LeapFrog Investments has appointed Dr Nitin Nowjee as a Director of Investments for Financial Services in Africa. He is based in London.
The news comes after LeapFrog successfully raised USD743 million for its third emerging markets fund, announced in May 2019, an impact investing record.
LeapFrog companies currently reach 188 million people across 35 emerging markets. Most are accessing quality insurance, savings, pensions, credit, remittances or healthcare for the first time.
Nitin brings a wealth of sector and country experience to the role. He was previously Head of Strategic Investments and Business Development for Fintech at the pan-African group Atlas Mara, where he was based in Dubai and specialised in financial institutions and fintech platforms.
He notably led the creation and operationalisation of Atlas Mara Digital Kenya, a subsidiary set up to provide financial technology products and services across Sub-Saharan Africa, including financing for SMEs, agriculture and supply chains. Previously, he held various roles with Arma Partners, Houlihan Lokey and UBS. He holds an MBA from INSEAD and a PhD in Chemical Engineering from the University of Cambridge.
Karima Ola, Head of Africa Financial Services at LeapFrog Investments, says: “We are thrilled to welcome Nitin to LeapFrog. He brings stellar intellectual credentials, strong regional relationships, and deep financial services and private equity experience to the role.
Nitin will be a complementary addition to the Africa Financial Services team as we build on our leadership position investing and building value across the African growth landscape; partnering with and supporting great companies to deliver growth, impact and profitability.”
Nitin Nowjee, Director of Investments – Africa Financial Services at LeapFrog Investments, says: “LeapFrog’s commitment to purpose-driven investing in Africa was central to my decision to join the company. There are many inspiring innovations emerging from various countries in Africa that I’ve worked in, and I can’t wait to put my previous experience to use in the new role, getting results for LeapFrog’s investors and partners – and helping further transform those markets.”
Last month, LeapFrog became the first impact investor globally to announce the results of an independent audit of its impact. The audit referenced the Operating Principles for Impact Management, new industry standards developed by the IFC in consultation with leading asset managers. These nine Principles provide common disciplines globally to help ensure authenticity and high standards of measurement. LeapFrog achieved the top rating across all impact investing principles.
