Advanced Finance and Investment Group (AFIG Funds), a leading African private equity fund manager, has announced key changes in its team as part of its new, more aggressive strategy in the continent’s private equity space.
As part of the restructuring plan, Deloitte Senegal Founder Ms. Thiaba Camara Sy has joined AFIG Funds as Chief Operating Officer while Ms. Olga Lawson, a former Director at Deloitte Senegal, will reprise her role at AFIG.
Camara Sy founded audit, consulting and financial services firm, Deloite Senegal in 1990 and led its expansion to become one of Deloitte’s key operations in Francophone West Africa. Meanwhile, Lawson was most recently a Director for Deloitte Senegal, where she managed the Human Resources function for over 100 employees across several departments and advised clients from blue-chip African companies.
“As Investment Director, she will bring best practices to AFIG Funds’ team as well as help improve the risk assessment of target and portfolio companies,” AFIG said in a statement issued earlier this week.
The company noted that the addition of Camara Sy and Lawson to the AFIG Funds team will strengthen the firm’s already deep local networks, and add to its pan-African view
“Patrice Backer who has taken over the position of CIO and I are pleased to welcome Thiaba and Olga to the AFIG Funds family at this important time in the company’s growth,” Mr. Papa Ndiaye, CEO of AFIG Funds, said.
“We have always believed that Private equity in Africa needs people who have hands-on skills and can bring value in addition to financial know-how to the companies in which we invest. The arrival of Thiaba and Olga will facilitate the implementation of our strategic plan which includes other recruitments, staff changes and organization improvements,” he added.
“AFIG Funds has a sterling reputation as a private equity fund management company in Africa and is backed by top quality African and international investors,” said Camara Sy.
“We have a tremendous opportunity to grow further and continue to support African companies with capital and advice anchored on strong business values to address the needs of our partners,” she continued.
The announcement comes shortly after the company disclosed three completed investments: one in FSDH Merchant Bank, a financial services group in Nigeria; another one in First Atlantic Bank Limited of Ghana (FABL) and a third consisting in a follow-on investment in Primrose Properties Ghana (PPG), a real estate development company.