• Friday, July 12, 2024
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AVCA appoints new CEO

Abi Mustapha-Maduakor

The African Private Equity and Venture Capital Association (AVCA) has appointed Abi Mustapha-Maduakor as its new Chief Executive Officer (CEO).

Mustapha-Maduakor joins AVCA from MedAccess, a subsidiary of CDC Group, where she was Head of Business Operations and Finance, overseeing financial and risk management, strategy implementation, and organisational development.

During her tenure as AVCA’s COO from 2016 to 2019, Mustapha-Maduakor played an integral role in driving the Association’s strategy, prioritising knowledge exchange and digitisation.

Under her leadership, the Association strengthened focus on data and pioneering research, professional development support for private equity stakeholders, and strategic regional partnerships, all of which grew the membership to around 150 investors collectively managing $1.5trn in assets.

The appointment follows an extensive global search led by the Board.

Mustapha-Maduakor will take up the position on February 1, 2021, and there will be a transition period with interim CEO, Dara Owoyemi, until her departure.

Tokunboh Ishmael, Chair of the Board, said: “After a rigorous process, it was clear to the selection committee that Abi is the right leader for this chapter in AVCA’s life. Her knowledge of the African investment landscape, advocacy, business strategy and risk management will be instrumental in her role leading the Association through its next phase and transformation, as investors and portfolio companies navigate various social, economic, political and institutional challenges. On behalf of the Board, I would like to thank Dara Owoyemi for her immense support and guidance as we searched for a permanent CEO.”

Mustapha-Maduakor brings several years of finance and banking experience to the role.

Previously, she was Special Adviser on private sector development to the Minister of Industry, Trade and Investment in Nigeria.

She also held leadership positions at Royal Bank of Scotland, Lloyds Banking Group and EY.

Commenting on her appointment, Mustapha-Maduakor said: “It is an honour to be appointed as CEO during this time of tremendous change in the global economy. As the Association’s new leader, my priority will be to build on the success of the past 20 years and transform AVCA into a conduit for diverse and varied sources of private investment in Africa. I look forward to working with the Board and team to deliver first-class member services, putting digital transformation, smart data and collaboration at the heart of our work.”