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Segun Ogunsanya Appoints as MD/CEO of Airtel Africa as Raghunath Mandava Retires

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Airtel Africa has appointed Olusegun Ogunsanya, the Managing Director and Chief Executive Officer (CEO) Nigeria as the telecommunications’ Managing Director and Chief Executive Officer following Raghu Mandava’s informing the Board of his intention to retire.

In a statement signed by Simon O’Hara, Group Company Secretary, Ogunsanya will join the Board of Airtel Africa plc with effect from 1 October 2021.

Segun Ogunsanya joined Airtel Africa in 2012 as Managing Director and CEO Nigeria and has been responsible for the overall management of our operations in Nigeria, our largest market in Africa.

Segun has more than 25 years’ business management experience in banking, consumer goods and telecoms. Before joining Airtel in 2012, Segun held leadership roles at Coca-Cola in Ghana, Nigeria, and Kenya (as MD and CEO). He has also been the Managing Director of Nigerian Bottling Company Ltd (Coca-Cola Hellenic owned) and Group head of retail banking operations at Ecobank Transnational Inc, covering 28 countries in Africa. He is an electronics engineer and also a chartered accountant.

Raghu Mandava will be retiring as Managing Director and Chief Executive Officer, as a Director of Airtel Africa plc and as a member of the Market Disclosure Committee on 30 September 2021. Arrangements have been made to ensure a smooth transition of responsibilities. Following his cessation of employment at Airtel Africa, Mr. Mandava will be available to advise the Chairman, the Airtel Africa Board and the Managing Director and Chief Executive Officer for a 9-month period.

Speaking on the announcement, Segun Ogunsanya said: “Having been part of the Airtel Africa journey for the past nine years, I am looking forward to taking up the role of Chief Executive Officer. On a personal note, as an African, I feel honoured to have the opportunity to lead a Group that continues to make a difference to millions of people, bridge the digital divide and expand financial inclusion. This is an exciting opportunity to position Airtel Africa for
further success in a dynamic continent full of potential. I look forward to building on the achievements of the last five years during Raghu’s leadership.”

Raghu Mandava said: “I am thankful to Airtel Africa for providing me and my team the opportunity to transform the business and fulfil our responsibility to the countries in which we operate. It has been a privilege to serve in the African continent and I cherish my time here. Airtel Africa is a remarkable business with fantastic people. Having been at Bharti Airtel for 13 years and at Airtel Africa for 5 years as Chief
Executive Officer, I feel now is the right time to take a sabbatical.

“The last five years have been an exhilarating journey where we have been able to turnaround and transform the business into a strong high growth and profitable company.”

“We have been able to build the business with our unique management and problem solving approach to bring in substantial performance improvement. I am very proud of what we have achieved over the past 5 years in Africa, and I look forward to seeing the Company make even greater progress over the coming years.”

Sunil Bharti Mittal, Chairman, Airtel Africa said: “We are delighted to appoint Segun Ogunsanya as the Group’s next Chief Executive Officer. He has displayed significant drive and energy in turning around the Nigeria business by focusing on network modernisation, distribution, and operational efficiency. It is this commitment, together with his industry experience, strategic vision, constant customer focus and proven record of delivery that will enable him to continue to deliver our strategic objectives and to lead the Group in the next stages of its development.”

“On behalf of the Board I would like to thank Raghu Mandava for being instrumental in successfully leading and transforming Airtel Africa into a powerhouse telecommunications and mobile money company. Throughout that time, Raghu has worked tirelessly first to repair and then to strengthen Airtel Africa’s business and to champion our stakeholders. As we look forward to Segun assuming his new role in October 2021, we do so from a position of great strength as a result of Raghu’s highly effective stewardship. Raghu will retire from the Board with our very best wishes and sincere appreciation for everything he has achieved.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Appointments

Union Bank Announces the Appointment of Aisha Abubakar as Independent Non-Executive Director

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Union Bank of Nigeria Plc (“Union Bank”) has announced a change to the membership of its Board of Directors with the appointment of Ms. Aisha Abubakar as an Independent Non-Executive Director effective 9th September 2021, following the approval of the Central Bank of Nigeria (CBN).

