Equity Group has appointed new Independent Non-Executive Directors to its Board of Directors (the Board), following the retirement of four others.
The Independent Non-Executive Directors include Mrs. Farida Khambata, Mr. Nick O’Donohoe, Dr. Aloysius Uche Ordu, Mr. Biraro Rwayitare, Dr. Lakshmi Shyam-Sunder, Eng. David Mutombo.
Mrs. Farida Khambata holds a Master’s in Economics from Cambridge University, an MSc from London Business School, and is a Chartered Financial Analyst (CFA).
She has over 30 years of experience in emerging markets finance. She co-founded Cartica Capital and previously served as Regional Vice President at IFC, managing a $14 billion portfolio across East Asia, South Asia, Latin America, and the Caribbean.
She coined the term “Frontier Markets” in 1992 and served on boards such as Tata Steel Limited, Kotak Mahindra Life Insurance, Tata Investments Corporation, and Dragon Capital Group. She was recognized among Euromoney’s Top 50 Women in Finance and awarded Best Woman Director in 2015.
Mr. Nick O’Donohoe holds an MBA from the Wharton School of the University of Pennsylvania. He is a global authority in development finance with a 30-year career in financial services. As CEO of British International Investment (2017–2024), he grew the institution significantly, deploying $10 billion in development and climate finance. He was founding CEO of Big Society Capital and Head of Global Research at JP Morgan. He has served on boards including the Global Impact Investing Network and BlueMark. He was awarded a CMO in 2022.
Dr. Aloysius Uche Ordu holds a Ph.D. in Economics from the University of Sussex and is an alumnus of Harvard Kennedy School. He has over 30 years’ experience in international development, including service on the Monetary Policy Committee of the Central Bank of Nigeria and as Director of the Africa Growth Initiative at Brookings Institution. He has held senior roles at the African Development Bank and the World Bank Group. He also advises international policy bodies including the Harvard–Lancet Commission.
Mr. Biraro Rwayitare Obadiah holds an MBA from Uganda Martyrs University and is a CPA in Rwanda, Kenya, and Uganda. With 37 years in public financial management, he served as Auditor General of Rwanda (2005–2021), chaired the East African Community Audit Commission, and contributed to the adoption of IPSAS accrual accounting in Rwanda.
Dr. Lakshmi Shyam-Sunder holds a Ph.D. in Finance from MIT Sloan and is a recognized expert in risk management. As VP and Chief Risk Officer of the World Bank Group (2014–2024), she helped maintain its AAA rating and unlocked $170 billion in lending. She has also served as CFO of the Multilateral Investment Guarantee Agency and chaired The Currency Exchange’s Supervisory Board.
Eng. David Mutombo holds an MBA from the University of Witwatersrand and completed the Advanced Management Program at Harvard Business School. A licensed Professional Engineer, he has over 20 years of experience in water, energy, and infrastructure. As CEO of REGIDESO SA (DRC), he led a major turnaround. He has managed global infrastructure projects and serves on the board of Chemtrade Logistics.
“We are privileged to welcome a diverse and distinguished group of global leaders whose expertise in development finance, governance, investment, infrastructure, and sustainability will strengthen our vision of championing the socio-economic prosperity of the people of Africa. Their appointment affirms our commitment to robust governance and stakeholder value creation. We also express our heartfelt gratitude to the outgoing directors whose invaluable service has shaped the Group’s strategy and impact over the years.” — Prof. Isaac Machinga, Chairman, Equity Group Holdings Plc.
The following directors retired from the Board but will continue to serve on different subsidiary boards.
Mr. Vijay Gidoomal will be joining Equity Bank Kenya board, Dr. Edward Odundo will be serving on Equity Life Assurance Kenya Board, Dr. Helen Gichohi will be joining the Equity Group Foundation board and Mr. Samuel Kirubi is continuing as Group Chief Operating Officer.
