Africa’s second-largest telecommunications company Airtel Africa Plc has confirmed Ethiopian businesswoman Tsega Gebreyes as an independent non-executive director.
Gebreyes, who has played seminal roles in the founding of companies with operations in Africa and abroad, is expected to commence as director with immediate effect, according to a report published by the telecom service provider from its London office.
Billionaire businessman Sunil Bharti Mittal, who founded Bharti Airtel, Airtel Africa’s parent company, noted that Gebreyes will prove an asset to the group.
“Tsega brings with her great telecommunications experience, working and investing in Africa and above all solid financial acumen. All this adds an additional knowledge base at the board,” he said.
Gebreyes is the founding partner of Satya Capital Limited, a private investment firm specializing in Africa-related investments. She also served as chief business development and strategy officer of Celtel International BV and senior advisor to Zain. She previously served as founding partner of the New Africa Opportunity Fund, LLP, a $120-million private equity fund anchored by Citibank.
The Ethiopian business leader currently serves as a non-executive director of the London Stock Exchange Group, vice chair of SES, a publicly-listed company in Luxembourg, director of Satya Capital and senior advisor to TPG.
Her addition to the board will deepen gender diversity in the group’s boardroom, as she joins the likes of Awuneba Ajumogobia, a former board member of the Nigerian investment holding company UAC of Nigeria Plc, Annika Poutiainen, an advisor to the Swedish government, and Kelly Bayer Rosmarin, the CEO of Singtel Optus Pty Limited, an Australian telecom service provider.
At the end of its 2021 financial period, Airtel Africa paid a total of $1.22 million in fees to its directors for their service. Meanwhile, Mittal earned $231,000 during the period.