The Commonwealth Development Corporation, the Government agency
which invests in developing countries, is to lose its corporate
communications director a year before its planned privatisation.
Incumbent Sean Magee, who has held the post for three years, is leaving
at the end of the year to become the representative for the Economic
Development Finance Institutions, the Brussels-based organisation which
brings together the international development agencies of individual EU
Magee reports to Commonwealth Development Corporation chief executive
Roy Reynolds and oversees a team of five, covering internal and external
communications. Magee’s replacement will also cover investor relations,
a new reponsibility for the post, arising from the agency’s pending
privatisation, which is due at the end of next year.
The Commonwealth Development Corporation is keen to raise its profile in
order to attract potential investors but also to reassure its current
partners, including development charities, that it will remain committed
to investing in the developing world after privatisation.
The corporation invests in private sector economic generation projects
in 50 developing countries, 70 per cent of which are members of the
Its largest area of activity is India and Pakistan, followed by
sub-Saharan Africa. The agency is primarily funded by the Government,
which lends it pounds 755 million annually, via the Department of