GuarantCo Management Company (GMC) announces team changes to deliver against future growth opportunities and establish a USD 2 billion portfolio by 2025
GuarantCo Management Company (GMC), GuarantCo’s fund manager and a subsidiary of Cardano Development, has made a number of senior management changes to ensure that GuarantCo, a Private Infrastructure Development Company, is well prepared to deliver against future growth opportunities and achieve its goal to establish a USD 2 billion portfolio by 2025.
Effective 1st July 2020, Nishant Kumar, currently Regional Director, South Asia, has been promoted to Managing Director, Asia and Jules Samain, presently Regional Director, North & West Africa, has been promoted to Managing Director, Africa taking over responsibilities of Janice Kotut-Sang, currently Regional Director, East & Southern Africa, who has been promoted to Managing Director, PIDG InfraSolutions.
PIDG InfraSolutions is a new initiative to increase the number of long-term local currency financed infrastructure projects in lower income countries across Africa and Asia.
The new Managing Directors will be joining the Executive Committee of GuarantCo Management Company.
Lasitha Perera, CEO of GuarantCo said: “Since we were established in 2005, we have come a long way. In the last few years, we have gained significant momentum and created developmental impact through the continued support of our five funding G20 governments, the Private Infrastructure Development Group, Cardano Development, GuarantCo’s fund manager, and the dedication of our team. Considering the various growth opportunities that we have created and our goal to establish a USD 2 billion portfolio by 2025, financial sustainability has become a key priority. We can only deliver this by having the right team in place and I am therefore delighted that we have been able to make those senior appointments to ensure that we are well set up to deliver for the future.”
GuarantCo mobilises private sector local currency investment for infrastructure projects and supports the development of financial markets in lower income countries across Africa and Asia. GuarantCo is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through PIDG, and the Netherlands, through FMO and PIDG. GuarantCo is rated AA- by Fitch and A1 by Moody’s. GuarantCo’s activities are managed by GuarantCo Management Company which is part of Cardano Development. www.baymoonstudio.co.za/gcod
The Private Infrastructure Development Group (PIDG) is an innovative infrastructure development and governance organisation which encourages and mobilises private investment in pioneering infrastructure in the frontier markets of sub-Saharan Africa and south and south-east Asia to promote economic development and combat poverty. PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 183 infrastructure projects to financial close and provided 243 million people with access to new or improved infrastructure. PIDG is funded by six governments (the UK, the Netherlands, Switzerland, Australia, Sweden, Germany) and the IFC. PIDG TA can provide technical assistance and capital grants to the PIDG companies to meet a range of needs associated with an infrastructure project’s life-cycle. PIDG TA can also provide up-front viability gap funding grants to support PIDG projects that require concessional funding to make a project with strong development impact financeable. www.pidg.org
About Cardano Development
Cardano Development is a fund manager and incubator empowering frontier financial markets by streamlining capital and applying risk insights to create innovative and scalable solutions. With over USD 5 billion assets and USD 1.2 billion capital under management, we support five established funds, including ILX, GuarantCo, Water Finance Facility, TCX and Frontclear, with ongoing management services and corporate governance oversight. Cardano Development works with reputable partners including foundations, governments, impact investors, institutional investors and commercial partners. www.cardanodevelopment.com
Contact for GuarantCo
Marjolein van Kampen
M: +44 (0)738 8857097
Contact for PIDG
Head of Communications
M: +44 (0)7917 302724
Contact for Cardano Development
Corporate Communications Manager
M: +31 (0) 682 809 314