Africa Enterprise Challenge Fund appoints new CEO

The Africa Enterprise Challenge Fund (AECF), a pan-African development institution providing catalytic funding to early-growth stage private sector companies in sub-Saharan Africa, wishes to announce a leadership change.

“The Board of Directors of the AECF is pleased to announce the appointment of Mrs. Victoria Sabula as Chief Executive Officer (CEO) of the organization,” said Lord Paul Boateng, Chairman- Board of Directors, The AECF.

“Mrs. Sabula brings a wealth of knowledge in development, access to finance, risk mitigation, compliance, taxation and corporate governance. The AECF board thanks her for taking up this role,” he added.

Prior to joining the AECF, Victoria served as AGRA’s General Counsel and Corporation Secretary, providing strategic oversight on legal advisory, compliance, risk management and governance for AGRA’s programmatic activities across sub-Saharan Africa.

During her time at AGRA, she actively managed the AECF’s transition from a project within AGRA to an independent subsidiary. Due to her involvement in the transition, she has intimate knowledge of the AECF’s operations.

Starting her career with Kenya Commercial Bank (KCB) Group, she has extensive experience in structuring and negotiating corporate finance transactions, drafting and negotiation of complex contractual agreements, as well as advising on governance and multi-country regulatory compliance matters.

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Victoria holds a Bachelor of Law (LL. B) Degree from Moi University, a post-Graduate Diploma in Law from Kenya School of Law, a diploma in Human Resource Management from Kenya Institute of Management, and a Masters in Business Administration from Nazarene University. In 2015, she was named in the Legal 500’s General Counsel Power List Africa, which recognises the top 100 corporate counsels in Africa.

African economies offer tremendous opportunities in agribusiness, renewable energy and climate change, and with the rapid growth of small and medium enterprises (SMEs) an excellent investment opportunity exists.

Despite this, SMEs are still facing challenges in mobilising capital – with Africa’s finance gap for SMEs standing at US$331billion.

The AECF is at the centre of bridging this gap by funding the private sector in agribusiness, renewable energy and climate change in sub-Saharan Africa.

“I am very excited and feel privileged to be part of this transformational journey,” said Mrs. Victoria Sabula, CEO-AECF.

“The AECF will continue to pursue the most innovative ways to promote more inclusive economies through innovative financing,” she added.

The AECF has completed two years in the delivery of an ambitious new strategy to support African companies to innovate, create jobs, and leverage investment and markets that will create resilience and sustainable incomes for rural communities across Africa.

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In that period, AECF increased its fund size from US$256million to US$356million and improved the lives of 3.2 million households in 2018 alone.

Mrs. Sabula’s appointment comes at a time of scaling impact at the AECF, as well as consolidating the work that has been done over the past two years. She will work with partners to unlock opportunities for Africa’s rural and marginalised communities.

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