Kaberuka, ex AfDB boss, joins TPG/Satya as Senior Advisor
Organisation unfolds business promotion agenda for Africa
THE Former President of African Development Bank (AfDB) has been appointed Senior Advisor to TPG/Satya, the organisation that emerged from the partnership between TPG Growth and Satya Capital.
The appointment is expected to add momentum to the TPG/Satya partnership, which was launched in June, to combine the global strength and resources of TPG’s investment platform, with the regional expertise and relationships of Satya and Mo Ibrahim.
Since it was launched, TPG/Satya has been working to identify investments in African companies, looking to expand both in Africa and globally. It made its first investment in September in Ecoles Yassamine, a chain of private schools in Morocco.
Managing Partner of TPG Growth, Bill McGlashan said that his organisation “is passionate about partnering with great entrepreneurs and helping them thrive – particularly in emerging economies. We see tremendous opportunity in Africa and are extremely confident in the impact we can make with Mo and Donald.”
Chairman of Satya Capital, Mo Ibrahim assessed that “Kaberaka is not only one of Africa’s leading economists, but also one of its greatest champions. He has a deeply held optimism about Africa’s future and the role of private investment in unlocking that opportunity – beliefs that underpin the TPG Growth and Satya partnership.”
As one of Africa’s leading economists and a Senior Advisor to TPG/Satya, Kaberuka will provide counsel and insight on investment opportunities on the continent.
Kaberuka who was also the Minister of Finance and Economic Planning in Rwanda is credited with transforming AfDB and oversaw the tripling of the bank’s capital, while doubling the size of its investment portfolio.
Besides, the bank increased its private sector window from $500 million to nearly $3 billion a year during his tenure at the regional financial institution.
He was quoted, upon this new appointment as saying that “private equity is transforming Africa. TPG/Satya’s sector knowledge, operational resources and global experience puts it in a unique position to help unleash the potential of businesses across the continent. I’m delighted to be joining TPG/Satya as it builds the next generation of African success stories.”
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