CDC names Nigeria, Kenya office heads as it eyes $4.5bn African investment goal

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UK development finance institution CDC Group has named head of its Kenya and Nigeria operations as it eyes its current goal of $4.5bn of investment across Africa.

Seema Dhanani joins CDC as Kenya office head from Mauritius Commercial Bank, where she was chief representative officer for East & West Africa. She previously worked for Standard Chartered Bank as head of private clients and executive director for strategic promoter initiatives.

Benson Adenuga becomes Nigeria office head after joining from World Bank arm IFC, where he was the equity lead for the financial institutions group for sub-Saharan Africa. Before IFC he worked at Actis in West Africa for eight years as an equity investor.

CDC, which has been investing in Africa for more than 70 years, said the new hires’ deep investment experience and strong local networks would be instrumental in advancing and accelerating its commitment to invest $4.5bn across Africa from 2018 to 2021.

Tenbite Ermias, CDC’s managing director for Africa, commented “The appointment of Seema and Benson adds powerful depth to our in-country presence in two leading African markets.

“Their expertise and insights will be critical in guiding our origination efforts, portfolio management and stakeholder relationships, ultimately accelerating the pace and scale at which we can act.”

The new hires come a month after CDC appointed former Onex Corp executive Tony Morgan as its new managing director for direct equity.

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