Chief Change Officer
#192 Fatou Sagna Sow Quit French Banking for a Bigger Mission in Africa—And Brought Her Family Along
Sat, 22 Feb 2025
Fatou Sagna Sow had what most would call a dream job—managing billion-dollar transactions and leading a powerhouse legal team at the world’s top banks. Then she did something unexpected: she quit. Trading Parisian luxury for Senegalese grit, she packed up her family and set out to drive real change in Africa. Now, as CEO of New Deal Consulting, she’s empowering young talent and proving that ambition doesn’t have to come with a corporate logo. Key Highlights of Our Interview: Trading Parisian Comfort for Dakar’s Call “I had a great career in France, but it wasn’t enough. Senegal was calling me—a chance to challenge myself and see if I could truly make a difference in my home country.” A Legacy for the Next Generation “As a mother, I wanted my kids to know their roots. To experience Senegal fully, so they can grow up understanding the world without barriers, enriched by both cultures.” Facing Fears and Finding Support “I worried about giving up financial security and providing for my kids, but I wasn’t alone. My strong network, including ministers and my husband’s connections, made the transition less daunting.” Bananas to the Rescue “Turning banana fiber into sanitary pads? Yep, that’s happening in Senegal. The Luna Na project is about innovation and solving local challenges with global ideas. It’s a first in Senegal and Africa, and it’s changing lives.” A Vision for Change “Luna Na isn’t just a project; it’s a movement. It’s about empowering Africa’s youth with opportunities, innovation, and hope for a brighter future. Watching this transformation unfold is my proudest accomplishment.” Connect with Us: Host: Vince Chan | Guest: Fatou Sagna Sow ______________________ --Chief Change Officer-- Change Ambitiously. Outgrow Yourself. Open a World of Deep Human Intelligence for Growth Progressives, Visionary Underdogs, TransformationGurus & Bold Hearts. 6 Million+ All-Time Downloads. Reaching 80+ Countries Daily. Global Top 3% Podcast. Top 10 US Business. Top 1 US Careers. >>>100,000+ subscribers are outgrowing. Act Today.<<< --Chief Change Officer--Change Ambitiously. Outgrow Yourself.Open a World of Expansive Human Intelligencefor Transformation Gurus, Black Sheep,Unsung Visionaries & Bold Hearts.12 Million+ All-Time Downloads.Reaching 80+ Countries Daily.Global Top 3% Podcast.Top 10 US Business.Top 1 US Careers.>>>140,000+ are outgrowing. Act Today.<<<
Chapter 1: What inspired Fatou Sagna Sow to leave her banking career?
Join me as I chat with Fatou Zegna So, a remarkable individual I had the pleasure of studying together during our executive MBA classes in London and in Singapore with Chicago Booth. She has since moved from the well-established legal profession to economic development, technical advisory and youth entrepreneurship in Senegal. In her own words, she aims not just to succeed, but to create magic.
What drives a person to embrace such profound change? How does a lawyer used to practicing set laws becoming a chief change officer, making her own laws of change for careers, for communities, and for societies? Fatou is going to tell her own story.
Hi, Vince. Thank you so much for having me. It's good to talk to you again. Thank you.
I'm so glad you agreed to come on board. Well, it's been how many years? Last time I saw you in Singapore, is that right?
Well, last time I saw you, Vince, actually, it was in Singapore. It was in 2013. So indeed, long, long time. At this time, I was a financial lawyer at a bank in Paris. And I was also a municipality council of a small town in France, finishing my six-year terms as a municipality council. So a long, long time in it. As a background, as you know, I'm a financial lawyer. I studied law.
I always wanted to study law because law is the way you manage people to live together in a city. And I always wanted to know the rules and be able to be part of the law makers and policy makers. I studied law, of course, but I really wanted to be an economic lawyer. So I studied business law. I took a finance course as well. I also studied IT.
I started to work as a financial lawyer in different law firms in France, in Paris. Very exciting, both French and U.S. law firms. Very exciting. And then I moved to France. to bank industry. I first started working at the central industrial of Paris in the BNP Paribas Bank as a financial lawyer. And then I moved to Soussacgène, which is the second major bank in France.
