Equity Group Holdings has announced a significant overhaul of its Board of Directors, appointing five new independent non-executive directors while marking the retirement of four long-serving members. The changes, which are subject to regulatory approval, were unveiled following the company’s 21st Annual General Meeting held on June 25.
The new board members bring a rich mix of expertise in finance, risk management, investment, public policy, and infrastructure, underscoring the Group’s commitment to strong governance and strategic growth.
The newly appointed directors include Farida Khambata, Nick O’Donohoe, Aloysius Uche Ordu, Lakshmi Shyam-Sunder, and David Makhura. Each of them brings a distinguished global track record. Khambata, a Chartered Financial Analyst and co-founder of Cartica Capital, boasts over 30 years of experience in emerging markets and has held senior roles at the International Finance Corporation.
O’Donohoe, an MBA graduate from Wharton, is well-known for his leadership in development finance, having served as CEO of British International Investment and founding CEO of Big Society Capital. Ordu, a seasoned development economist with a DPhil from the University of Sussex, has held top positions at both the World Bank and African Development Bank.
Shyam-Sunder, with a PhD from MIT Sloan, is a renowned expert in risk management and innovation. She previously served as Vice President and Chief Risk Officer at the World Bank Group. Meanwhile, Makhura, an experienced public accountant with an MBA, has led significant global infrastructure and energy initiatives and served as CEO of the Multilateral Investment Guarantee Agency.
Board Chairman James Mwangi welcomed the appointments, stating, “We are privileged to welcome these distinguished professionals whose expertise will strengthen our vision of championing the socioeconomic prosperity of Africa.”
At the same time, the Group announced the retirement of Edward Odundo, Vijay Gidoomal, Helen Gichohi, and Samwel Kirubi. Mwangi expressed deep appreciation for their strategic leadership and long-standing service, noting that they will continue contributing within the Group’s subsidiaries.
The board shake-up reflects Equity’s drive to align with international best practices while enhancing transparency, accountability, and long-term stakeholder value.
