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Adenuga, Dhanani To Oversee CDC’s $4.5bn Africa Investment

CDC Group, the UK’s development finance institution, yesterday announced the appointment of Seema Dhanani and Benson Adenuga as Heads of Office for Kenya and Nigeria, respectively.

The appointees’ deep investment experience and strong local networks will be instrumental in advancing and accelerating CDC’s commitment to invest $4.5 billion from 2018 – 2021 across Africa, creating impact that contributes directly towards the UN Sustainable Development Goals.

CDC has invested for impact in Africa for over 70 years. It deploys capital and technical expertise to support the responsible and commercial growth of businesses in some of the world’s most challenged markets where the potential for transformation is significant.

The company works across multiple sectors including financial services, infrastructure, food and agriculture and real estate.

By creating jobs, advancing gender equality, strengthening governance standards and optimising environmental impact, CDC is making a significant and meaningful contribution to Africa’s development. Tenbite Ermias, CDC’s managing director for Africa, said, “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.”

Seema Dhanani joins CDC from Mauritius Commercial Bank, where she was Chief Representative Officer for East & West Africa, holding responsibility for the bank’s office in Kenya and overseeing governance, reporting, compliance and strategic client and regulatory coverage across East and West Africa for the MCB Group.

Benson Adenuga joins CDC Group from the International Finance Corporation (IFC) where he was the Equity Lead for the Financial Institutions Group (FIG) for Sub-Saharan Africa (SSA), with oversight for a wide-ranging portfolio of equity investments across SSA, including banking, insurance, microfinance and other non-bank financial institutions.

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Written by PH

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