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Appointments

Mutual Benefits Assurance announces CEO’s exit, replacement 

Mutual Benefits Assurance has announced that its Managing Director and Chief Executive Officer, Olusegun Omosehin, would leave next week.

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Mutual Benefits Assurance announces CEO's exit, replacement

Mutual Benefits Assurance has announced that its Managing Director and Chief Executive Officer, Olusegun Omosehin, would leave next Monday. The company also disclosed the appointment of Femi Asenuga as his replacement, which is subject to regulatory approval.

In a statement sent to the Nigerian Stock Exchange (NSE), the board said it “appreciates him (Omosehin) for his contributions to the company over the years and wishes him the best in his future endeavours.” 

Mutual Benefits Assurance announces exit of MD and CEO, discloses replacement 

About the new MD/CEO: According to the details of Asenuga released by the company, he is a seasoned practitioner in the insurance market.

Asenuga holds a Master of Science Degree in Business Administration and a bachelor’s degree in insurance from the University of Lagos. He is an Associate of the Chartered Insurance Institute, Nigeria.

  • The new Mutual Benefit boss started his insurance career with Metropolitan Trust insurance Company in 1993. He moved to Custodian and Allied Insurance as a pioneer manager in the Underwriting Department.
  • He is an Alumnus of Lagos Business School and the Said Business School of the University of Oxford where he attended the Oxford Advanced Management & Leadership Programme.

[READ MORE: Trans-Nationwide Express Plc appoints new Managing Director)

Mutual Benefits against recap: The company has been against the planned recapitalisation scheme by the National Insurance Commission and the Federal Government. While the company has said it could survive the wave of the recapitalisation, it said its concern was for other players who might become victims to the plan. Mutual Benefit also condemned the handling of foreign acquisitions in the Nigerian market.

 

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Appointments

AVCA appoints Kofo Sanusi as new COO

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

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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.

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Appointments

Airtel Nigeria announces appointment of Surendran as new Chief Executive Officer

Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new MD/CEO with effect from August 1, 2021.

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Like MTN, is Airtel Nigeria considering listing?

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.

READ: Airtel Africa signs new $500 million loan with Bank of America, HSBC, others

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.’’

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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.

READ: Meet the latest billionaires on the Nigerian Stock Exchange

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.

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