Team & board
Board
Executive team
Project and ops teams
Where we work
The countries listed below
refer to the offices of our team
Colombia
Kenya
Morocco
Peru
United states
Board
Jonathan Bailey
Chair of the board
Jonathan Bailey
Jonathan is Managing Director and Head of Environmental, Social & Governance (ESG) Investing at Neuberger Berman. He oversees ESG and impact investing strategies across public equities, fixed income and private markets for the firm’s $285 billion in assets under management.
Previously, he was an Associate Partner in McKinsey & Co.’s New York office where he led the firm’s sustainable and impact investing work with development finance institutions, institutional investors and private equity funds. He was the co-founder and global leader of the Focusing Capital on the Long Term initiative which McKinsey established with BlackRock, the Canada Pension Plan Investment Board, Dow and Tata Sons. The initiative, later spun out as an independent non-profit called FCLT Global, works with leading institutional investors and companies to encourage a more long-term and impact oriented approach to business. He has also worked for the Tony Blair Africa Governance Initiative where he was a founding member of the initiative’s pilot project in Rwanda. His other profesional experience includes time at the World Bank Group in Kenya and at former Vice President Al Gore’s sustainable investment fund Generation Investment Management in the United Kingdom. Jonathan holds an MBA (with High Distinction) from Harvard Business School, an MPP from the Harvard Kennedy School of Government, and an MA(Oxon) in History from the University of Oxford.
Barbara Lee
Barbara Lee
Barbara is an economist, advisor, and consultant with over twenty-five years of experience in the area of economic development policy and finance.
She served in a variety of managerial and senior advisor positions at the World Bank, working on strategy, business planning, operations, and organizational issues. She authored numerous corporate reports, in areas such as organizational effectiveness, business metrics, impact measures, and the most recent World Bank Group (WBG) Strategy. She has also authored analytic reports for country clients on issues such as privatization, public-private partnerships, investment climate and infrastructure regulation, and has advised and led policy discussions with senior government officials. On behalf of the WBG, Barbara led global initiatives—such as the Working Party on Aid Effectiveness–and contributed to the design and implementation of multi-stakeholder programs at the global and country levels. She also has experience in the public, private, research and academic arenas in Sweden, including as a university lecturer, as a Senior Advisor at the Swedish aid agency (Sida). Barbara has a PhD and MA in Economics from the University of Uppsala (Sweden).
Daniel Gonzales
Daniel Gonzales
Daniel is Program Officer at the International Migration Initiative (IMI) at Open Society Foundations.
He leads IMI’s engagement with the private sector around the world. He was formerly Program Director at Fundación Avina, where he lead the foundation’s international work and its migration program. He created the migration program in 2010, initially focusing on North and Central America; it now includes South America as well. Daniel was one of the founders of the Central America and Mexico Migration Alliance (CAMMINA), a funder collaborative that has invested over $12 million US in the region since its creation in 2011. Daniel also led Avina’s Business and Technology strategy, combining state-of-the-art technology with high-impact business models. He has 16 years of experience developing public-private partnerships for sustainable development in more than 25 countries. He serves on the board of directors of several organizations, including social enterprises, impact investment funds, and high-tech companies. Daniel was a professor corporate social responsibility at the Universidad de los Andes Business School in Colombia. He holds a Global Executive MBA from Georgetown University and the ESADE Business School in Spain, as well as a degree in Industrial Engineering from the Universidad de los Andes.
David Goslin
David Goslin
David is a Managing Director at Deloitte Consulting LLP, based in New York City, where he advises banking clients undertaking business transformation programs in matters related to strategy, operations, and technology
Since 1994, during his tenure as a consultant, David has worked with some of the most widely recognized financial organizations in the United States and Latin America. Prior to entering the consulting profession, David was a Vice President at NationsBank (now known as Bank of America) in Miami, Florida, where he worked as an executive in a number of business areas. David has often been a speaker and panelist at industry events in both Latin America and the United States, presenting and discussing industry trends. He has been a board member for nonprofit organizations in the communities where he has lived; including JA Mexico (Junior Achievement), where he often led Deloitte volunteers in teaching programs at schools in low income communities within Mexico City. He holds a Bachelor of Arts in Economics from Centre College in Danville, Kentucky, and an MBA in Finance from Tulane University, New Orleans, Louisiana.
Kenroy Dowers
Kenroy Dowers
Kenroy Dowers is the Group Managing Director for Strategy and Investments at Atlas Mara and has over 20 years of experience investing in financial institutions in emerging markets. In addition to his responsibilities for finance and accounting at the firm, he also oversees all strategic investments, fund raising, M&A and strategic partnerships for Atlas Mara Group and its subsidiary banks. He also serves as the Chair of the Finance and General-Purpose Committee for Union Bank of Nigeria, where Atlas Mara is the largest shareholder. Prior to joining Atlas Mara, Kenroy was the Global Head for FIG for the IFC. In this capacity he managed a portfolio of investments in financial institutions of over USD10 billion and led investments in IFC’s emerging markets portfolio in banking, capital markets, insurance, and special situations. He has led and completed transactions in LATAM, EMEA, sub Saharan Africa and Asia. At the IFC he spearheaded the growth of IFC’s business lines in housing finance, distressed assets and insurance. He also served on several boards of IFC’s investee companies and was IFC’s global client lead for major relationships such as Swiss Re, Munich Re, AXA, Citibank, Deutsche Bank, JP Morgan and Credit Suisse. Prior to the IFC, he held senior positions in financial services and accounting, including positions at the Inter-American Development Bank and Freddie Mac. Kenroy, a Fulbright Scholar, holds a Ph.d. in Financial Economics and an MBA in Corporate Finance at the State University of New York. He was also awarded the Charles Diffendorf Award in Finance during his graduating class.
