East African Breweries & Old Mutual Appoint New Directors

East African Breweries PLC (EABL) and Old Mutual Holdings have announced changes to their board of directors.

In a notice on Monday, June 3, EABL appointed Paul Deo Makanza as an Independent Non-Executive Director with effect from June 2, 2024.

“The Board is pleased to welcome Paul to its ranks,” the notice read in part.

The Board described Paul as a seasoned business executive with extensive experience in the service and manufacturing sectors.

East African Breweries New Director Career

Paul began his career as a Consultant at Coopers & Lybrand in Tanzania from 1992 to 1997 and then served as a Senior Consultant at PricewaterhouseCoopers from 1998 to 2001.

He then became the Director of Corporate Affairs at Tanzania Cigarette Company PLC (UTI Tanzania) from 2001 to 2016, followed by his role as Regional Director of Corporate Affairs for Sub-Saharan Africa at JTI UK from 2017 to 2020.

Paul currently serves as Chairman of ABSA Bank Tanzania, Tanzania Cigarette Company Pic. Tanzania Startup Association, and the Confederation of Tanzania Industries.

He is also the Vice Chairman of the Tanzania Petroleum Development Corporation (TPDC) and Tanzania Private Sector Foundation (TPSF) and a Board member of the East African Business Council.

Paul was also recently appointed as Chairman of Serengeti Breweries Limited.

He holds a post-graduate degree from The Netherlands Business School in Corporate Finance and a bachelor’s degree in commerce from the University of Swaziland.

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Old Mutual Unveils New Director

Similarly, Old Mutual announced the appointment of Dr. Habil Olaka as an independent non-executive director of the Company with effect from June 3, 2024.

“This appointment is subject to receipt of regulatory approval from the Insurance Regulatory Authority,” said the Board.

Experience

The 59-year-old is the immediate former Chief Executive Officer (CEO) of the Kenya Bankers Association (KBA).

Prior to that he worked at the East African Development Bank (EADB) and Banque Indosuez (now Bank of Africa) in various capacities in audit, risk management and operations.

He started his career at PricewaterhouseCoopers, Nairobi in the Audit and Business Advisory Services Division.

Dr. Olaka is a member of the institute of the Certified Public Accountants of Kenya (ICPAK) and an alumnus of the Strathmore School of Accountancy.

“The board welcomes Habil and looks forward to receiving his valuable contributions,” reads another part of the notice.

He holds a Doctor of Business Administration from USIU-Africa, and his DBA dissertation was on strategic leadership’s influence on strategy implementation in commercial banks in Kenya: An MBA in Finance from the Manchester Business School, UK, and a First-Class Honours BSc degree in Electrical Engineering from the University of Nairobi.

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