Africa 50 Names New Independent Board Members

Shareholders of Africa50 have approved the expansion of the board of directors of the bank to include at least half independent directors. The five new board members, hailed from France, Lebanon, Kenya, Nigeria and South Africa and are recognised senior experts in infrastructure or related fields, and have substantial experience as non-executive directors in Africa and globally.

They are Imoni Akpofure, Monhla Wilma Hlahla, Sophie L’Helias, Assaad Jabre and Albert Mugo.

“I am pleased to welcome the new members to the Board. They bring with them a wealth of experience at the highest levels in infrastructure, corporate governance, public service, law, sustainability, and development finance.

“I am convinced that they will make a substantial contribution to the work of our Board as Africa50 ramps up its activities to help close the continent’s infrastructure gap,” the President of the African Development Bank and Chairman of the Board of Directors of Africa50, Akinwumi Adesina said. Akpofure is an experienced finance and sustainability professional with 30 years of developed and developing country experience.

She is a generalist with wide industry and geographic coverage and has a deep understanding of Sub-Saharan Africa. She most recently served as the Regional Director for Africa at CDC Group Plc, where she focused on investments in West Africa and in Lusophone Africa. Prior to joining CDC, from 1995-2013 she worked at the International Finance Corporation (IFC), rising to the rank of Director for Western Europe.

Also, Hlahla is an experienced director of companies and currently serves as Chairperson of the Boards of Royal Bafokeng Holdings and Denel SOC Limited, both in South Africa.

She spent most of her career in infrastructure, starting from the Development Bank of Southern Africa where she worked in financing of bulk infrastructure projects, to her distinguished role as Managing Director of the Airports Company of South Africa between 2001 and 2011.

Similarly, L’Helias is an expert on governance and sustainability issues. She started as an attorney in M&A and stock market law in New York and Paris and has also served as Managing Director of an arbitrage fund.