JUNE 11. 2018: CORPORATE NEWS FROM NIGERIA AND KENYA

NIGERIA:

BERGER PAINTS BOARD CHANGES

From June 7. 2018. Dr Oladimeji All retired voluntarily  as chairman  of the Board of directors  of Berger Paints Nigeria.

According  to Oluseun  Oluwole,  company secretary /legal adviser,  he retired to free himself for other commitments after serving in the position July 17, 2014 and being a board member  since  December  2012.

Mr And Ayida, a non executive  member  of  the board since 1999 has also been appointed the new chairman  of the board.

He holds  Bachelor's  degree in economics  from University  of  Minnesota and masters from Pennsylvania State University.

He also brings to bear on his new position,  years of experience in banking, insurance  and manufacturing  in the UK,  US and Nigeria.

TRANSCORP'S NEW EXECUTIVE DIRECTOR

Mr Christopher  Ezeafulukwe the group general counsel and head,  business  development for Transport Nigeria plc has been elevated to the board of the company.

His elevation takes effect from first of next month,  according  to group company  secretary,  Helen Iwuchukwu.

He brings to bear 17 years experience mostly in the banking industry.

Prior to joining  Transcript,  he was company  secretary Bank PHB and earlier,  head legal services  and company  secretary  of Platinum  Bank.

He has LLB and LLM from the University  of Lagos plus an additional  LLM,  energy environmental  and natural resources  law from University  of Houston,  Texas.

He started his career with Paul Usurp and Co and is a member  of the Nigerian Bar Association,  Association  of International  Petroleum  Negotiators and Institute of Chartered  Secretaries and Administrators  of Nigeria.

KENYA:

EQUITY GROUP FOUNDER RETIRES

The founder and board chairman of Equity Group, Dr Peter  Lamar's Minta, one of Kenya's top banks,  has decided to retire from the next annual general meeting in 2019.

He founded the group in 1984 as a small building  society and will now retire after 35 years of service.

Under his watch,  the company grew from being just building society between  1984 and 2004 to being a full fledged  commercial  bank quoted on the Nairobi  Securities Exchange and today ranks as one of the best banking group in Kenya.

By April this year,  it had market capitalisation  of Kay 213bn,  asset base of Ksg528bn and has active presence in six countries  in East and Central Africa with 12.3m customers.

Also, billed to take over from as Chairman  designate,  is Mr David Ansell who is currently  the vice chairman  of the group.

He holds bachelor's  in mathematics  from University  of North Carolina and is also a graduate of Thunderbird Graduate School  of International  Management and the Wharton Business  School.

His working experience  includes stints as President  of Citibank Russia,  and CEO Ecobank Transnational  Incorporated.

EAST AFRICAN BREWERIES REVOLVING DOOR

The boardroom revolving  door of East African Breweries  Ltd has revolved to exit a non executive  director,  Mr Nehemiah  Mchedu with effect from June 6. 2018.

According  to chairman  of the board,  Mr Charles  Muchene also retired as chairman  of EAB subsidiary Serengeti Breweries  Ltd to pursue other interests.