Edna Kwinga
Edna Kwinga
Edna is a senior Human Resources leader with relevant experience in the areas of strategic Business Partnering, organizational design, budget management, board level reporting, people management and development, compensation and benefit reviews, succession planning and resourcing. She holds a Bachelor’s degree from University of Wisconsin – Eau Claire (UWEC); and is a full member of the Institute of Human Resources Management (F-IHRM). Edna’s expertise spans over 15 years having worked as Head of HR at a fast growing startup in Kenya and previously as HRBP at Deloitte EA.
Maria Margarita Zuleta
Maria Margarita Zuleta
María Margarita “Paca” Zuleta is a Colombian lawyer with 32 years of experience in project development, 20 years in the private sector, 8 years in the Colombian government and almost 4 years in the Academia and as independent consultant. Zuleta acted as deputy Minister of Justice and was the head of the Presidential Anti-Corruption Program of Colombia. She wrote together with civil society organizations, the government and private sector an anti-corruption action plan, which was edited and published in 2005 which included the creation of a procurement agency. In 2012, Zuleta was named the first head of Colombia Compra Eficiente, the public procurement agency created in 2011. In the Colombian public procurement agency, Zuleta led the transformation of the public purchasing system, designed and implemented several framework agreements, an e-procurement strategy, a training program for public buyers, and the open data strategy for information on the Colombian public procurement system taking advantage her private and public experience in procurement. In 2017, Zuleta joined the School of Government of the Universidad de los Andes in Bogotá and in 2019 she became its dean where she does research on governance, public procurement and corruption issues in addition of teaching politics and policy and policy implementation. Zuleta consultancy work is mainly with multilateral development agencies and includes evaluation of public procurement systems, training, development of action plans to intervene procurement systems from legal and policy framework to operations and training.
Avnish Gungadurdoss
Avnish Gungadurdoss
Avnish leads and coordinates Instiglio’s global strategy and RBF Practice, and provides technical direction in key projects.
He also developed and now steers the Performance Management practice. Avnish formerly worked for MIT’s Poverty Action Lab (J-PAL), for the World Bank, and as a consultant to a DFID challenge fund. Mr. Gungadurdoss holds a MPA/ID from the Harvard Kennedy School, a diploma in performance management for non-profits from Harvard Business School, and a BA in economics and math from Dartmouth College. He was awarded the Echoing Green Fellowship and was elected as one of the “30 under 30” social entrepreneurs for his work with Instiglio. He is also a member of the Advisory Board of Impact.
Executive team
Avnish Gungadurdoss
Founder & Managing Partner
Avnish Gungadurdoss
Co-Founder and Managing Partner
Avnish leads and coordinates Instiglio’s global strategy and RBF Practice, and provides technical direction in key projects.
He also developed and now steers the Performance Management practice. Avnish formerly worked for MIT’s Poverty Action Lab (J-PAL), for the World Bank, and as a consultant to a DFID challenge fund. Mr. Gungadurdoss holds a MPA/ID from the Harvard Kennedy School, a diploma in performance management for non-profits from Harvard Business School, and a BA in economics and math from Dartmouth College. He was awarded the Echoing Green Fellowship and was elected as one of the “30 under 30” social entrepreneurs for his work with Instiglio. He is also a member of the Advisory Board of Impact.
Siegrid Holler
Partner
Siegrid Holler
Partner
Siegrid is a Partner and founding member of Instiglio. She directs Latin America’s strategy and the operations in the region.
Siegrid also provides technical and strategic advise for key projects globally. As an example, she worked in the first Social Impact Bond ever implemented in a low- or middle-income country, in the first Outcomes Fund in Africa, and in a Performance Based Grant of USD 300 million in Egypt. Her proyects cover sectors such as education, poverty alleviation, early childhood development, workforce development, conversation and environment, health, and governance. Siegrid has advised governments, foundations and non-profit organizations, as well as international development organizations such as the World Bank, the Interamerican Development Bank, and the Swiss, Canadian and British Cooperation.
Gareth O’Hagan
Partner
Gareth O’Hagan
Partner
Gareth is our Partner overseeing Instiglio’s work and presence across Africa, as well as our global people, finance and operations functions. As a member of the Partner group, he actively contributes to Instiglio’s impact strategy and implementation, and he ensures that as Instiglio continues to grow we maintain high levels of organizational efficiency, quality, performance and effectiveness. Gareth joined Instiglio in 2023 after almost 25 years working in highly regarded business, strategy, technology and development consultancies in Europe, North America, Asia and Africa, mostly advising on public sector reforms and effectiveness, in several sectors including extractive industries, agriculture, energy, water, welfare, security, investment, public financial management and governance. His most recent role prior to joining Instiglio was Regional Director for Africa at Adam Smith International. He has advised several international development institutions, including especially the DFID / FCDO, the World Bank, GIZ and EU, and has worked extensively in many countries across sub-Saharan Africa. This extensive experience enables Gareth to play a lead role in our work on organizational reform, transformation and effectiveness of Government institutions across Africa. Gareth has been based in Nairobi since 2016. He holds a BA (Economics) from Trinity College Dublin and a Master of Management Science from the Smurfit Graduate Business School (at University College Dublin).
