Centum Investment has appointed four independent non-executive directors including former president and chairman of the African Development Bank (AfDB) Dr Donald Kaberuka (Rwandan) to comply with corporate governance rules.
Uganda’s Attorney-General William Byaruhanga, former CMC Holdings acting CEO Mary Ngige and AIG Kenya Insurance managing director Catherine Igathe are the other new board members.
“The appointment of the new directors was effected in compliance with the Capital Markets Authority Code of Corporate Governance Practices for issuers of Securities to the Public, 2015,” Centum said in a statement Wednesday.
The new appointments come after the retirement of former chairman James Muguiyi and the Permanent Secretary in the Industrialisation ministry.
Centum noted that it has picked foreign directors to reflect its pan-African expansion plans.