Former KenGen managing director and chief executive Albert Mugo has been appointed to the Africa50 Board as an independent member along with four other people. The appointment comes after Kenya recently increased its shareholding in Africa50 to Sh10 billion.
“The private sector must step up and help us close the infrastructure gap on the African continent. Public funding is limited, and there are competing priorities,” President Kenyatta said during Africa50’s third shareholders’ meeting in Nairobi.
Africa50 is an infrastructure investment platform established by the African Development Bank (AfDB) and African nations.
The New Board Members
The five new Board members have experience in infrastructure and related fields and have experience as non-executive directors in Africa and across the world.
The other members that have joined the Board include Imoni Akpofure, Monhla Wilma Hlahla, Sophie L’Helias, and Assaad Jabre.
The chief executive of Africa50 Alain Ebobissé : “I am pleased that Assaad, Albert, Imoni, Monhla, and Sophie have joined the Board. They combine top-level regional and sectoral skills with long service on the boards of other companies. This is a very important addition to Africa50’s governance structure. Combined with our world-class Senior Leadership Team, which is now in place, they will help us accelerate infrastructure development in Africa.”
Mugo has 35 years of experience in the energy sector and he previously worked at Kenya Power and the Kenya Pipeline Company.
“I am pleased to welcome the new members to the Board. They bring with them a wealth of experience at the highest levels in infrastructure, corporate governance, public service, law, sustainability, and development finance. I am convinced that they will make a substantial contribution to the work of our Board as Africa50 ramps up its activities to help close the continent’s infrastructure gap,” said Akinwumi Adesina, President of the African Development Bank and Chairman of the Board of Directors of Africa50.