By SUNDAY ABBA, Abuja
The Africans for Africa (AFA) Initiative has announced the appointment of Sir Sam Jonah, executive chairman of Jonah Capital, as the chairman of its Advisory Board.
According to a statement made available to SUMMIT POST, the appointment marks a significant milestone for the Initiative dedicated to mobilising African capital to fund and develop the continent’s critical mineral resources.
It went further to say that Sir Sam Jonah’s unparalleled expertise in the global mining sector and his lifelong commitment to African economic empowerment align perfectly with AFA’s mission to retain value within the continent.
As chairman, Sir Jonah’s mandate is to guide the board in its oversight of the AFA Fund’s governance, investment strategy, and stakeholder engagement.
His leadership will be instrumental in driving the Initiative’s goal of African agency and mobilising capital to support indigenous mining projects and beneficiation industries, the statement added.
Tim Tokun, Co-founder and Managing Director of AFA, commented:
“We are honoured to have Sir Sam Jonah lead our Advisory Board. His track record of transforming Ashanti Goldfields into a global giant is the blueprint for what we aim to achieve for indigenous miners across Africa.
“His acceptance of this role validates our vision and strengthens our resolve to build a self-sustaining ecosystem for African mining.”
Accepting the appointment, Sir Sam Jonah said, “The vision underpinning the AFA Initiative – to assert economic sovereignty over our natural resources speaks to convictions I have long championed.
“Africa’s development will be secured by disciplined capital allocation and sound governance. I look forward to working with the Board to translate Africa’s mineral endowment into sustainable prosperity.”
Sir Sam Jonah is to lead a high-level advisory board that includes distinguished figures such as Former Chancellor and Business Secretary Rt. Hon. Kwasi Kwarteng, Mr Segun Lawson, CEO of Thor Explorations Plc, Mr Osam Iyahen, Senior Director, Investments, Africa Finance Corporation, Ms Zenzi Awases, President, Women in Mining Africa, amongst several other well decorated professionals bringing together expertise from law, finance, and public policy to ensure the highest standards of stewardship.
Sir Sam Jonah, KBE, OSG
is one of Africa’s most prominent business executives, recognised globally for his transformative leadership in the mining sector.
At the age of 36, he became the Chief Executive Officer of Ashanti Goldfields, where he spearheaded its transition from a one-mine operation into a multinational gold mining giant. In 1996, he oversaw Ashanti’s listing on the New York Stock Exchange (NYSE), making it the first operating African company to be listed on Wall Street.
Following the merger of Ashanti with AngloGold in 2004, he served as executive president of AngloGold Ashanti, the world’s second-largest gold producer.
He currently serves as Executive Chairman of Jonah Capital, a private investment holding company with significant assets in the mining, financial services, and agriculture sectors across Africa.
In 2003, he was conferred with an Honorary Knighthood (KBE) by Her Majesty Queen Elizabeth II in recognition of his exceptional achievements as an African businessman.
He is also a recipient of Ghana’s highest national award, the Companion of the Order of the Star of Ghana (OSG).
Board Experience:
His extensive governance experience includes serving on the boards of major global corporations such as Vodafone Group, Standard Bank Group, and the Bank of America Global Advisory Council.
One the other hand, the Africans for Africa Initiative is a pan-African investment vehicle designed to bridge the funding gap in the mining sector.
By pooling African capital and expertise, AFA seeks to unlock the full potential of the continent’s mineral wealth for the benefit of its people.