This is where I spent most of my career in Société Générale Bank in Paris. And before I leave, I decided to make the big change you mentioned earlier. I was born in Paris. I grew up there. I studied there. I started working there. My family is still there. My twins were born in Paris.
So I decided to quit this environment I've always known to start a new adventure in Africa and specifically in Senegal, which is my own country as well.
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Chapter 2: How did Fatou prepare for her transition to Senegal?
So I was heading this local branch of the party there. And this was a revelation to me. I started knowing a lot of people, people from Senegal, but very high level in politics, in public policymakers. And I started to learn more and more details about my country, about the economics, about the politics when it comes to really living in Senegal.
And this was a challenge for me to see whether this kind of change is something that I could handle. and to see how all the skills that I had and the professional experience I've gained in presence, how all those skills will be helpful for me. It's been a long process of preparation. It's a 360-degree change, as you can see. I'm a mom, so I have to make it in the most responsible way.
So it took some time. I entered the political way. I did this network for 10 years, and I prepared all that. I followed the economics news, the politics news from Senegal, and I kept talking to my people here. When my kids were born in 2010, I came to Senegal for almost a year, so I really could have a good preparation from the inside.
So since then, the year I finally relocated to Senegal, I decided to go, and nobody could I understand that because I had such a great position at the bank. I was in the cabinet of the group general counsel. So it was a surprise for my mom. She thought I was crazy, for my friends, family, and for my boss, for my managers, and so on. But I knew everything.
What I wanted to do and I did have to leave this experience. So I jumped. Everything is constantly changing and you need to adapt. And if you don't adapt, it means you're not going to make it and you might not be successful. And still here I am in Senegal, happy with my family.
I think I did well. Sounds like it was a calculated decision. It wasn't a spur of the moment thing. You were prudent enough to plan ahead. Now you move in the year 2016. Now it's 2024, eight years. You've explored opportunities. You experienced new life. Now, I was wondering... What one thing, what that one thing is that motivate you if I have to ask you to come up with one word?
Would you say identity? I sense that for you, born and raised in the developed economy, France, Paris, legal profession, stability, that is part of your identity. But you have the other piece of you which lies in your root, in your origin. You identify with it. You resonate with it. You see a lot of things going on. You really want to do something about it. I think identity is your calling.
Would you agree? Yeah.
The reason I make those changes, these big changes, I mean, there are three main reasons. First of all, yeah, I wanted to challenge myself and to see the full expression of myself. What does it mean being tattooed in Senegal? This Paris-born girl. How can she handle this identity of her in Senegal? What will she become? I was curious about that. And of course, it was a question of identity.
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Chapter 3: What challenges did Fatou face in Senegal?
I knew I had this occasion in Senegal to start working on economic development projects and to see very simple projects and to see how I can have a huge impact. So I felt like I had to make this move for myself to feel like my life didn't matter. And of course, as I mentioned, I'm a mother. So I wanted my kids to experience, to fully experience the second country of there.
And they can always go to France where they were born, where their grandma is and so on. And I think this will develop something for them that I could not experience myself before. The world is a global thing. There's no barrier, actually. Understanding that the world is huge.
Yeah, you are setting up a role model for your children. They see you in action. They see that, oh, my mother Making a move. I mean, honestly, a lot of things I'm sure going on in your life in Africa. And they are there with you. They see a lot of things which they most likely won't see in France. Yes, after they grow up, they can move back to France or move to other countries to be adventurous.
to do whatever they want to do to create impact for themselves as well as for other people because that's what my mother has done for Africa, for many other countries. So now, let's spend the rest of our time on Africa. Tell us about your time as a technical advisor. What did you see? What have you done? What challenges were you facing at that point?
It has been such a reward for me, only two years after I relocated to Dakar, and to be appointed technical advisor to the fourth big personality here in Senegal, the former prime minister, my friend, Dr. Aminata. I have to admit that the political decision I made to join the Senegalese politics in Toukele, paid off when I came here because she's someone I met in this political party.
And since then, we've kept good relations during all these years. So I came here. She knows me. She knows I can work. She knows I can challenge myself very well. So she decided to appoint me in the cabinet as a technical advisor. And this Conseil économique, social, and environmental council from Senegal, where I was working, is an amazing institution here in Senegal.
