are appointed Directors for terms of four years:

-Mr James Clayton, Chairman of the Board of Directors

-Mr JD Diabira, Managing Director of Westbridge Mortgage REIT

– Mr. Jacques Raiche, Administrator

-Maitre Sylvère Koyo, Administrator

The General Assembly approved the appointment of three other directors who will be co-opted shortly. Thus, the recomposition of the Board of Directors will now meet the requirements of banking regulations in terms of governance of credit institutions. For James Clayton, the new Chairman and otherwise Chairman of the Board of Westbridge Mortgage REIT, “the advent of world-class oil and gas production, the shortage of adequate housing and real estate, and the revitalizing the microfinance sector in Nouakchott are major catalysts helping to stimulate unprecedented economic growth in the country ”.

Westbridge Mortgage REIT is a financial institution specializing in financing real estate in Canada. From 2002 to 2014, Westbridge was a subsidiary of the mortgage securitization firm Riskmont Institutional Loans Trading, a firm sold in 2013 to US interests. Since 2014, it has operated as Westbridge Mortgage REIT with bases in Ottawa and Calgary. Today, the group’s expansion in Africa is reflected in its Holding Westbridge Africa.

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