UK-based development finance institution CDC has appointed Imoni Akpofure as a regional director for Africa, according to a statement from the organisation.
Akpofure, who joined on February 16, is CDC’s second locally-based regional director for Africa, working alongside Suleiman Kiggundu. The pair will provide “local knowledge, guidance and strong relationships to ensure that CDC’s capital is deployed to meet the needs of businesses across the continent”.
Akpofure is based in Lagos and will primarily focus on working with CDC’s London-based investment teams to ensure that the organisation’s capital is being invested to support growing companies in Anglophone and Francophone West Africa – a region in which CDC currently has 208 investments – as well as Lusophone (Portuguese-speaking) Africa.
Akpofure joins CDC from the International Finance Corporation, the private sector arm of the World Bank Group, where she most recently worked as director for Western Europe. During her 18 years at the IFC, Akpofure worked in senior roles in the organisation’s regional offices in Harare, Johannesburg and Accra, as well as in the infrastructure, environment and social development department and the global manufacturing and services department.
Last month CDC hired Murray Grant from emerging market specialist Actis as managing director for its Africa funds team. Rod Evison, who retired from the organisation in 2012, Grant will manage the team responsible for investments in private equity funds across Africa, PEI reported previously.
CDC, a long-term investor in Africa private equity, currently has $1.27 billion invested in African funds, with a further $726 million committed, and is committed to 55 funds investing in the continent, PEI reported earlier.