Africa’s OMAI hires head of impact funds

Africa’s largest private alternative investment manager, Old Mutual Alternative Investments (OMAI), has hired Zomunoda Chizura as the head of its impact funds team.

The team manages funds earmarked for affordable housing, access to quality education and small-to-medium sized businesses.

Prior to his new role, Chizura was chief executive of Old Mutual West Africa based in Lagos where he oversaw the roll out of the Old Mutual business in Nigeria and Ghana. He joined the company in 1999 as head of research for Old Mutual Asset Management in Zimbabwe.

In his new position, Chizura is expected to manage the active investments of the impact funds team and expand the firm’s market presence in Africa.

“We are delighted to announce Zom Chizura’s new role as head of the impact funds team,” said Paul Boynton, chief executive officer of OMAI. “The impact funds team actively invests in assets and regions where they have identified gaps or backlogs in social infrastructure, creating commercially sustainable investments that have large scale impact while producing positive community benefits.”

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