Globeleq announces the appointment of new Chairman and CEO

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Globeleq announces the appointment of new Chairman and CEO

Globeleq has announced the appointment of a new Chairman, Dr Reuel Khoza, CEO, Henry Aszklar, and other board positions.

Dr Reuel Khoza has been appointed Chairman of the Globeleq Board. He previously held chairmanships for Nedbank Group, Glaxo SmithKline SA, Corobrik (Pty) Ltd, and Eskom Holdings Ltd. Dr Khoza currently chairs Aka Capital (Pty) Ltd, an investment holding and private equity company.

Henry Aszklar, an energy industry expert with over 20 years of experience, has been appointed CEO of Globeleq. He has specialised in energy investments in emerging markets, including the development, acquisition and financing of IPP projects in Africa, Latin America and the US.

The other new appointments are the following:

  • Eddy Njoroge, the former CEO of Kenya Electricity Generating Company (KenGen) and current Chairman of Telkom Kenya.
  • Jean-Louis Ekra, the former Chairman and President of the African Export-Import Bank.
  • Eivind Reiten, an economist and former Norwegian Petroleum and Energy Minister.
  • Edward (Ned) Hall, an experienced energy industry professional who most recently served as Executive Vice President and Chief Operating Officer of Atlantic Power Corporation.

These appointments come as Globeleq enters its next phase of development under the direct ownership of CDC Group plc, the UK’s development finance institution (DFI), and Norfund, the Norwegian Investment Fund for Developing Countries. Having obtained the necessary government and lender consents, CDC and Norfund are now the sole shareholders of Globeleq with 70% and 30% holdings, respectively.

Reuel Khoza, Globeleq Chairman said:

"Africa's industrial development is dependent on the availability of electricity. One cannot speak of mining, commercial agriculture and food security, ICT, or even health and education without energy. Electricity is, in very significant ways, a sine qua non for Africa's socio-economic development."

CDC Chief Executive, Diana Noble, said:

“What is inspiring about this new chapter in Globeleq’s story is the scale of impact that could result if it succeeds in its plans to help bring reliable power to the working and home lives of millions of people across sub-Saharan Africa.”

“As an original founder of Globeleq in 2002, CDC is proud that, together with Norfund, our vision and resources will combine with the new CEO, Board and high-calibre Globeleq team to deliver on a strategy to address the biggest market gap in early stage development to enable a significant increase in power generation capacity over the course of the next decade and beyond.”

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