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| By George Mangula |
|
Deepak Malik has been coopted to the Board of Ecobank
Transnational Incorporated (ETI) the parent company of the Ecobank Group as a
Non-Executive Director.
Malik joins the ETI Board of Directors as a nominee of
Arise B.V. (“Arise”) which now holds a 14.1 permanent equity stake in ETI
following its purchase of shares previously held by IFC and the funds managed
by the IFC Asset Management Company in August 2019. Arise also is a major
shareholder in dfcu Bank in Uganda. Since January 2017 Malik has been the Chief Executive Officer of Arise, whose core mandate is to partner with sustainable financial services providers to advance financial inclusion in Africa. Prior to joining Arise, Malik was part of the management team at Norfund, a Development Finance Institution where he fulfilled the positions of Head of the Southern Africa Office and Head of Department, Financial Institutions, for over 13 years. In these roles he had overall responsibility for Norfund’s financial institutions portfolio in the Southern Africa region, Central America and South Asia. Mr. Malik has also been the Regional Representative of the Investment Fund for Developing Countries (IFU), which is the Danish Government’s investment arm for developing countries, Managing Director of the Development Bank of Zambia and has held senior executive positions at Zambia Consolidated Copper Mines. He is currently on the Board of Directors of various financial institutions. Mr. Malik is a Fellow of the Institute of Chartered Accountants, India, and has a Bachelors’ Degree in Commerce (Honours) from the University of Delhi, India. |
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