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Network International

Network International Holdings Make several board changes

Network International Holdings Plc (LON: NETW), the leading enabler of digital commerce across the Middle East and Africa (MEA), announced today the appointments of Ali Mazanderani and Anil Dua to its Board of Directors. Both will join as Independent Non-Executive Directors, effective today.

In addition; Shayne Nelson, Daniel Zilberman and Aaron Goldman have indicated their intention to step down from the Board at the next Annual General Meeting (AGM) of the Company. This follows the reduction in shareholdings and discontinuation of the Relationship Agreements made with Emirates NBD Bank PJSC and WP/GA Dubai IV B.V. They will continue to serve on the Board until the date of the AGM, ensuring a smooth transition for the new Board Directors. Suryanarayan Subramanian will remain as a Board Member, in order to provide support and continuity, given his long standing experience with the business and market.

Ron Kalifa, Chairman of Network International Holdings plc, commented:

“I am delighted to welcome Ali and Anil to the Board, further strengthening the Board’s independent balance. Our new Directors have significant expertise in our sector and markets, supporting our strategy to grow digital payments in the region through delivering leading products and services for customers. In particular, Ali has an extensive background in the global payments industry, whilst Anil’s financial services experience has been focused on the African continent.

I would also like to convey my sincere thanks and best wishes to Shayne, Daniel and Aaron. They have been a key part of Network International’s journey from a small privately owned business, to a publically listed leading payments business operating across the Middle East and Africa. Their expertise, and support of the management team, has helped set the business on a path to success.”

Ali Mazanderani

Ali Mazanderani joins the Company with extensive experience in the global payments industry. Most recently, Ali was a partner at Actis LLP, a global emerging markets investment firm. He has led multiple financial technology transactions, ranging from growth equity investments to leveraged buyouts in global businesses. Prior to this, Ali served as Lead Strategy Consultant at the First National Bank of South Africa and as a Consultant at OC&C Strategy Consultants in London. Ali was profiled in Private Equity International in 2019 as one of the global ‘Future 40: The next leaders in private equity’.

Ali currently serves as a Non-Executive Director for Stone Co Limited.

Following his appointment, Ali will join the Board’s Remuneration Committee.

Anil Dua

Anil Dua joins the company with extensive experience operating in the pan-African financial services sector. Anil is Founding Partner at Gateway, a private equity fund specialising in dynamic growth markets including Africa, the Middle East and Asia. Prior to this, Anil worked for over 35 years of experience with Standard Chartered Bank in Asia , Africa , Europe and US , where he held various roles including Regional CEO West Africa and Regional Head of Origination and Client Coverage, Africa.

Following his appointment, Anil will join the Board’s Audit & Risk Committee. In addition, Ron Kalifa will step down from the Audit & Risk Committee at the next Board meeting.

Anil currently serves as a Non-Executive Director for Liquid Telecom, African Export Import Bank and Nouvobanq.

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