Equity Group Holdings has announced the appointment of six new Independent Non-Executive Directors to its board.
In a public notice on Friday, June 27, Equity Group said the newly appointed directors bring a combined wealth of over 180 years of experience across continents and sectors.
The first appointee, Farida Khambata, is a renowned figure in emerging markets finance, joining with over 30 years of experience in investment and risk management.
She holds a Master’s in Economics from Cambridge University, an MSc from London Business School, and is a Chartered Financial Analyst (CFA).
Her tenure as Regional Vice President at the International Finance Corporation (IFC) saw her manage a $14 billion portfolio across East Asia, South Asia, Latin America, and the Caribbean.
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According to the notice, Farida coined the term “Frontier Markets” in 1992 and served on boards such as Tata Steel Limited and Kotak Mahindra Life Insurance.
The second appointee, Nick O’Donohoe, former CEO of British International Investment (2017–2024), is widely respected in development finance with a career spanning three decades.
A Wharton MBA holder, he previously served as founding CEO of Big Society Capital and Head of Global Research at JP Morgan.
Dr. Aloysius Uche Ordu, the third appointee, is a seasoned development economist who brings over 30 years of policy and financial innovation expertise.
He holds a Ph.D. from the University of Sussex and is an alumnus of the Harvard Kennedy School.
Ordu has served as Director of the Africa Growth Initiative at Brookings and as Vice President at the African Development Bank, where he led efficiency and decentralization reforms across 54 countries.
The fourth appointee, Biraro Rwivayire Obadiah, is a veteran in public financial management, joining the board after a distinguished career including his tenure as Auditor General of Rwanda (2005–2021).
A Certified Public Accountant in Rwanda, Kenya, and Uganda, Biraro has chaired the East African Community Audit Commission and contributed to Rwanda’s adoption of IPSAS accrual accounting and oversight of public and World Bank-funded entities.
The fifth appointee, Dr. Lakshmi Shyam-Sunder, is an award-winning financial executive and former Chief Risk Officer of the World Bank Group (2014–2024), who has led lending and innovation efforts unlocking $170 billion.
She holds a Ph.D. in Finance from MIT Sloan School of Management and has served as CFO of the Multilateral Investment Guarantee Agency.
Lakshmi is also known for her board roles across Latin America and extensive engagement with rating agencies.
Finally, Eng. David Mutombo, CEO of REGIDESO SA in the DRC, joins with a strong track record in water, energy, and infrastructure.
Holding an MBA from the University of the Witwatersrand, he has delivered profitable services to over 100 million people.
He also served as Global Managing Director of Hatch’s Water Business Unit, leading major infrastructure projects valued at over $400 million and providing strategic direction for logistics and partnerships.
"We are privileged to welcome a diverse and distinguished group of global leaders whose expertise in development finance, governance, investment, infrastructure, and sustainability will strengthen our vision of championing the socio-economic prosperity of the people of Africa," Equity Group Holdings Plc Chairman Prof. Isaac Macharia said.
