Five African CEOs To Join The Board Of Directors Of The Initiative For Global Development

30 September 2014
press release

Washington, DC — Top business leaders in Africa to steer strategic direction of nonprofit organization dedicated to driving poverty reduction by catalyzing business growth and investment in Africa

The Initiative for Global Development (IGD) is pleased to announce the appointment of five new members to its Board of Directors. IGD, a nonprofit organization, engages a global network of corporate leaders to reduce poverty through investment in the developing world, with a particular focus on Africa. IGD's new Board Members are CEOs of some of the most influential businesses and organizations in Africa.

"IGD's Board is thrilled to welcome these five extraordinary business leaders who are African pioneers, with extensive experience growing businesses and leading impactful investments throughout the continent," said Dr. Mima S. Nedelcovych, IGD President and CEO. The five new Board Members are: Andrew Alli, Mathews Chikaonda, Morgan Nzwere, Miriem Bensalah-Chaqroun, and Jean-Louis Ekra. The new IGD Directors come from diverse backgrounds and a range of sectors, encompassing agro-industry, power, infrastructure, ICT, financial services, and more.

Andrew Alli is the President and CEO of the Africa Finance Corporation, a pan-African company focused on financing the development of African infrastructural assets through well-organized project structuring and application of risk capital. Mr. Alli has years of high-level experience in private equity and project financing Africa through his work at Trevant Capital and at the International Finance Corporation.

Mathews Chikaonda is the Group CEO of Press Corporation Ltd., the largest holding company in Malawi, with interests in power, ICT and agro-industry, among others. Dr. Chikaonda is the former Minister of Finance and Economic Planning and the Governor of the Reserve Bank of Malawi.

Miriem Bensalah-Chaqroun is the President of the Confederation Generale des Entreprises du Maroc (CGEM), a business association that represents the interests of enterprises from all sectors of the Moroccan economy. Ms. Bensalah-Chaqroun is also the CEO of the Holmarcom Group, one of the five largest industrial, commercial, and financial groups in Morocco.

Morgan Nzwere is the Group CEO of Seed Co Ltd., a leading producer and marketer of certified crop seeds in Southern Africa and throughout COMESA. Mr. Nzwere has previously held senior corporate positions at WUwwale Motor Industries and Anglo American Corporation, and has worked in the seed industry for the past 16 years.

Jean-Louis Ekra is the President and Chairman of Afrexim Bank, which works to stimulate the development and diversification of African trade. In 2013, Afrexim Bank received financing application of over $23 billion. Mr. Ekra has served as the country manager for the West African Economic and Monetary Union and Managing Director of the Ivorian Post Office, and is a former Honorary President of the Global Network of Export Import Banks and Development Finance Institutions.

Collectively, the five new Board Directors represent the voices of the new dynamic Africa. Since becoming IGD's President & CEO, Dr. Nedelcovych has strived to build on a powerful high-level network of Frontier 100 Leaders that represent the best of class of African businesses. The appointment of these five new African Directors to the Board of IGD amplifies that vision. All of the new IGD Directors are also members of the IGD's Frontier 100 Leaders Network of CEOs and senior executives of sector-leading companies that are driving poverty reduction through strategic investments in Africa. "It is an honor for me to join the Board of Directors of IGD. The role of IGD in Africa is very important and I will work with IGD's leadership as well as other CEOs and business leaders to realize the organization's vision of building a world where business uses its potential as a powerful force for poverty reduction," Dr. Mathews Chikaonda said.

The new Directors will join IGD's Chairman of the Board, Robert Mosbacher Jr., at the IGD Frontier 100 Investor Forum in New York City, October 21-22, with the theme "Africa: Innovative Investing in Emerging Markets."

ABOUT THE INITIATIVE FOR GLOBAL DEVELOPMENT

The Initiative for Global Development (IGD) is a 501(c)(3) organization that drives significant poverty reduction by catalyzing business growth and investment in the developing world. IGD brings together an influential Frontier Leader network of CEOs and senior executives with the interest and capacity to make strategic investments in high-need, high-potential regions of Africa. Learn more: www.igdleaders.org.

For more information, please contact Thuy Dinh at 202.454.3960 or tdinh@igdleaders.org.

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