A gold mining company targeting listing at the Nairobi Securities Exchange (NSE) has appointed former Kenyan mining minister Dan Kazungu to the company board.
Caracal Gold plc, which owns Kilimapesa Gold Mine in Kenya, are also quoted on the Main Market of the London Stock Exchange and on the Frankfurt Stock Exchange.
Ambassador Kazungu joins the board of Caracal as a Non-Executive Director, effective from 7 March 2022.
He was serving as the Kenya High Commissioner to Tanzania, where he is credited for resetting Kenya-Tanzania trade ties to its current, elevated level and transforming business and investment relations between the neighbouring countries.
Prior to his diplomatic mission to Tanzania, Ambassador Kazungu served as Cabinet Minister for Mining in Kenya.
The company says he drove mining and business reforms during his tenure as minister, which saw the country’s global mining ranking improve to 83rd place from 125th in just 12 months.
During his tenure, the mining sector rose to become one of the top three growth sectors in Kenya’s economy.
Ambassador Kazungu also served as Member of Parliament for the Malindi constituency for a three-year period, where he successfully lobbied central government to build vital regional infrastructure links including roads, an airport and school, opening up the Coastal area to economic prosperity.
His corporate experience spans over 10 years working at tech companies IBM and Lenovo, where he worked as territory manager for Eastern Africa.
His sterling work received a special mention by IBM at the New York Stock Exchange for delivering a successful growth strategy in Ethiopia.
Ambassador Kazungu is a Bachelor of Science graduate in Information Technology from Moi University in Kenya.
He also holds a Master of Arts Degree in Diplomacy and Foreign Policy from the same university.