The Board of Directors of the African Private Equity and Venture Capital Association (AVCA) has appointed Kofo Sanusi as its Chief Operating Officer (COO).

Kofo joins AVCA from Founders Factory Africa (FFA), a venture development company investing in start-ups in sub-Saharan Africa.

As Chief Operating Officer and Accelerator Director, she was responsible for overseeing the company’s financial and operational activities, leading investments, and supporting early-stage start-ups to scale across Africa.

Abi Mustapha-Maduakor, AVCA’s CEO, said: “Kofo is the right person to support the Association as we implement the strategic vision and continue to deliver value for our members. She brings an exceptional track record of providing strategic, operational, and financial management for various businesses across Africa.

Her in-depth knowledge and experience in the early-stage ecosystem in Africa will be an asset as we look to broaden the Association’s reach across the private investment industry in Africa.”

Prior to joining FFA, Kofo was Chief Operating Officer at SPRING Accelerator, a 5-year programme that supported over 75 growth-oriented businesses across East Africa and South Asia.

Speaking of her appointment, Kofo said: “Having spent many years supporting African businesses to grow and scale their operations, it is a privilege to continue serving the continent through my role as Chief Operating Officer at AVCA.

There is no better time than now to invest in Africa, and I look forward to working with the AVCA Board, supporting the CEO, and leading the great team of people working hard to deliver on our strategic vision.”

Kofo brings over a decade of experience in strategic business and operational planning and financial management. She has worked across Africa, the Middle East and Asia, supporting businesses across a broad range of sectors.

What you need to know

The African Private Equity and Venture Capital Association is the pan-African industry body that promotes and enables private investment in Africa.

Telecommunications giant, Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new Managing Director and Chief Executive Officer with effect from August 1, 2021.

Surendran would be replacing the outgoing Managing Director and Chief Executive of Airtel Nigeria, Olusegun Ogunsanya, who has been elevated to the position of Chief Executive Officer of Airtel Africa Plc with effect from October 1, 2021.

According to a report from the News Agency of Nigeria, this disclosure is contained in a statement issued by Airtel on Wednesday, May 5, 2021, in Lagos.

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The statement says that Surendran would also be appointed to the Executive Committee (ExCo) as Regional Operating Director, reporting to the CEO of Airtel Africa plc, and onto the Board of Airtel Networks (Nigeria) Limited.

Airtel in its statement said, “Surendran has been with Bharti Airtel since 2003 and has contributed immensely in various roles across customer experience, sales and business operations.

He was the Chief Executive Officer of Karnataka, which is the largest circle in Airtel India, with over one billion dollars in revenue.

Surendran delivered an exceptional performance with significant movement in Revenue Market Share (RMS) over the last few years, currently at 54 percent. He has over 30 years of business experience, including 15 years at Xerox.’’

Airtel said that Surendran would transition into his new role from June 1, 2021, and spend the time onboarding into the business until July 31, 2021.

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In case you missed it

It can be recalled that a few days ago, Airtel Africa Plc, a leading provider of telecommunications and mobile money services in Nigeria and 13 other countries, announced the appointment of Mr Olusegun Ogunsanya as the new Chief Executive Officer, following the notice of retirement given by the current Managing Director/Chief Executive Officer, Raghunath Mandava, to the Board.

In the notification sent by Airtel Africa to the Nigerian Exchange, Ogunsanya is expected to join the board of Airtel Africa with effect from October 1, 2021.