The African Risk Capacity Limited (ARC Ltd.), a financial affiliate of the African Risk Capacity (ARC) Group, has appointed two non-executive directors to its Board.
The company has appointed both Deepak Dave and Maxwell Mkwezalamba for a three-year term, ending with the ARC Ltd. AGM in 2026.
Together, they both bring a vast degree of Board experience in directorship roles and expertise across the African political network, meteorology, climate change, insurance, the financial sector and development in Africa.
Overall, Dave has more than 24 years of experience across banking, capital markets and private finance in Canada, the UK, Africa, among others.
His expertise falls across executive leadership of strategic change, revenue origination and team management.
At the same time, he is highly knowledgeable in the areas of acquisition, expansion, recapitalisation and turnarounds, as well as senior and subordinated debt, project finance, structured trade and commodity finance, private capital, derivatives, credit and political risk insurance and reinsurance.
Meanwhile, Mkwezalamba is a professional economist based in Lilongwe, Malawi, possessing more than three decades of experience in academia, the private sector, national government, as well as regional and international organisations.
His areas of focus vary across macroeconomic policy and analysis, public finance, international finance and development, regional integration and development, private sector development, policy dialogue and partnership engagement.
ARC has also confirmed that both Dave and Mkwezalamba replace Jennifer Blanke and Phillip Pettersen, whose mandates ended in April this year.
ARC Ltd. CEO Lesley Ndlovu, said: “Deepak Dave and Maxwell Mkwezalamba were appointed following a stringent interview process conducted by our Nomination Committee. Comprising representatives from our Class A and Class C Members, they strongly recommended both candidates.
“We congratulate Deepak and Maxwell on their appointment and welcome them to the Board. We also express our gratitude to Jennifer Blanke and Phillip Pettersen for their input and dedication during their term.”
