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Appointments

AIO appoints NEM Insurance’s Tope Smart as Vice President

Tope Smart, the Chairman of Nigerian Insurers Association (NIA), has been appointed as the Vice President of the African Insurance Organisation (AIO).

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Tope Smart

Tope Smart, the Chairman of Nigerian Insurers Association (NIA), has been appointed as the Vice President of the African Insurance Organisation (AIO).

The announcement was made during the recently concluded AIO’s 46th conference and annual general assembly which held in Johannesburg, South Africa. According to the announcement, Smart’s appointment took effect from Wednesday, June 12, 2019.

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Nairametrics understands that Smart, who is also the Group Managing Director of NEM Insurance Plc, had been a board member of AIO’s executive committee.

Tope Smart’s profile: Smart is an Insurance graduate from the University of Lagos (1987). He is an Associate of both the Chartered Insurance Institute, London (ACII) 1990 and the Chartered Insurance Institute of Nigeria (ACIIN) 1991. He holds a Master’s Degree in Business Administration from the University of Nigeria, Nsukka 2000.

A seasoned Underwriter and Marketer, he started his insurance career with Everyman Insurance Brokers in 1987. In recognition of his performance, he was recommended to head the Abuja branch of the firm but he chose to leave for Nigerian-French Insurance Company Limited in 1989 in order to widen his experience.

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While there, Mr Smart served the company in various capacities and rose to the position of Head of Marine Unit before leaving for Perpetual Assurance Company Limited as one of the pioneer management staff in 1991. He became the company’s Assistant General Manager (Operations) before leaving to team up with Vigilant Insurance Company Limited as the General Manager/Chief Executive in 1995. He was later confirmed as the Managing Director of the company in 1997.

After Vigilant Insurance Company Limited merged and NEM Insurance Plc and company underwent a successful recapitalization exercise in 2007, Smart was appointed the Managing Director/Chief Executive Officer of the new entity. He held the position until April 2009.

About AIO: The African Insurance Organisation (AIO) is a non-governmental organisation recognised by many African governments, including Cameroon which has signed a headquarters agreement with it and where it has set up its permanent secretariat. AIO was established in 1972.

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Patricia

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Appointments

AfDB appoints Rabah Arezki as new vice president and chief economist 

Before Arezki joined the World Bank, he worked at the International Monetary Fund (IMF).

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AfDB appoints Rabah Arezki as new vice president and chief economist 

The African Development Bank Group (AfDB) has announced the appointment of Dr Rabah Arezki as  Chief Economist and Vice President, Economic Governance and Knowledge Management, with effect from October 1, 2020. 

This was disclosed in a press statement on the bank’s website on July 13, 2020. 

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Dr Rabah Arezkiwho is an Algerian citizen, is currently the Chief Economist for Middle East and North Africa Region at the World Bank, a role he has held since 2017. 

At the World Bank, he led the development of the Bank’s “moonshot approach” for the Middle East and Africa which aims to achieve full internet and digital payment connectivity. He championed the agenda on fair competition, data and transparency to empower and unlock the potential of the region’s youth. 

Before Arezki joined the World Bank, he worked at the International Monetary Fund (IMF) from 2006 to 2017. He started his career at the IMF as an Economist and became the Chief of the Commodities and Environment Unit in the Research Department. He provided leadership on IMF’s rapid response to the historical collapse in oil prices that started in 2014. He advised authorities all around the world on risk mitigation policies. 

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READ ALSO: Here is what Akinwunmi Adesina said about allegations against him

Dr Arezki is a senior fellow at Harvard University’s John F. Kennedy School of Government, an external Research Associate at the Oxford University, UK, a research fellow at the CESifo, a global independent research network. Dr. Arezki is also a resource person for the African Economic Research Consortium and a Research Fellow at the Economic Research Forum. He has been a non-resident Fellow at the Brookings Institute, USA. 

He has published extensively both in top academic journals and policy-oriented outlets and is a co-editor and co-author of five books including Shifting Commodity Markets in a Globalized World. Many of his research papers have been cited extensively in academic circles and in prominent media outlets.  

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In his statement after his appointment, Dr Arezki said, The African Development Bank is making excellent progress in accelerating Africa’s development. I am excited with the opportunity to work with President Adesina and the Bank’s leadership and teams to further provide top notch policy, knowledge and capacity building support for African countries.” 

READ MORE: AfDB announces resignation of the vice president, sends message to Adesina

Dr Arezki holds a Masters in Economics and Statistics from Ecole Nationale de la Statistique et de l’Administration Economique (ENSAE) – France (2003), and a PhD in Economics from the European University Institute – Italy (2006). He is multilingual and fluent in French, English, and Arabic. 

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In his own response, the President of the African Development Bank Group, Akinwumi Adesina, said, I am delighted that Dr. Rabah Arezki is joining the African Development Bank Group following an impactful career at the World Bank and the IMF. Rabah is an outstanding researcher and policy expert with extensive experience in research, policy and reforms.” 

