NAIROBI, Kenya, July 18 – African climate insurer, the African Risk Capacity (ARC), has appointed two new non-executive directors for three-year terms.
The new appointees include Deepak Dave and Maxwell Mkwezalamba, whose appointments were approved by the Board effective July 1, 2023.
They take over from Jennifer Blanke and M. Philip Pettersen, whose mandates terminated on April 17, 2023.
“We are delighted to announce to you that the Country Members of ARC Ltd, having received the recommendation from the Board of ARC Ltd, has appointed Deepak Dave and Maxwell Mkwezalamba as Non-executive Directors of ARC Ltd for a three-year term starting on the 1st of July 2023 and ending with the ARC Ltd AGM to be held in 2026,” ARC Ltd Chair Abdoulie, Janneh said.
“These appointments result from several months of activity by the Chair, the CEO and the Nomination Committee,” he added.
Dave has over 24 years of banking, capital markets, and private finance experience in Canada, the United States, the European Union, Africa, the Middle East, India, and Southeast Asia.
He led strategic changes and revenue origination in several entities and had experience in acquisition, expansion, recapitalization, and turnarounds using Asset-Based Lending (ABL), among others.
Likewise, Mkwezalamba is an economist with more than thirty years of experience in academia, the private sector, the national government, and regional and international organizations.
His areas of focus have been macroeconomic policy and analysis, public finance, international finance and development, regional integration and development, et cetera.
“It was agreed that all candidates demonstrated extensive Board experience in Director roles, relevant expertise according to the required skills and competences including but not limited to African Political Network, Meteorology / Climate Change, African Union Knowledge and Networks, Insurance, financial sector and development in Africa.”
