Equity Bank Notice on Retirement and Appointment of New Directors
Equity Group Holdings Plc Notice On Retirement And Appointment Of New Board Of Directors following approval by shareholders at the 21st Annual General Meeting (AGM) held on 25th June 2025.
Equity Group Holdings Plc wishes to inform its stakeholders of the retirement of directors and the appointment of new Independent Non-Executive Directors to its Board of Directors (the Board), following approval by shareholders and subject to regulatory approvals, at the 21st Annual General Meeting (AGM) held on 25th June 2025.
Appointments
The following have been appointed as Independent Non-Executive Directors:
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Mrs. Farida Khambata
Farida holds a Master’s in Economics from Cambridge University, an MSc from London Business School, and is a Chartered Financial Analyst (CFA). She has over 30 years of experience in emerging markets finance. She co-founded Cartica Capital and previously served as Regional Vice President at IFC, managing a $14 billion portfolio across East Asia, South Asia, Latin America, and the Caribbean. She coined the term “Frontier Markets” in 1992 and served on boards such as Tata Steel Limited, Kotak Mahindra Life Insurance, Tata Investments Corporation, and Dragon Capital Group. She was recognized among Euromoney’s Top 50 Women in Finance and awarded Best Woman Director in 2015. -
Mr. Nick O’Donohoe
Nick holds an MBA from the Wharton School of the University of Pennsylvania. He is a global authority in development finance with a 30-year career in financial services. As CEO of British International Investment (2017–2024), he grew the institution significantly, deploying $10 billion in development and climate finance. He was founding CEO of Big Society Capital and Head of Global Research at JP Morgan. He has served on boards including the Global Impact Investing Network and BlueMark. He was awarded a CMO in 2022. -
Dr. Aloysius Uche Ordu
Aloysius holds a Ph.D. in Economics from the University of Sussex and is an alumnus of Harvard Kennedy School. He has over 30 years’ experience in international development, including service on the Monetary Policy Committee of the Central Bank of Nigeria and as Director of the Africa Growth Initiative at Brookings Institution. He has held senior roles at the African Development Bank and the World Bank Group. He also advises international policy bodies including the Harvard–Lancet Commission. -
Mr. Biraro Rwayitare
Obadiah Biraro holds an MBA from Uganda Martyrs University and is a CPA in Rwanda, Kenya, and Uganda. With 37 years in public financial management, he served as Auditor General of Rwanda (2005–2021), chaired the East African Community Audit Commission, and contributed to the adoption of IPSAS accrual accounting in Rwanda. -
Dr. Lakshmi Shyam-Sunder
Lakshmi holds a Ph.D. in Finance from MIT Sloan and is a recognized expert in risk management. As VP and Chief Risk Officer of the World Bank Group (2014–2024), she helped maintain its AAA rating and unlocked $170 billion in lending. She has also served as CFO of the Multilateral Investment Guarantee Agency and chaired The Currency Exchange’s Supervisory Board. -
Eng. David Mutombo
David holds an MBA from the University of Witwatersrand and completed the Advanced Management Program at Harvard Business School. A licensed Professional Engineer, he has over 20 years of experience in water, energy, and infrastructure. As CEO of REGIDESO SA (DRC), he led a major turnaround. He has managed global infrastructure projects and serves on the board of Chemtrade Logistics.
"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. Their appointment affirms our commitment to robust governance and stakeholder value creation. We also express our heartfelt gratitude to the outgoing directors whose invaluable service has shaped the Group’s strategy and impact over the years." — Prof. Isaac Machinga, Chairman, Equity Group Holdings Plc.
Retirements
In the same AGM, the Shareholders also took note of the following Directors who retired from the Board of Directors. On behalf of the Board, the Chairman extended appreciation to the retiring Directors thanking them for their steadfast commitment, strategic foresight, and exemplary leadership.
These Directors will continue to serve on different subsidiary boards:
- Mr. Vijay Gidoomal – joining Equity Bank Kenya board
- Dr. Edward Odundo – serving on Equity Life Assurance Kenya Board
- Dr. Helen Gichohi – joining the Equity Group Foundation board
- Mr. Samuel Kirubi – continuing as Group Chief Operating Officer
Lydia Ndirangu
Group Company Secretary
26th June 2025