Julia Loraque
Chief of Staff
Julia Loraque
Chief of Staff
Julia serves on Instiglio’s leadership team. Her main mandate is ensuring the organization is focused on the highest-level priorities; solving problems across teams and integrating workstreams, and linking the leadership team and the broader organization. As Chief of Staff, Julia is accountable for various areas: she manages the design and execution of the overall strategy and annual KPIs, manages the fundraising team, leads all strategic communications and brand positioning, leads and coordinates all engagement with Instiglio’s Board of Directors, and handles special projects (for example, managing the organization-wide response to COVID or ensuring the success of a new office in Rabat).
With over ten years of experience within the field of international development, Julia formerly worked as a consultant, conducting research and analysis on the socioeconomic status, policies, and rights violations of ethnic minorities in Colombia, Peru and Central America. She also advised on the implementation of inclusive social development initiatives for local governments, foundations, and indigenous communities in Costa Rica, Panama, Ecuador and Argentina. She holds a BA in Philosophy and International Relations from Boston University.
Sebastian Chaskel
Associate Partner
Sebastian Chaskel
Associate Partner
Before joining Instiglio, Sebastian spent half a decade with Innovations for Poverty Action (IPA), where he founded and led the Colombia and Dominican Republic country programs, directed the Peace and Recovery program, and most recently, managed the organization’s flagship response to the COVID-19 pandemic by supporting governments in 10 countries with rapid data and analysis. Sebastian has also held research and program management positions at the Government Performance Lab at the Harvard Kennedy School, the Council on Foreign Relations, the Cerrejón Foundation, and Princeton University’s Innovations for Successful Societies. Sebastian has an MPA from Princeton University’s Woodrow Wilson School and a BA in Anthropology and International Relations from Tufts University.
Sebastian Osorio
Associate Partner
Sebastian Osorio
Associate Partner
Sebastian supports our strategy in Latam as Colombia Manager by collaborating with public and social sector partners.
He has dedicated his career to tackling inequality, illegality, and violence in Colombia and around the world. Prior to joining Instiglio, he served as Advisor to Governor Sergio Fajardo in Antioquia. Sebastián brings a decade of research, analytical and leadership experience from his time spent at the Central Bank of Colombia, working as a strategy consultant and leading Civic Engagement in Sergio Fajardo’s 2010 presidential campaign. He holds a Master in Public Administration from Columbia University and a BA in Economics from Universidad Eafit. He also completed the Regional Development graduate program from Universidad de Los Andes.
Nicole Pflock
Associate Partner
Nicole Pflock
Associate Partner
Nicole is an Associate Partner at Instiglio, where she leads the Nairobi office and advises governments, funders, and service providers on the use of outcomes-based funding mechanisms to enhance the effectiveness of programs across various sectors, such as health, education, institutional strengthening, and poverty alleviation. For example, she led the design of a results-based financing scheme to improve the performance of the water and electricity utilities and the regulator in Sierra Leone. Nicole also supported the design of several performance-based intragovernmental transfer systems in Egypt, Sri Lanka, and Peru.
Before joining Instiglio, Nicole worked with Innovations for Poverty Action in Colombia, supporting project development and focusing on a randomized control trial that rigorously tests the impact of introducing flexible features in microfinance loans. Nicole also worked as a consultant at PricewaterhouseCoopers and Ernst & Young, where she focused on the execution of structured evaluations of the risk management system and trading processes of financial institutions.
Benjamin Stephens
Associate Partner
Benjamin Stephens
Associate Partner
Ben manages projects advising Instiglio’s partners on aid-effectiveness strategies, particularly Results-based Financing.
Ben is an economist with 8 years of experience at consultancies and think tanks focused on furthering the impact of development organizations and programs in education, labor markets, and health. Ben was a Knox Fellow at the Harvard Kennedy School, where he completed an MPP, and a Perron Scholar at the University of Western Australia, where he gained combined degrees in Economics and Arts, with First Class Honours in the former.
Marcel Camilo Chingaté Hernández
Finance Director
Marcel Camilo Chingaté Hernández
Finance Director
Marcel Camilo directs the global financial and administrative strategy. Before joining Instiglio, he worked as Regional Head of Finance for two groups of IT-based start-ups, and as a consultant at KPMG in Deal Advisory services where he focused on cross-border M&A transactions for clients of different industries. Besides, he founded a financial advisory boutique. He is a Certified Public Accountant and holds a Master’s of Science in Finance from Grenoble Ecole de Management.
Justine Nzyoka
People Director
Justine Nzyoka
People Director
Justine partners with the global leadership and teams to develop and implement people strategies covering acquisition, development, culture and engagement. She has over fifteen years’ experience in HR and HR Consulting in the East Africa region.
Previously, she worked as Head of People for a social change for youth organization in East Africa and at Deloitte in both internal and consulting departments as Senior Manager and Human Capital Consulting Manager respectively. Her areas of experience include talent management, organization design, reward, HR policy development, and performance management systems. She holds a Master of Business Administration degree in Strategic Management from Daystar University and is a Certified Human Resource Professional (CHRP).
Managers team
Maria Fernanda Ávila Ruiz
Manager
María Fernanda Ávila Ruiz
Manager
Maria Fernanda has dedicated her career to projects in education, institutional strengthening, and poverty alleviation in low and middle-income countries. Before coming to Instiglio, she led the implementation of the open government initiative Centro de Gobierno Local and managed the program Cuidado Local in Bogotá, which aims to contribute to equal opportunities for women through the expansion and qualification of the institutional offer of care services. María Fernanda has over seven years of professional experience and has managed consultancy projects with the World Bank, the University of Notre Dame, and UNICEF in Colombia, the United States, Brazil, and Laos. She holds a Master of Public Administration from the School of International and Public Affairs (SIPA) of Columbia University. Here, she also completed a double specialization in management and gender & public policy. María Fernanda also holds a double BA in Economics and Political Science from Universidad de los Andes.