Ms. Abubakar joins the Board of Union Bank following her tenure as Nigeria’s Honourable Minister for Women Affairs and Social Development from 2018 to 2019. Prior to this, she also served as the Honourable Minister of State for Industry, Trade and Investment between 2015 and 2018. At the start of her career, Ms. Abubakar worked at Continental Merchant Bank Ltd., African Development Bank and African International Bank.

She is an accomplished public sector administrator with over three decades of professional experience in Public Service and Pension Administration, Investment Banking, SME Finance/Rural Enterprise Development and Micro-Credit Administration.

Ms. Abubakar is a Fellow of the International Professional Managers Association (IPMA-UK), and the President of the International Experts Consultants (IEC-UK).

Commenting on the addition to the Board, Mrs. Beatrice Hamza Bassey, Union Bank’s Board Chair said: “On behalf of the Board of Directors, I welcome Ms. Aisha Abubakar to the Board. She brings many years of robust experience which will be invaluable in supporting our efforts to steer the Bank forward and deliver on our strategic objectives.”

Also commenting, Chief Executive Officer, Mr. Emeka Okonkwo said: “I am pleased to welcome our new Independent Non-Executive Director, Ms. Aisha Abubakar to the Board. We look forward to drawing from her wealth of experience and fresh perspectives as we continue to execute our vision to be Nigeria’s most reliable and trusted partner.”

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Dangote Cement Appoints Mr. Philip Mathew as Deputy Group MD/CEO

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Dangote Cement - Investors King

Dangote Cement Plc, Africa’s leading cement manufacturer, has appointed Mr. Philip Mathew as the Deputy Group Managing Director/Chief Executive Officer of the company with effect from September 15, 2021.

This was disclosed in a statement signed by Edward Imoedemhe, Deputy Company Secretary, Dangote Cement Plc.

According to the manufacturer, “Mr. Mathew is a professional with 34 years of working experience in large global and regional cement industries and has been involved in project management from feasibility to commissioning and stabilisation.

“He has worked with multicultural teams in different countries and held several roles, including Process Engineer, Optimisation Manager, Plant Manager, Technical Director, Director Performance and Progress, Chief Manufacturing Officer, and recently, Head of Cement Excellence Manufacturing for the AsiaPacific region; defining the strategic goals and ambitions for cement manufacturing at regional level for a global cement company.”

 

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GCR Ratings Appoints Mr. John Kibebo CPA-K to its Kenyan Office

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GCR Ratings (“GCR”) is pleased to announce the appointment of Mr. John Kibebo CPA-K as a Credit Rating Analyst. John will be based full-time in our Kenyan office as an integral part of the GCR East Africa team as GCR continues to grow its presence in the region.

John has over 8 years’ experience conducting business and financial analysis. He joins GCR from Metropol Corporation Limited where he worked for over 6 years and progressed to become the Head of their Analysis department. Prior to his time at Metropol, John worked as an Accountant for Kenya Woman Microfinance Bank and as a Banking Consultant for Kenya Commercial Bank.

John is a Certified Public Accountant (CPA-K), with a B-Comm in Finance from Jomo Kenyatta University of Science and Technology and an Msc. in Finance from The University of Nairobi.

In announcing the appointment, Sylvia Chahonyo, Managing Director of GCR East Africa, said, “Following a thorough and rigorous search process we are delighted that John has agreed to take up the position of Credit Rating Analyst in Kenya. He has significant experience and expertise, and I am pleased that we have been able to attract someone of his caliber and track record.

I have no doubt that John’s appointment, in a permanent capacity based at GCR in Nairobi, will facilitate a deeper entrenchment of GCR’s presence and portfolio of credit ratings across Kenya and the region. His appointment also reinforces GCR’s ongoing commitment to investment and capital markets development in East Africa, and our role as a source of timely, accurate, and market leading credit opinions.”

Upon his appointment, Mr. Kibebo said, “I am delighted to join GCR Ratings and its growing analytical team of 45+ analysts spread across Africa. GCR has a stronghold in the African credit ratings market thanks to its local footprint. I am looking forward to working with issuers across the East-African market. Increasing access to, and use of, credit ratings in the region is a key element of a functioning capital market which, I believe, will help companies get greater access to funding, and investors to understand the risks associated to those entities which can assist in enhancing sustainable growth outcomes in East Africa.”

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