Nairobi, Kenya, 15th May 2020. Chair of The Africa Enterprise Challenge Fund (AECF), Hixonia Nyasulu, has announced the appointment of David Governey and Yana Kakar to the AECF Board of Directors.
“We are excited to welcome David and Yana to our board. They bring decades of valuable experience in the areas of non-profit financial management and accounting, and non-profit management and governance, that are vital to our future operations and strategy” said Ms. Nyasulu, “I look forward to their contributions and insights especially as AECF seeks to steer a steady course through the challenges of a global pandemic and to protect the development gains that pro-poor businesses have achieved across Africa.”
David Governey is an internationally experienced financial and operations professional, and a Chartered Accountant (1974). As a former Director of Finance for three CGIAR Institutes, including the International Food Policy Research Institute (IFPRI) from 2001-2014, David brings valuable expertise in international accounting and auditing standards, corporate governance, resource planning, and risk management strategy. He also currently serves as a non-executive director for three non-profit organizations, Self Help Africa in Dublin, Partner Africa in Nairobi, and AfricaRice in Abidjan.
Yana Kakar is the Global Managing Partner Emeritus of Dalberg. Yana specializes in values-based investing. She advises institutional investors, asset managers and portfolio companies on how to transform business models and investment portfolios through sustainable, responsible and impact-oriented strategies. She also advises governments, non-profits and philanthropists on policy, programming and charitable giving strategies that maximize positive social and environmental outcomes, with a focus on gender, youth and SMEs. She is a highly respected contributor to influential media and serves on advisory boards and councils of the Brookings Institution, Convergence, EMPEA, the African Development Bank, and YPO.
Victoria Sabula, AECF Chief Executive Officer added:
“Yana’s global experience in impact investing and genuine passion for ‘business for good’ and David’s lifelong dedication to the transformation of agriculture in Africa and the highest standards in financial management will be major assets to AECF and I look forward to working with them both.”
The new members join current Board members: Hixonia Nyasulu, Teklewold Atnafu, Frank Braeken, Enock Chikava and Duncan Onyango.
AECF is the premier challenge fund supporting early and growth-stage businesses in Africa’s agribusiness and renewable energy sectors to reduce poverty, promote resilient communities and create jobs through private sector investment. Since its inception in 2008, AECF has transformed the lives of 17 million people, increasing their incomes and wages and realizing a cumulative development impact of US$ 1.3 billion. To achieve this, it has supported 268 businesses across 26 countries in sub-Saharan Africa, that also created and sustained 12,000 jobs and leveraged US$ 750 million growth capital from the private sector.