Dalal Azzouzi
Manager & Morocco Office Head
Dalal Azzouzi
Manager
Dalal provides technical support to Instiglio’s RBF and performance management projects. Prior to joining Instiglio, Dalal designed and implemented programs in the social innovation and employment sectors in Morocco at the New Work Lab and the Moroccan Center for Innovation and Social Entrepreneurship.
She also has experience leading projects in digital transformation and sales force development at Procter and Gamble and GlaxoSmithKline. Dalal holds a Bachelors and a Masters in Industrial Engineering from the Mohammadia School of Engineers, as well as a Masters of Public Affairs – International Development from Indiana University.
Juan Pablo Belalcázar
Finance Controller
Juan Pablo Belalcázar
Finance Controller
Douglas Emeott
Senior Manager
Douglas Emeott
Senior Manager
Douglas provides technical support and project management to Instiglio’s projects.
Formerly, Douglas was an Analyst at the World Bank, while other previous experiences include USAID contractor management in Washington D.C. and project management with Habitat for Humanity project management in Guatemala. Douglas holds a Master’s Degree in International Relations & International Economics from Johns Hopkins University (SAIS) and is a graduate of the University of Michigan.
Pierre Hodel
Manager
Pierre Hodel
Manager
Hollie Lippert
Senior Manager & Nairobi Office Head
Hollie Lippert
Senior Manager & Nairobi Office Head
Hollie provides technical support to Instiglio’s RBF and Performance Management projects in Africa. Prior to joining Instiglio, she worked for One Acre Fund in East Africa, contributing to the social enterprise’s operations and financial analysis.
Hollie also worked for Innovations for Poverty Action (IPA) in Ghana, supporting a large-scale randomized control trial, and for the real estate practice at PricewaterhouseCoopers. She holds a Masters in Public Administration (MPA) with an economic policy emphasis from the London School of Economics (LSE) and a Bachelors in Economics and Accounting from Marquette University.
Angélica Palma
Manager & Bogotá Office Head
Angélica Palma
Manager
Angélica has 11 years of experience on programme management and international development projects. Her work has focused on institutional strengthening, good governance and evidence-based development, emphasising social, regional and rural inclusion. Before joining Instiglio, Angélica held technical and managerial positions at the British Prosperity Programme in Colombia, the National Statistics Department (DANE), and the Ministry of Agriculture and Rural Development. She holds a MSc. in Public Management and Governance from the London School of Economics and Political Science (LSE), and a BA in Economics from the Universidad de los Andes.
Jorge Andrés Ramón
Manager
Jorge Andrés Ramón
Manager
Senior Associates team
Margrethmary Anyanwu
Senior Associate
Margrethmary Anyanwu
Senior Associate
Francisco García Jordan
Senior Associate
Francisco García Jordan
Senior Associate
Francisco is an experienced project manager with a strong research and data analysis background. Prior to joining Instiglio, Francisco worked for Pegasys, a public sector consultancy in South Africa, the Food and Agriculture Organization of the United Nations, and Laterite, a data research and analytics firm operating across East Africa. He has developed and executed large-scale full-cycle consulting, research, and data collection projects in East Africa, Southern Africa, the Middle East, and the Caribbean. His expertise lies at the intersection of research and implementation, having worked on projects related to agriculture, livelihoods, and urban planning. Francisco holds a BSc in Economics from the Ludwig Maximilian University of Munich and a master’s degree in Specialized Economic Analysis from the Barcelona Graduate School of Economics. Additionally, he has completed an intensive data science course at Le Wagon in Lisbon.
Pablo Hernández
Senior Associate
Pablo Hernández Jurado
Senior Associate
Pablo provides technical support in the design and implementation of Instiglio’s Results-Based Financing and Performance Management projects. He helps catalyze the momentum of RBF and its global expansion.
During his time at Instiglio, he has supported the Millennium Challenge Corporation in the institutionalization of RBF, SIBs.CO in the design and implementation of the Colombian Outcomes Fund’s first SIB and the Moroccan government in the scale-up of its RBF program. Before joining Instiglio, he spent five years as a junior consultant at Economica Consultores, working for clients across both the private and public sectors in Colombia, completing economic analysis for infrastructure and energy projects. Pablo holds Bachelor’s Degrees in Economics and Philosophy from the Universidad de los Andes.
Melissa Kaye Kaminker
Senior Associate
Melissa Kaye Kaminker
Senior Associate
Melissa has over a decade of international development experience designing, managing and evaluating social impact programs in emerging markets. Prior to joining Instiglio, Melissa worked for One Acre Fund, where she was responsible for guiding operational decision-making with strategic partners entering new markets. Melissa also founded her own consultancy practice supporting social enterprises in East Africa to develop and scale impactful programs. Her work has been cross-sectoral, with a particular emphasis on livelihood and financial inclusion programmes. Melissa holds an MSc in Human Rights and Development from the London School of Economics and a BA in Conflict Studies and International Relations from the University of London.
