Equity Group Holdings chairman Dr James Mwangi. /FILEEquity Group Holdings has announced a major reshuffle in its Board of Directors, appointing five new independent non-executive directors and marking the retirement of four long-serving board members.
The changes, disclosed in a public notice following the company’s 21st Annual General Meeting held on June 25, are set to reinforce the group’s commitment to strong governance, strategic growth, and stakeholder value creation.
The newly appointed directors bring a wealth of global experience in finance, risk management, investment, and public policy.
The appointments are subject to regulatory approval.
The newly appointed directors are Farida Khambata, Nick O’Donohoe, Aloysius Uche Ordu, Lakshmi Shyam-Sunder, and David Makhura.
Khambata holds a Master’s in Economics from Cambridge University and an MSc from London Business School.
She is a Chartered Financial Analyst and co-founder of Cartica Capital, with over three decades of experience in emerging markets, risk management, and investment.
Khambata has held senior roles at the International Finance Corporation, managing a portfolio exceeding $14 billion, and has served on several prominent boards, including Tata Steel Limited and FirstRand Bank.
O’Donohoe brings an MBA from the Wharton School and a global reputation in development finance.
He has previously served as CEO of British International Investment and as founding CEO of Big Society Capital. O’Donohoe’s career at J.P. Morgan included serving as Global Head of Research and leading the bank’s impact investment initiatives.
He has overseen investment portfolios totalling $10 billion and has been instrumental in shaping global financial policy.
Ordu is a seasoned development economist with a DPhil in Economics from the University of Sussex.
He has held senior positions at the World Bank and African Development Bank, focusing on economic development, public policy, and infrastructure.
Ordu has contributed to major initiatives aimed at driving sustainable growth across Africa and has served as Vice President at the African Development Bank.
Shyam-Sunder holds a PhD in Finance from MIT Sloan School of Management and has over 30 years’ experience in risk management and innovation.
She was Vice President and Chief Risk Officer at the World Bank Group, managing risk for a portfolio exceeding $70 billion.
Shyam-Sunder has also chaired the Currency Exchange’s Supervisory Board and is recognised for her expertise in credit rating and policy.
Makhura is a licensed public accountant with an MBA and over 30 years of public sector experience.
He has served as CEO of the Multilateral Investment Guarantee Agency and has led significant infrastructure and energy projects, including the expansion of water and power portfolios.
Makhura is also a board member of Chemtrade Logistics and has guided the strategy for sustainable financing and risk management.
Chairman James Mwangi welcomed the new directors, highlighting their diverse expertise as critical to strengthening the Group’s leadership and governance.
“We are privileged to welcome these distinguished professionals whose expertise in finance, governance, investment, infrastructure, and sustainability will strengthen our vision of championing the socioeconomic prosperity of the people of Africa,” he stated.
The board also announced the retirement of Edward Odundo, Vijay Gidoomal, Helen Gichohi, and Samwel Kirubi.
Mwangi also thanked the outgoing board members for their invaluable contributions to the Group’s success.
He expressed gratitude for their steadfast commitment, strategic foresight, and exemplary leadership, which have been pivotal in shaping Equity Group’s governance and growth trajectory.
The retiring directors will continue to serve in various capacities within the group’s subsidiaries, ensuring continuity and the retention of institutional knowledge.
The board changes reflect Equity Group Holdings’ ongoing efforts to align its governance structure with international best practices and to support its ambitious growth and sustainability objectives.
The appointments are subject to final regulatory approval, and the company has assured stakeholders of its continued focus on transparency, accountability, and long-term value creation.
