The African Risk Capacity Limited (ARC) has appointed two new non-executive directors (NEDs). They are Mr Jurgen Meisch and Mr. Phillip Pettersen. They are to join the Board of Directors to bring independent strategic guidance and oversight to its operations.
The new directors joined a group of other industry experts led by Mr. Abdoulie Janneh and Dr Frannie Leautier who serves as interim Chair and as alternate Chairperson, respectively.
According to a statement, in just over six years of operations, the ARC has made $60 million pay-outs to Governments of Senegal, Mauritania and Malawi following droughts episodes in 2014, 2015 and 2019. These funds have gone towards assisting over 2.1 million people whose livelihoods rely on agriculture, preventing the loss of hard-earned developmental gains in addition to 924,689 livestock.
Governments have used ARC Ltd funding to scale up cash transfers, subsidize livestock feeds, replenish depleted food reserves, and distribute emergency food supplies.
Speaking on the appointments, the Director-General of ARC Agency, Mohamed Beavogui said: “We have always been guided by the principle that the quality of our work depends on the capacity of our people. The impressive outcomes we have recorded over the years attest to this principle. We are hopeful that the new Directors will bring a fresh impetus and an uncommon expertise to our operations to serve our Member States even more effectively.”
Expressing confidence in the integrity of the new Directors, the CEO of ARC Ltd, Mr. Lesley Ndlovu, stated: “A common denominator I have seen in ARC is the professionalism of the women and men constituting its management and staff. The rigorous selection process of the new directors, not just based on their rich professional credentials, but especially on their deep passion for the industry, validates the faith of various stakeholders in our ability to field the right people to deliver desirable outcomes.”