Diana Muthumbi
Senior Associate, People Team
Diana Muthumbi
Senior Associate, People Team
Florence Oberholzer
Senior Associate
Florence Oberholzer
Senior Associate
Florence provides strategic and technical support to Instiglio’s RBF projects in Morocco. Before joining Instiglio, Florence was an ODI fellow in Sierra Leone, first working on macro-fiscal projections at the Ministry of Finance and then supporting the Mayor of Freetown in rolling out a property tax reform. Prior to that, she led the implementation of a Harvard-led Randomized Control Trial in rural DR Congo and spent extensive time volunteering, studying and doing field research in Latin America. Florence holds an MPhil in Economics from Oxford University and a BA in Economics, Mathematics and International Relations from McGill University.
Santiago Ospina Sierra
Senior Associate
Santiago Ospina Sierra
Senior Associate
Before joining Instiglio, Santiago worked at the National Planning Department of Colombia. He was the project leader of the book Visión Colombia 2050, a long-term proposal of development strategies for the country. Before that, he worked at the Presidency of Colombia, leading the design and implementation of 16 delivery units at the subnational level. Santiago is a professor in public procurement at the School of Government of Universidad de los Andes and holds a BA and a MA in Economics from the same University.
Lucía Pérez Villar
Senior Associate
Lucía Pérez Villar
Senior Associate
Lucia provides technical support to Instiglio’s RBF global projects. Before joining Instiglio, Lucia worked at the Rwanda Development Board where she led strategy work on investment and private sector development. Prior to that, she was a policy analyst at the OECD Development Centre working on entrepreneurship and innovation policy. Lucia holds a PhD in Economics from Kiel University, with a focus on trade and development and a master’s degree in International Economics from Universidad Autónoma de Madrid.
Pauline Urruty
Senior Associate
Pauline Urruty
Senior Associate
Prior to joining Instiglio Pauline was a Senior Consultant for a French consulting firm, Wavestone, where she worked with the French public sector on various topics: process improvement, organizational audits, privacy impact studies, and project management of state modernization programs. She holds a Bachelor’s and a Master’s degree in Economics from the University Paris-Dauphine and an MSc in International Development from the University of Manchester.
Mateo Zárate Cáceres
Senior Associate
Mateo Zárate Cáceres
Senior Associate
Mateo contributes to Instiglio’s projects, Business Development efforts, and knowledge products globally.
This has included the implementation of the Village Enterprise DIB, the design of strategies for international donors in Colombia and Peru, the launch of the COVID-19 Adaptation Fund in Rwanda and Kenya, and the publication of knowledge products on how to use incentives to generate competitiveness and technological innovation results with the World Bank and CGD respectively. Sectors where he has experience in include climate, workforce development, education, competitiveness, and poverty alleviation. He holds a BA in Economics from Universidad de los Andes, where he also worked as an undergraduate teaching assistant for the intermediate macroeconomics course. In his free time, he enjoys cooking and learning about art, design, and history.
Associates team
Camilo Arango Moncayo
Associate, Communications & Fundraising Teams
Camilo Arsngo Moncayo
Associate (Fundraising Team)
Camilo provides communications support for Instiglio and assists in the planning and execution of strategic communication plans for Instiglio projects. Before joining Instiglio he worked as the creativity leader at a Latin American tech startup, he has also worked as a freelance photographer, and has experience in design project management. He works as the pro bono treasurer of the National Flying Disc Federation of Colombia and is the representative of the administrative body in the Federation’s communications committee. Camilo was captain of his Ultimate Frisbee varsity team, has been a 2-time Pan American champion in this sport and has represented Colombia in World Cups in Europe and the United States. He is a Designer and Business Administrator from Universidad de los Andes with an academic option in photography. He has also taken courses in Sustainable Development from Columbia University, the Fundamentals of Leadership Exercise from Harvard University, and Fundamentals of Finance from the University of Pennsylvania.
Iman Bermaki
Associate
Iman Bermaki
Associate
Iman is currently a Project Associate at Instiglio. She has work experience in development, research, and education. Previously, Iman has worked as an educational facilitator and curriculum designer with the Global Scholars Program and Addictest.
She has also interned at the Obama Foundation, the office of the United Nations High Commissioner for Refugees (UNHCR), the African Leadership Group (ALG), and the United Cities and Local Governments (ULCG). Iman holds a Master’s degree in Development Studies from the Geneva Graduate Institute (IHEID), and a Bachelor’s degree in International Relations and African Studies from Al Akhawayn University in Ifrane (AUI).
Laura Daniela Díaz Higuera
Associate
Laura Daniela Díaz Higuera
Associate
Laura provides technical support to Instiglio’s RBF projects and contributes to transforming results-oriented strategies in Colombia and across the LATAM region. At Instiglio, she has supported the design of RBF mechanisms, mainly performance-based contracts in workforce development (WfD) for vulnerable migrant populations and WfD for ex-convicts for the Mayor’s Office of Bogota through the Sibs.co program. She has provided capacity-building services to NGOs, private actors and public officials in the LATAM region, aimed at properly implementing RBM and changing their practices and systems with a results-oriented vision. Laura has also supported RBF feasibility studies in multiple sectors for different international development actors, including environmental protection for WWF, pediatric cancer for UBS and child protection for SOS Children’s Villages. Finally, Laura has worked on projects related to RBF knowledge and strategy, in particular, to guide the transformation of guidelines and practices for the Millennium Challenge Corporation (MCC) and for the World Bank’s Transformative Carbon Asset Facility (TCAF).
Previously, she worked as an assistant professor of Economic History at the Universidad de los Andes in Bogota. She was also a volunteer teacher in a literacy program with the Con Las Manos Foundation. Laura holds a B.A. in Economics with a minor in Literature and Literary Creation from the Universidad de los Andes.
