Bank Of Africa-Tanzania Appoints Conrad Nkutu To Its Board

Conrad Nkutu, a management consultant has been appointed to the Board of directors, for Bank of Africa, Tanzania Limited.

Mr Nkutu is a business leader and Director at Strategos Consult Ltd, a business growth, risk management and loss to profit turnaround consulting firm. He is also a director of multiple Ugandan companies; including Bank of Africa Uganda Ltd and five Ugandan hydropower companies (subsidiaries of Frontier Energy of Denmark), namely: Greenewus Energy Africa Ltd, Rwenzori Hydro Private Ltd, Nyamagasani, Tridem Pharma Uganda Ltd (HPP Ltd), Lubilia Kawembo Hydro Ltd and Elgon Hydro Siti Ltd.

Bank of Africa is a subsidiary of BMCE Bank, whose headquarters are located in Casablanca, Morocco and operates in 18 countries across four continents (Africa, Europe, North America, Middle East, and Asia). BMCE Bank of Africa had USD34.5 billion in assets and a net profit of USD285 million as of December 2021.

Nkutu has a wide African corporate management experience, where he previously worked as Country Manager (Uganda) at The East African Newspaper of the Nation Media Group; Corporation Secretory, The New Vision Printing and Publishing Corporation (Uganda); Commercial Director, Standard Newspapers Group (Kenya); Managing Director, Daily Monitor/ Sunday Monitor newspaper (Uganda); Group Business Development Director, Nation Media Group and Managing Director, Nation Broadcasting Division (TV and Radio Broadcasting Division of the Nation Media Group, Kenya).

He in addition served as Head of Corporate Affairs at Tullow Oil Uganda. Nkutu is credited with turning around Monitor Publications from loss to profit, when he served as its Managing Director in March 2004 and June 2007