This archive report was first published on 15 November 2019.
UK investment fund CDC Group has beefed up its Kenya management team following a tumultuous period, marked by significant losses in the collapse of cement-maker ARM.
On November 15, 2019, the firm announced the appointment of Seema Dhanani as the new head for its Kenyan office, a move aimed at bolstering its presence in the region.
Ms Dhanani joins CDC from Mauritius Commercial Bank, where she served as the chief representative officer for East and West Africa, with responsibility for the bank's office in Kenya.
At the MCB, she was in charge of governance, reporting, compliance, and strategic client and regulatory coverage in East and West Africa.
"I am delighted to join CDC at such an inflexion point for the organisation," Ms Dhanani said in a statement.
"CDC's commitment to ramp up the pace of its investments as part of the UK's ambition to become the top G7 investor in Africa by 2022 creates an exciting set of opportunities and I'm looking forward to working with the team to spur the growth of East Africa's most promising businesses," she added.
Under her leadership, CDC plans to pump money into Kenyan firms in various sectors, including infrastructure, construction, and real estate, as well as financial institutions.
According to CDC, it has invested $268 million (approximately Sh27.2 billion) in 74 companies in Kenya, with a focus on priority sectors such as infrastructure, food and agriculture, construction and real estate, health and education, financial institutions, and manufacturing.