Oumaima Dro
Associate
Oumaima Dro
Associate
Oumaima is an Associate supporting Instiglio’s RBF projects and business development initiatives in Morocco, French-speaking Africa, and the MENA region. Before joining Instiglio, Oumaima completed a research memoir on CSR Audit in the pharmaceutical industry. She developed a CSR assessment guide and proposed a CSR audit approach for pharmaceutical companies. Oumaima is currently in her senior year at the National School of Business and Management of Casablanca majoring in Auditing and Management control, she also holds a diploma of Scientific and Technical University Studies in biology chemistry and geology from the faculty of Sciences and Technologies Mohammedia.
Sofía Escobar
Associate
Sofía Escobar
Associate
Sofia is currently a Project Associate at Instiglio. Sofia graduated from Economics with a minor in Public Policy. She has experience working with large aid organizations such as the MCC and the Global Fund where she has focused her work on improving service delivery outcomes with impact-oriented solutions. She is also currently part of the Business Development team at Instiglio.
Prior to Instiglio, Sofia was an analyst in Corredores Davivienda in the area of Economic Research, where she was in charge of preparing regular reports on financial markets and macroeconomic monitoring of Colombia and the world. Recently, she has been involved with the UN in Colombia by working with communities that were part of armed groups, particularly in supporting the commercialization of their products.
Ghita Fikri
Associate
Ghita Fikri
Associate
Ghita provides technical support to Instiglio’s RBF projects. Before joining Instiglio, she was a Program Officer at the Research Institute for Solar Energy and New Energies where she helped design and implement funding programs for collaborative R&D&I projects in the field of Renewable Energies in Morocco. Prior to that, as a Junior Consultant at PUR Projet, she helped design and implement long-term socio-environmental projects involving agroforestry, land restoration and sustainable agriculture for private companies wishing to restore their ecosystems. She holds a Master’s degree in Environmental Engineering from CentraleSupelec (Paris-Saclay University).
Alejandra Garay Serna
Associate
Alejandra Garay Serna
Associate
Sara María González Lopera
Associate
Sara María González Lopera
Associate
Paola Gutierrez Pardo
Associate, People Team
Paola Gutierrez Pardo
Associate (People Team)
Michael Kiema
Associate
Michael Kiema
Associate
Michael provides technical support to the development and improvement of Instiglio’s Results-Based Financing and Performance Management projects and contributes to Instiglio’s government engagement and delivery support. Previously, he worked as an assistant investment analyst at Cytonn Investments Management, identifying and analyzing investment opportunities in Kenya. He holds a Bachelor’s in Actuarial Science from Jomo Kenyatta University of Agriculture and Technology and a Master’s in finance from the University of Nairobi.
Cristina Mendoza Mora
Associate
Cristina Mendoza Mora
Associate
Cristina provides technical support to Instiglio’s RBF projects. Prior to Instiglio, she collaborated at the Colombian Democracy Observatory as a research assistant in fields related to public opinion and political behavior in Colombia.
She also participated in Fundación Con Las Manos as a math teacher for children living in vulnerable areas of Bogotá. She is currently pursuing a Bachelor’s degree in Economics with a minor in Law and State.
Tabitha Ngugi
Associate
Tabitha Ngugi
Associate
Tabitha provides technical support to the development and improvement of Instiglio’s Results-Based Financing and Performance Management projects. Previously, she worked as a junior regional accountant at KLM Royal Dutch Airlines East Africa Head Office where she contributed to the accurate and punctual handling of the accounting processes.
Tabitha holds an MSc in Economics from the Barcelona Graduate School of Economics and a BBS in Financial Economics from Strathmore Institute of Mathematical Sciences.
Mariana Noguera Pizano
Associate
Mariana Noguera Pizano
Associate
Mariana provides technical support in designing RBF instruments and contributes to the global expansion of innovative finance strategies. During her time at Instiglio, Mariana has provided support in the design of Performance-Based Contracts and Social Impact Bonds in workforce development and early childhood development in Bogotá for public and private actors. She has also worked in increasing RBF knowledge and capacity of public servants in Colombia and education specialists from the Inter-American Development Bank (IDB). Lastly, Mariana has worked on multiple climate incentives projects with actors such as the Center for Global Development (CGD) and the World Bank’s Transformative Carbon Asset Facility (TCAF). Before joining Instiglio, Mariana was an intern at the Alexander von Humboldt Institute, where she explored the promotion of different value chains that help protect Colombian biodiversity. Mariana holds a Bachelor’s Degree in Economics with a minor in Sociology from the Universidad de los Andes.
Ana María Pérez
Associate
Ana María Pérez
Associate
Ana Maria is an Associate at Instiglio. She supports Instiglio’s technical design of RBF and PM projects as well as the BD strategy, mainly in Latin America, including an education Project with the Ministry of Education in Peru and providing recommendations to the IDB’s Educación Mesoamerica Initiative.
Previously, she worked as a research assistant for the Political Science Department at Universidad de los Andes in Bogotá Colombia. She has a BA in Economics and a BA in Political Science from the same university.
