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[June 25, 2014]
Shelter Afrique picks Ugandan as new MD [Business Daily (Kenya)]
(Business Daily (Kenya) Via Acquire Media NewsEdge) Pan-African mortgage loans firm Shelter Afrique has appointed James Mugerwa as its new managing director, replacing Alassane Ba who has held the position for the past five years.
Mr Mugerwa, a Ugandan, takes over at the Nairobi-based housing company that is jointly owned by African governments.
He has previously worked in the financial sector in Italy and Germany.
His appointment brings to an end a controversial term for Mr Ba whose term was almost cut short following allegations that he had assaulted the firm's finance director, Karen Kandie, in June 2012.
READ: Why Shelter Afrique is replacing CEO and finance chief This kicked off a diplomatic storm with the director of Public Prosecutions Keriako Tobiko calling for his arrest.
But Shelter Afrique has a diplomatic status due to its joint ownership by African governments, a factor that shielded Mr Ba from arrest.
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