PANAFRA APPOINTS DR. CHARLES INYANGETE TO THE BOARD OF DIRECTORS

CINCINNATI, OH, – Pan African Management and Development Company, Inc., “Panafra”, announced today that it has appointed Dr. Charles Inyangete to the Board of Directors. Dr. Inyangete is the Group CEO of Integrated Risk and Investment Services (IRIS) Limited and Finance Director for Mutual Developers Limited, a leading Tanzanian residential real estate development firm .

He also serves on the Board of Directors of the Exim Bank Tanzania and is a well known and respected finance professional in Tanzania. He obtained his PhD in Finance at the University of Strathclyde -Glasgow, UK and has taught Finance at the University of Michigan, Millersville, the University of Pennsylvania, and the Institute of Financial Management in Tanzania prior to founding Vertex, IRIS and embarking on his private sector career.

John Tate, Panafra’s Chairman commented, “We are pleased that Charles has accepted our invitation to serve on the Board. His depth of knowledge and expertise in the global financial markets and his innovative and tireless efforts to build capital markets in Tanzania and the region will contribute enormously to the ability of Panafra to achieve its business objectives in Africa.”

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Panafra is a management and development company that works with growing enterprises in Africa to provide financial, management, and market entry support in an effort to help raise living standards in the countries we do business in by increasing the economic reach and development of the local business sectors. We also provide investment opportunities for investors to participate in the rapid development taking place in sub-Saharan Africa. Requests for information and inquires should be addressed to inquiries@panafra.com.