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CDC hires African entrepreneur Valentine Chitalu as director

4 Jun 2010

CDC, the developmental fund of funds backed by the UK government, has appointed a new non-executive director, African entrepreneur Valentine Chitalu.

Chitalu is active in the private equity space in Zambia and southern Africa and previously worked for CDC, focusing on identifying funds for the firm to invest in.

Prior to this he was CEO of the Zambia Privatisation Agency, where he was responsible for the divestiture of over 240 enterprises.

Chitalu is the chairman of three companies in Zambia: Zambian Breweries, mobile network business MTN and nickel-focused exploration firm Albidon.

CDC recently committed $50m as a cornerstone investor to GEF Africa Sustainable Forestry Fund, the first private equity vehicle to focus exclusively on sustainable forestry in sub-Saharan Africa.

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