“His leadership will be especially important as the Bank designs and deploys policy-based operations to address COVID-19, advances policy reforms, and supports African countries growth recovery efforts from the pandemic,” Adesina added. 

 

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Appointments

Ecobank Transnational appoints Alain Nkontchou as new Chairman

“I am honoured to be appointed as Chairman of Ecobank Transnational Incorporated.”

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Alain Nkontchou

Ecobank Transnational Incorporated (ETI) has announced the appointment of Alain Nkontchou as its new Chairman of the board of directors.

Nkontchou, who is Camerounian by nationality, has been serving as an Independent Non-Executive Director of the pan-African banking group since 2015. A statement made available to the Nigerian Stock Exchange (NSE) confirmed that his latest appointment took effect on June 30, 2020.

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The Camerounian is taking over from Nigeria’s Emmanuel Ikazoboh, whose six-year tenure as Chairman of Ecobank’s holding company ended last month, even as he just reached the retirement age of 70.  The company also noted that the new appointment is in tandem with its Articles of Association.

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While reacting to his own appointment as Chairman, Alain Nkontchou said he is quite honoured and that he was looking forward to working with the rest of the board members.

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“I am honoured to be appointed as Chairman of Ecobank Transnational Incorporated. Having served on its Board since 2015, I have seen Ecobank’s resilience and its proud history, built on strong foundation to secure the Bank’s future success. I look forward to working with the Board and Executive team as we continue our journey ahead and I know that we are well-placed to navigate through the current environment and set the standards in financial services for our customers across Africa. I would also like to express my thanks to my predecessor, Mr Emmanuel Ikazoboh, for his leadership of the Board and to wish him all the best for the future,” he said.

Alain Nkontchou co-founded Enko Capital Management LLP, a London-based asset management company with Johannesburg office. He currently serves as the Managing Partner and of the firm which specialises in prospecting investment opportunities in Africa.

READ ALSO: Cornerstone Insurance’s board will meet July 22nd to consider 2 important issues

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Prior to this time, ETI’s newly-appointed Chairman was a Non-Executive Director at Laurent Perrier champagne between 1999 and 2009. He was also the Managing Director of Credit Suisse’s Global Macro Trading from 1995 to 2008. He held a similar role at JP Morgan Chase & Co.

Meanwhile, from 1989 to 1994, Nkontchou worked with Chemical Bank first in Paris and then New York. At the bank, he rose through the ranks to become the Vice- President, Head of Trading, and Sales. Apparently, he is an accomplished business executive.

Alain Nkontchou obtained an MSc in Electrical Engineering from Supélec and P.M. Curie University, Paris, and another MSc in Finance and Accounting from ESCP (Ecole Supérieure de Commerce de Paris).

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READ MORE: Seplat gives notice of board meeting, to consider Q2 financial result


It should be noted that ETI’s stock closed yesterday’s trading session on the Nigerian Stock Exchange with a share price of N4.80. The share price gained by +1.05% to appreciate from its previous close of N4.75. Year to date, ETI’s share price has declined by about 22%.

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Appointments

Seplat appoints Emeka Onwuka as CFO

Onwuka has over 30 years’ experience in financial services across Sub-Saharan Africa. 

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Seplat appoints Emeka Onwuka as CFO

Seplat Petroleum Development Company Plc. has appointed Mr. Emeka Onwuka as Chief Financial Officer and Executive Director, Lagos, and London.

The appointment takes effect from August 1, 2020.

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The appointment was announced in a notice sent to the Nigeria Stock Exchange on Friday and has been ratified by the company’s board of directors.

According to the notice which was signed by the company secretary and chief governance compliance officer, Mrs. Edith Onwuchekwa, the Board of Seplat is confident that “the wealth of knowledge and experience Onwuka brings will be a great addition to the Company”.

Mr. Onwuka has over 30 years’ experience in financial services across Sub-Saharan Africa. Mr Onwuka is a Partner at Andersen Tax Nigeria and holds various Board positions as Chairman; FMDQ Securities Exchange Limited; Director FMDQ Holdings Limited; Director, Ecobank Nigeria Limited; and Director, Bharti Airtel Nigeria.

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He was also the former Group Managing Director /CEO of Diamond Bank Plc and former Chairman of Enterprise Bank Limited.

READ MORE: This is what Ngozi Okonjo-Iweala is up against

He is a Chartered Accountant, a Fellow of the Institute of Chartered Accountants of Nigeria, and a Fellow of Chartered Institute of Taxation of Nigeria.

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Mr. Onwuka received his B.SC. in Political Science from the University of Nigeria, Nsukka, and holds an MBA from the University of Benin.

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He is an alumnus of the Lagos Business School, Wharton Business School and Harvard Business School.

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Onwuka also holds the Nigerian National Honor, Officer of the Order of the Niger (OON).

 

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