Gabriela Vargas
Associate
Gabriela Vargas
Associate
Analysts team
Sofía Abondano Arbeláez
Analyst
Sofía Abondano Arbeláez
Analyst
Sofía provides technical support to Instiglio’s Results-Based Financing and Performance Management projects. She recently graduated with a Master’s degree in economics from Universidad de Los Andes. As Project Analyst at Instiglio, Sofía has been part of the team that is supporting Millenium Challenge Corporation (MCC) to strengthen its use of RBF to amplify the impact of its investments. She has also contributed to the technical assistance that Instiglio is providing to SIBs.CO for the consolidation of an RBF ecosystem in the Colombian workforce development sector. Finally, Sofía has worked in a diagnostic to identify opportunities and challenges to implement incentive mechanisms in education projects in Colombia supported by Jacobs Foundation. Before joining Instiglio, Sofía was a research assistant in two opportunities: First, she supported a Universidad de Los Andes project and the IDB that studied the education dynamics during the pandemic in Colombia, Brazil, and Uruguay. Second, she assisted in a project of Planisphera, a Mexican environmental consulting company, that consisted in studying an economic case for biodiversity affairs.
Santiago Álvarez
Analyst, Finance & Operations Team
Santiago Álvarez
Analyst (Finance & Operations Team)
Rim Belkouadssi
Analyst
Rim Belkouadssi
Analyst
Camiel Boukhaf
Analyst
Camiel Boukaf
Analyst
Camiel Boukhaf provides technical support to Instiglio’s Results-Based Financing and Performance Management projects. Before coming to Instiglio, Camiel worked in the impact team of the Transitional Development Assistance-department at GIZ, where he was responsible for developing tools to systematically bridge the gap between scientific evidence and development interventions targeting conflict, food security, and social cohesion. Prior to that, he worked as a research assistant at ETH-Zürich, studying the interplay between war-making and state-building, ethnic conflict, state-repression, and sustainable resource extraction in sub-Saharan Africa. Camiel holds an MA in Comparative Politics from ETH-Zürich, specializing in conflict studies and applied statistics, and a BSc. in Political Science and Economics from the University of Amsterdam.
Gabriela Casallas
Intern
Sofía Abondano Arbeláez
Analyst
Manuela González Gómez
Intern
Manuela González Gómez
Intern
Manuela is currently a Project Intern at Instiglio where she has supported the technical design of a Social Impact Bond. She is an industrial engineer with the Cum Laude distinction from the Universidad Industrial de Santander. She has experience in quantitative and qualitative analysis acquired in developing her research work: an exploratory literature review in science, technology, and innovation parks. She is a detail-oriented person with excellent teamwork skills and a strong desire for social service.
Prior to joining Instiglio, Manuela was an intern at the Bogota office of Enel, a leading power generation company, where she supported the billing department of all customers in the city and led a team as Scrum Master in the implementation of an internal digitalization project.
Nicolás Hernández Muñoz
Analyst
Nicolás Hernández Muñoz
Analyst
Nicolás provides technical support to Instiglio’s Results-Based Financing and Performance Management projects. Before joining Instiglio, he worked as a graduate teaching assistant at Universidad de los Andes and as a quantitative researcher in a consulting firm. He also worked providing technical support in strategic and financial planning at a state entity. He has had experience in statistical analysis, impact evaluation, financial tracking, and conducting quantitative and qualitative research. He is interested in government, sustainable development, peacemaking, and policy engagement and advocacy. He holds a BA in Economics and History from Universidad de los Andes. He is currently pursuing a master’s degree in Political Science at the same university.
Sitara Kumbale
Analyst
Sitara Kumbale
Analyst
Sitara provides technical support to Instiglio’s Results Based Finance and Performance Management projects. Prior to Instiglio, Sitara worked as an Advanced Analytics Consultant at Wells Fargo, where she supported the analytic needs of teams worldwide. She has worked with the UNDP on the gender and environmental impact of COVID-19 and consulted for NGOs in India, Ethiopia and Kenya on topics of education, digital inclusion, gender-based violence, and financial literacy. Sitara holds a Bachelor’s degree in Engineering from the National Institute of Technology Karnataka in India and is working on her Master’s degree in Data, Economics, and Development Policy from the Massachusetts Institute of Technology.
Derli López Muñoz
Assistant, Finance & Operations Team
Derli López Muñoz
Assiatant (Finance & Operations Team)
Derli is a Public Administrator from the Higher School of Public Administration E.S.A.P. She supports the operations team at Instiglio. Prior to joining Instiglio, she worked at her university in the PIFAT program (Comprehensive Program for Academic and Territorial Strengthening), where she was in charge of PDET municipalities in the departments of Cauca, Huila, Caquetá, and Bajo Putumayo. She provided technical, administrative, and research support focused on providing technical assistance and training to municipalities to strengthen their institutional capacities in relation to new topics in public management: territorial planning and risk management, public finance, project formulation, cultural management, and orange economy, public policies, and associativity. She also supported the development of the institutional characterization that allowed the formulation of an intervention proposal. Additionally, she is part of the Neighborhood Community Action Board of Veraguas Central. Initially, she served as a delegate of Asojuntas and currently works as a conciliator. Among her activities, she supports the organization of all integration events organized by the Veraguas JAC and the local government of Puente Aranda.
Daniela Machuca Moreno
Analyst
Daniela Machuca Moreno
Analyst
Daniela provides technical support in designing RBF agreements as well as in the capacity-building strategies for the adoption of RBF mindsets into implementers and donors, contributing to the global expansion of innovative finance strategies specially for the employability, migration, and climate spaces. During her time at Instiglio, Daniela has provided support in the design of Performance-Based Contracts and Social Impact Bonds in workforce development in Colombia for public and private actors, targeting different types of vulnerable populations, including populations released from prison and migrants. She has also worked in capacity-building strategies to include innovative finance strategies for global implementers, and bilateral and multilateral institutions. Lastly, Daniela has performed several analyses for the involvement of climate-smart financial instruments in the adaptation and mitigation space. Before joining Instiglio, Daniela worked at the Central Bank of Colombia and diverse consultancy firms related to international cooperation affairs in the energy, commerce, and rural sectors. Daniela holds a Bachelor’s Degree in Economics from the National University of Colombia and aspires to obtain her Master’s Degree in Economics in 2023.
