London, United Kingdom, May 1st 2015: The African Private Equity and Venture Capital Association (AVCA) today announces a series of changes to its Board of Directors.
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Hurley Doddy, Co-Chief Executive Officer of Emerging Capital Partners has been appointed as Chair as Runa Alam, Co-Founding Partner and Chief Executive Officer of Development Partners International, steps down after four years in the role. Runa will remain on the board of directors supporting Hurley and Papa Madiaw Ndiaye, CEO AFIG Funds, who will assume the role of Vice Chair.
During her tenure, Runa Alam has been instrumental in setting up the Board and Advisory Council of AVCA and building further AVCA’s credibility and reputation following its re-launch. She has also played a leading role in AVCA’s research efforts, its Board re-structure and in attracting industry veteran investors’ support. She will remain on the Board and act as a lead on AVCA’s soon-to-be created Sustainability Committee, promoting the Association’s developmental, environmental, social and governance (ESG) efforts.
Commenting on stepping down as Chair, Runa Alam said: “It has been a monumental final year as Chair of AVCA, and I am honoured to be handing the position over to Hurley Doddy following this month’s Board meeting. Hurley has been a pioneer in the industry since its inception and his experience and knowledge of the continent is invaluable to the association. I look forward to continuing to work with him, Papa, and the rest of the board over the coming years.”
Commenting on his appointment, Hurley Doddy said: “Over ECP’s 15 years of operation in the region, the African private equity industry has evolved with increasing interest from the global investment community. Steered by its leadership team and Board of Directors, AVCA has been key to encouraging and supporting private sector investment across the African continent. I look forward to working with the Board to champion investment in Africa.”
Further commenting, Papa Madiaw Ndiaye said: “Private investment in Africa continues to contribute to the development of local economies and communities, while generating attractive returns for investors. I am honoured to serve on this Board as an advocate for its members and for the industry.”
Michelle Kathryn Essomé, Chief Executive Officer of AVCA added, “We are sad to see Runa step down from her role as Chair. She has shown great commitment over the last four years and exceptional dedication and enthusiasm. We are delighted that she will continue to serve on our Board of Directors. In turn, we warmly welcome Hurley as our new Chair, and Papa as Vice Chair.”