Rwanda’s Donald Kaberuka former President of African Development Bank has been appointed as one of four independent directors set to oversee Kenyan Public Investment Fund-Centum Investments.
Kaberuka who was recently hailed for turning around the fortunes of the African Development Bank where he was president for two consecutive terms is set to be part of a four man non-executive board that will oversee the Nairobi Stock Exchange (NSE) listed company.
As of March 2016, total assets of the company were valued at about $518.2 million. The move comes at a time when sources have indicated that the company might cross list on the Rwanda stock exchange.
On top of the NSE, centum also cross lists on the Uganda Stock Exchange (USE).
Kaberuka who also served as Rwanda’s Minister of Finance and Economic Planning for eight years before his election to AfDB presidency has recently been appointed by President Paul Kagame as a member of a team that is expected to spearhead the reforming of the African Union into a self-reliant credible body.
He is currently serving as the African Union High representative for the peace fund and is a member of the World Economic Forum Board of Trustees.
Centum is a public East African investment company.It operates as an affiliate of the Kenyan government-owned Industrial and Commercial Development Corporation (ICDC).
The company’s investments are spread across private equity, quoted private equity, real estate and infrastructure across various countries in sub-Saharan Africa.
Other appointments to the Board include William Byaruhanga, the Attorney General of the Republic of Uganda, Catherine Igathe, the Managing Director of AIG Kenya Insurance Company Limited and ormer Group Finance Director of CMC Holdings Ms Mary Githiaka Ngige.