BOARD OF DIRECTORS OF THE FUND MANAGER ESATAL

Mr. Admassu Tadesse, is TDB Group President & Managing Director and Chairman of the TDB Group Executive Management Board. Prior to his appointment as President of TDB Bank in 2011, Mr. Tadesse served for 10 years with Development Bank of South Africa as EVP responsible for international finance and corporate strategy. He has also served in various capacities in international institutions and funds, mainly in Johannesburg and New York. He has served and continues to serve on several boards of directors, and is a member of the Institute of Bankers and Institute of Directors, South Africa. Mr. Tadesse holds an MSc from the London School of Economics, an MBA from Wits Business School, and trained at Harvard and INSEAD Business School in banking, private equity and executive leadership.
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Mr. David Bamlango, is Group Vice President, Deputy Managing Director, and General Counsel of TDB Group. Mr. Bamlango has over 15 years of experience as a corporate lawyer in leveraged finance, project finance, debt capital markets, structured finance, and derivatives. Prior to his appointment at TDB, Mr. Bamlango was Partner in the Finance Practice Group at DLA Piper and an Associate in the Finance and Banking Group at Mayer Brown LLP in Chicago before that. Mr. Bamlango has a Juris Doctor from Chicago-Kent College of Law, at the Illinois Institute of Technology, and holds a Master's in Business Law from Universite Paris 1 Pantheon-Sorbonne, a License in law from Universite Lille 2, and a Graduate in Law (LLB) from Universite Libre des Pays des Grands Lacs. He is admitted to practice law in the State of New York and the State if Illinois.

Ms. Joy Ntare, is Group Vice President, and Deputy Managing Director of TDB Group. She joined in April 2014 with over 26 years of experience in accounting and finance. She was previously employed by the Central Bank of Rwanda for 20 years in several capacities including as Director General for Financial Stability and Director of Supervision of Non-Bank Financial Institutions. She also worked at the Tanzania Electric Supply Company. Ms. Ntare holds Advanced Diploma in Accountancy and a MBA from Cardiff Business School, University of Wales. She is a member of the Association of Chartered Certified Accountants (UK) and the Institute of Certified Public Accountants of Rwanda (ICPAR)

Mr. Mohamed Kalif, is the former Head of Financial Intermediation and Inclusion at the African Development Bank (AfDB), which role covered commercial banks, insurance, leasing, regional development financial institutions, equity investments, and financial inclusion, including digital payment system throughout the African continent. Before joining the Financial Sector Development of the AfDB in 2010, Mohamed was the Chief Commercial Risk Officer of AfDB for seven years. Prior to joining the AfDB, Mr. Kalif was Head of Project and Construction Finance for a commercial bank in Dubai where he was responsible for the development of the bank's project finance activities throughout the Middle East including Saudi Arabia, Egypt, United Arab Emirates, Oman and India. He also served as a credit manager for one of the largest banks in Saudi Arabia for four years. Mr. Kalif has accumulated twenty-eight years of banking experience and corporate governance, including risk management, corporate banking and project finance lending in commercial banks, development financial sector, equity investment analysis, and evaluation and digital financial services environment.