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Afreximbank seeks new fund CEO after death of Kenyan executive

Afreximbank headquarters

Afreximbank headquarters in Cairo, Egypt. PHOTO | COURTESY | AFREXIMBANK

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Summary

  • Afreximbank said in a notice published last week that it is has contracted London-based executive headhunter Willis Partnership to aid the CEO search.
  • The Kigali-based Feda invests in all market segments in Africa, including Kenya but says it has its greatest focus on small and medium-sized enterprises.

The African Export-Import Bank (Afreximbank) is looking for a new chief executive to head its Fund for Export Development in Africa (Feda) to replace Kenyan banker Philip Ojwang Kamau, who died early this year.

Dr Kamau was, until his death aged 61 on January 20 in Cairo, the first head of the recently created fund, having been appointed to the role in 2018.

Afreximbank said in a notice published last week that it is has contracted London-based executive headhunter Willis Partnership to aid the CEO search.

The fund was set up with an initial capital outlay of $100-million (Sh11 billion) to fund companies in Afreximbank’s key focus sectors, which include agri-business, manufacturing, consumer and retail, financial services, technology, travel and tourism, transport and logistics and industrial parks.

The Kigali-based Feda invests in all market segments in Africa, including Kenya but says it has its greatest focus on small and medium-sized enterprises.

Dr Kamau played a key role in fronting Kenya to host Afreximbank’s Sh3 billion regional headquarters, but Nairobi’s reluctance to grant the institution diplomatic status saw it lose out to Kampala at the end of 2018.

The plans to have the headquarters in Nairobi had been in the works for over three years.

The top banker had joined the multilateral lender in 1994 after he was seconded by the African Development Bank, becoming one of its pioneer staff members.

He moved up the ranks to become the senior director for finance in 2007. He spearheaded the creation of an equity investment arm of the bank, which became Feda. Afreximbank, which finances and promotes African trade, has in the past decade become a significant player in Kenya’s economy.

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