Doreen Malasi
Analyst, People Team
Doreen Malasi
Analyst (People Team)
Michael Maranga
Intern
Michael Maranga
Intern
Obed Matara
Intern
Obed Matara
Intern
Juan Diego Mayorga Durán
Analyst
Juan Diego Mayorga Durán
Analyst
Juan Diego provides technical support to Instiglio’s Results Based Finance and Performance Management projects. Before joining Instiglio, he worked for two years as a research associate in UR Equidad research team at the Universidad del Rosario around issues such as the labor market, migration, gender, financial inclusion, and others. He also participated in consulting projects for different organizations at an international and national level. Juan Diego is an Economist and Master in Economics of Public Policies from the Universidad del Rosario.
María José Mejía Martínez
Analyst
María José Mejía Martínez
Analyst
María José Mejía is currently a Project Analyst at Instiglio. She is a Political Scientist and Professional in Government and Public Affairs from Universidad de los Andes. Previously, María José was an intern and research assistant at Fedesarrollo for 2 years, where she worked on climate change, sustainable development and impact investment projects, conducted a process evaluation of a Social Impact Bond, and was an editorial assistant of a periodical publication called Coyuntura Económica.
Laura Mejía Villada
Intern
Laura Mejía Villada
Intern
Alejandro Mojica Godoy
Analyst
Alejandro Mojica Godoy
Analyst
Alejandro holds a degree in Government and International Affairs. He is currently pursuing a Master’s degree in Economics. Before joining Instiglio, he had some experience in public policy and consulting in different areas, such as health, peace building and education.
Myriam Moussali
Intern
Myriam Moussali
Intern
Mark Mugendi
Intern
Mark Mugendi
Intern
Camille Nasser-Buchet
Analyst
Camille Nasser-Buchet
Analyst
Lyna Nossir
Analyst
Lyna Nossir
Analyst
Lyna is an analyst in the Rabat office and provides analytical support to Instiglio’s RBF projects. Prior to joining Instiglio, Lyna worked in various sectors such as the Health and Pharma industry in Sanofi, where she carried communication and marketing related tasks using data to provide human-centered advertisements for medical and the Education sector as a project manager in charge of launching IB schools and providing advisory services to numerous investors across the African continent. Lyna holds a Bachelor’s degree in Business Management from the African Leadership University.
Stacy Obiero
Intern
Stacy Obiero
Intern
Maria Camila Osorio
Analyst
Maria Camila Osorio
Analyst
Maria Camila Osorio is currently a Project Analyst at Instiglio. She is an Economist and Professional in Government and Public Affairs from Universidad de Los Andes. Previously, María Camila interned at the Subdirección de Financiamiento con Organismos Multilaterales y Gobiernos at Ministerio de Hacienda y Crédito Público, updating information on the financial conditions of multilateral entities and preparing reports related to the valuation of credits contracted. Later, she worked as a junior consultant at Oportunidad Estratégica, where she carried out institutional strengthening, strategic planning, and policy evaluation projects.
Rime Ourhim
Intern
Rime Ourhim
Intern
Maria Del Mar Oyola Valencia
Analyst
Maria Del Mar Oyola Valencia
Analyst
Maria del Mar provides technical support to Instiglio’s Results Based Finance and Performance Management projects. She recently graduated from her Bachelor’s degree in economics and a minor in public policy from Universidad de los Andes. She is passionate about public policy evaluation, development programs, poverty, and inequality. She seeks a balance between the social and the economic in her professional life, so she is highly motivated by issues related to human rights, social development, equity and justice. She considers herself someone with a desire to learn new things, exploit her knowledge, and be in constant personal growth.
Juana Rengifo
Analyst
Juana Rengifo
Analyst
Youssef Semlali Yacoubi
Analyst
Youssef Semali
Analyst
Selma Souaidi
Analyst, Finance and Operations Team
Selma Souaidi
Analyst, Finance and Operations Team
Sofía Velásquez
Intern
Sofía Velásquez
Intern
Sofia has a Business Management degree with a minor in Design from Universidad de los Andes. Her personal and academic interests are very diverse, and the university gave her the opportunity to combine them strategically. During her career in Management, she was fascinated by consulting, which allowed her to diversify her learning in various industries and implement changes that translate into better processes and greater benefits. She was part of HNMUN, the delegation from her university representing Colombia at Harvard University’s Model United Nations. During her two years as a delegate, she became highly interested in high-impact projects and understanding what the international community does to alleviate poverty and inequality and meet the Sustainable Development Goals. Also, being part of this team trained her in negotiation skills, communication, resilience, understanding of problematics, and social abilities in general. In her third year in the project, she led the Uniandes Harvard National Model United Nations 2023 team.
Maureen Waidhima
Analyst, People Team
Maureen Waidhima
Analyst, People Team
Maria Paula Zamudio
Intern, People Team
Maria Paula Zamudio
Intern (People Team)
Yannis Zanlorenzi
Intern, People Team
Yannis Zanlorenzi
Intern (People Team)