The Africans for Africa (AFA) Initiative has appointed Sam Jonah as Chair of its Advisory Board, tasking him with overseeing the governance, investment direction and stakeholder engagement of the Africans for Africa Fund.
The fund aims to mobilize African capital into mineral development, with a focus on project financing and downstream mineral beneficiation across the continent.
The group said in a statement that Jona, executive chairman of Jona Capital, has been appointed to head an advisory body that aims to bridge the mining sector’s funding gap by bringing together regional capital and expertise.
The initiative added that the advisory committee will provide strategic guidance on investment decisions targeting indigenous mining projects and processing activities, with the aim of increasing domestic value retention in Africa’s extractive industries.
Jonah previously served as Chief Executive Officer of Ashanti Goldfields, where he led the company’s expansion from a single mine operator to a multinational producer.
In 1996, under his leadership, Ashanti became the first African operating company to list on the New York Stock Exchange. Following the merger with AngloGold Ashanti in 2004, he served as Executive President of the combined group.
He is currently the Chairman of Jonah Capital, which invests in mining, financial services and agriculture across Africa. His board experience includes positions at Vodafone Group, Standard Bank Group and Bank of America Global Advisory Council.
Other members of the African Advisory Council for Africa include Kwasi Kwarteng; Mr. Seguin Lawson, Chief Executive Officer, Thor Explorations Plc. Osamu Iyahen, Senior Director of Investments, Africa Finance Corporation. Zenzi Awases, Director of Women in Mining Africa, also participated, as well as experts in finance, law and public policy.