It's aiming at advising the government on different reforms and conduct studies, investigations, and make suggestions for reform, aiming at fostering the economy here the social and the environmental development of the country. It gave me a global view of all the entire economy, of the entire society.
And it was great for me being just, as you know, a French girl coming who came to Senegal only two years before that appointment. So this was such an amazing position for me to have a clear understanding of the economics, of the social reality here, of the environmental issues and so on. So that's what I did. And I'm happy.
I'm very glad because the president gave me full latitude to do whatever it is I wanted to do. So I could work on blue economy, green economy, industrialization challenge. To me, the next revolution in Africa is industrialization. I also studied work on projects for sports and development. The sports industry in Africa is only 1% of the GDP, which is very low.
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Chapter 4: How is Fatou impacting economic development in Senegal?
Are you taking all the responsibility that you have? But I'm a strong person. So like I said, I did prepare myself. So I have a great network here. I know many ministers, very high level person here. So I'm not alone. And my husband, was born here and he has such an amazing network here. And also my husband, he's working here. He's been working in the public area for years.
That's why I met him in Tulum in 2K also. So it was not such a challenge to me. You can always at the end of the day, be successful. Because I love politics, I have a reputation for that. And I started being the head of the President Macron political party field. I've been heading it in 2017 and also for his re-election in 2018.
So this position widened my network and it was passionate to be part of the two presidential elections in France. I always wanted to keep an eye on France and also be involved in France. In 2022, I decided to run for the election for the deputation in France. If I had been elected, I would have represented the French people living in West Africa and in the Arabic countries.
So this is something that I will probably try again and run five years. All those experiences, political experiences, have been great and very important in the construction of the person that I am now. I've started my own business, my own consulting firm named New Deal Consulting.
I know that all those networks, political networks, professional networks, are crucial to what I'm doing now every day. So I'm lucky I have this network and I can work easily with that.
Of course, you build a lot of credentials, reputation in the political circle, which is important, which is an asset, which is a capital. And now you are playing a consultant role I'm curious to know about in your country now, what are some of the issues, challenges or opportunities you try to overcome for the country as a consultant?
Yeah, you know, in Senegal, we are living in a difficult period, the political period as we speak. And it's been for a while now. This is an election period in Senegal. We are re-electing, at the end of the month, our new president.
This has been a long process of contestation, and the election was aiming at... We were supposed to vote in the last month, on the 25th, and the election had been postponed. Many opponents had been put in jail. Many young people arrested. Really, the situation here is not the best for the economy.
So I'm making connection with the private sector, the administration, and also with the people, foreign people who want to come to Africa, to Senegal specifically, and to start business here. And specifically, I'm working with young people.
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Chapter 5: What opportunities does Fatou see in Africa's future?
Each and every one of them are bringing their skills, their experience. And I could see the magic and it's very exciting to me working on that kind of project. So I can work on either industrialization project just like Nulana. I also have... project in green industry, in blue industry. Aquaculture has an amazing potential here in Africa, in Senegal, and so on.
I think this changed the perspective of the young people who are sometimes desperate here when they are in the continent of the future. So putting them together with people, young people that are coming from Europe, working on projects here, It's definitely a goal for me and I'm happy. So far, very successful with this lean on our projects.
Well, you're linking cultures, you're linking talents, you're linking skills, you're linking experiences. For the benefits of Africa.
For the benefits of Africa because there's so many things to do here and so many things are not done.
yeah yeah before covid i was involved in the education technology space among all the countries in the world one of those excitement actually happened in africa a lot of young talent they all pray for more education newer skills if we think of it as we are economists basically there's a huge workforce
that yet to be tapped into and that would be a huge productivity growth if you can make the best use of the talent pool in that region. So I can't wait enough to hear more stories, more success stories from you about linking Europeans with Africans and possibly even other parts of the world to create that kind of magic.
Yeah, just yesterday I've been interviewed by a woman who is an entrepreneur in Monaco in the South of France. She's really interested in Senegal. She comes often in Senegal. And we're about to build links between Monaco and Senegal as well. There are great schools over there. People need to have great perspective. And I'm ready to welcome them here in Senegal and start working.
At the end of the day, those students are going to be part of the new business. They will have shares and they will have this experience, this entrepreneurial experience in Senegal, which is great.
So first start with France and then Wendatco, right? And so there would be other countries.
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