TheBoardroom Africa Receives US$2m Injection from CDC Group

AFRICA – CDC Group, the UK’s development finance institution has announced a US$2 million funding to TheBoardroom Africa (TBR Africa) to boost diversity to companies and organisations across Africa.

Marcia Ashong, Founder and Executive Director of TheBoardroom Africa, said that the partnership with CDC Group will boost its efforts of promoting gender diversity across major segments Africa.

“TheBoardroom Africa’s pipeline of talent is driving a fundamental shift in the gender balance among leadership teams in businesses across Africa and beyond.

We are proud to partner with CDC Group, one of the leading investors in Africa, as we work to expand our network and help more companies recognise that gender diversity has a real social and economic benefit to both business and society,” she said

The CDC funding comes as reinforcement to TBR Africa’s ambitions of doubling female representations in African organisations and companies’ boardrooms by 2018.

The empowerment firm connects board of directors and Chief executive officers with talented females.

CDC’s funding is in line with its newly launched gender strategy that focuses on improving women’s economic empowerment across its investment cycle especially through supporting women’s leadership.

Jen Braswell, Director Value Creation Strategies at CDC Group, said that the funding is also aimed at reinforcing its goal of encouraging world’s investors to pitch tents in Africa.

“Our partnership with TBR Africa has already begun helping us reach our commitment to promoting gender equality in corporate leadership.

The funding we’re announcing today will help TBR Africa continue to provide us with outstanding candidates for our portfolio that we would not have otherwise found,” said Jen.

TBR Africa has received major support through its partnerships with development finance institutions, private equity, venture capital funds among other institutions and corporations.

Digest Africa reports that the funding will also facilitate expansion of the group’s membership and client base across major growth markets as well as develop a women oriented accredited board training and mentorship programme.

So far, TBR Africa has successfully managed to support various board and investments committee placements for CDC investments including major multinational bank as well MedAccess and the Africa Food Security Fund.

CDC has expressed its commitment to beef up the involvement of women in senior positions among its subsidiary companies, promote board and investment committee diversity in Africa and Asia.

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