The Board of Alternative Circle Limited has announced the appointment of Mr. John Ngumi as the Chairman of Alternative Circle with immediate effect.
Alternative Circle was founded in 2016 with a dream of revolutionizing financial technology industry. Alternative Circle closed a seed round of 1.1 million USD from CreditInfo in 2017 and this enabled the expansion of the company.
The strategic partnership with CreditInfo gave Alternative Circle access to over 200 developers and 25 data scientists, making it easier for Alternative Circle to become the leading Financial Technology Innovator in the country. Alternative Circle’s first product, Shika is a Kenyan Built Mobile app made for individuals who want to access quick micro-loans, in an easy and fast way. The application is also built for Financial Institutions that can use the platform to reach potential borrowers. The app is currently available on android.
John Ngumi has over 35 years corporate and investment banking experience, and has recently retired from the Standard Bank Group in East Africa, where he served as the Director of Investment Banking Coverage Division for East Africa.
During his career, John worked variously for Barclays Bank, Citibank, Grindlays Bank, National Westminster Bank and Standard Bank Group. He also co-founded Loita Capital Partners Group, one of Africa’s first locally owned independent investment banks.
John has been at the forefront of the development of financial markets product and services, and of the accompanying regulatory frameworks, in Kenya and East Africa. He was also critical in the most significant debt and equity transactions.
John has also served on the Boards of critical Government entities. Mr. Ngumi is currently the Chairman of Kenya Pipeline Company Ltd. since July 2015. He previously served as Chairman of Konza Technopolis Development Authority until July 17, 2015.
He was also a non- executive Director at ARM Cement Limited in 2016. He holds Bachelor of Arts (1st Class Honours in Philosophy, Politics and Economics) from St. Peter’s College, University of Oxford, UK. The entire board of Alternative Circle is delighted to welcome the new chairman to the board.