[Kenya] Base Titanium Limited confirms three additional members to its board
23-02-2017 10:20:00 | by: Bob Koigi | hits: 1596 | Tags:

Base Titanium Limited, a wholly-owned subsidiary of Australian and UK-listed Base Resources Limited has announced the appointment of three additional members to its Board of Directors.

These new members, in investment banker John Ngumi, prominent lawyer Desterio Oyatsi and financial market analyst, advisor and commentator Aly-Khan Satchu, bring vast experience from the private and public sectors and detailed knowledge of the East African business environment.

They join existing Chairman Professor Joseph Maitha and Base Resources Executive Directors Tim Carstens and Colin Bwye on the expanded Board. In announcing the new board members, Tim Carstens said, “I am delighted to welcome such an eminent panel of Kenyan thought leaders to the Board of Base Titanium. Their knowledge and experience in the Kenyan investment and regulatory environment will deepen Base Titanium’s ability to understand the Kenyan context, influence discussion and deliver on its strategic plans to the benefit of all stakeholders.”

The new Board members will work to enhance Base’s relations with the Government of Kenya and will play strong role in promoting the Kenyan mining sector, both domestically and internationally. The new Board members join Base Titanium at an exciting time.

The Kwale Mine operations are performing strongly and safely, there is ongoing transition to a Kenyan workforce with 96 per cent of those employed now Kenyan and 64 per cent from the local community and commodity markets are showing encouraging signs of improvement.

Importantly, Base has recently embarked on a near-mine exploration program that seeks to extend the life of the Kwale Mine and continue its significant contribution to the Kenyan and local economy.

John Ngumi has played a leading role in the development of Kenya’s and East Africa’s debt and equity capital markets over the last 25 years, most recently during his tenure as Director, Investment Banking Coverage at Standard Bank in Nairobi.

Mr Ngumi is the current Chairman of the Board at Kenya Pipeline Company Limited and previously held the position of the first Chairman of Konza Techno City Development Authority.

Desterio Oyatsi is an accomplished Nairobi-based lawyer, an Advocate of the High Court and Managing Partner of Shapley, Barret & Company Advocates, a leading law firm in Kenya. Mr Oyatsi sits on several Boards and is currently Chairman of Metropolitan Life Insurance Kenya Limited and the Commercial Bank of Africa (CBA) group.

He has previously served as a director in various other organizations including Telkom Kenya and the Capital Markets Authority. Mr Oyatsi has been involved as an advisor with the Kwale mineral sands project since its inception, particularly in negotiations with the relevant Government agencies for the legal instruments and rights upon which the project operates and as a member of the Resettlement & Compensation Committee which oversaw the successful resettlement and compensation of the local community.

Aly-Khan Satchu is the Chief Executive Officer of Rich Management Limited, a Nairobi-based investment advisory firm. Prior to establishing Rich Management, Mr Satchu worked for 15 years in London’s financial sector.

During his time in London Mr Satchu served as the Executive Director of Dresdner Kleinwort Wasserstein, Managing Director of Sumitomo Bank and as Treasurer and Director of ANZ Investment Bank. Born in Mombasa, Mr Satchu returned to Kenya in 2006. He is also a regular commentator on economic matters in local and international media.

www.basetitanium.com