East Africa Exchange is a wholly owned subsidiary of AFEX, a limited liability company registered in 2012 in the British Virgin Islands, with principal investors Nicolas Berggruen, Tony Elumelu, and Jendayi Frazer. Daily operations of AFEX are overseen by Jendayi Frazer, Managing Partner, and Timothy Shortley, Chief Operating Officer.
Nicolas Berggruen, AFEX Partner
Nicolas Berggruen is the Chairman of Berggruen Holdings, a private company which is the direct investment vehicle of The Nicolas Berggruen Charitable Trust. Berggruen Holdings takes a long-term, patient capital value-oriented approach and invests across a wide range of industries, continents and asset classes. Mr. Berggruen is also the founder of the Berggruen Institute on Governance (formerly Nicolas Berggruen Institute), an independent, non-partisan think tank that looks to use the power of the private sector to improve the livelihoods of millions of Africans.
Tony Elumelu, AFEX Partner and Chairman of the Board
Tony O. Elumelu, MFR, is the Chairman of Heirs Holdings Limited, an African proprietary investment company with a long-term investment horizon in key economic sectors that can propel Africa's economic development. Heirs Holdings is committed to the economic transformation of Africa through investments that create both economic prosperity and social wealth. Mr. Elumelu is also the Founder of The Tony Elumelu Foundation, an Africa-based and African-funded philanthropy whose mission is to identify and groom African business leaders and entrepreneurs to enhance the competitiveness and growth of Africa's private sector.
Jendayi Frazer, AFEX Managing Partner
Jendayi E. Frazer is President and CEO of 50 Ventures, a private investment company that seeks to elevate Africa's global standing by investing in its governance, education, enterprise, and stability sectors. 50 Ventures also offers expertise on internal affairs affecting Africa and African business investments.
Timothy Shortley, AFEX Chief Operating Officer
Ms. Frazer was the leading architect of U.S.-Africa policy for nearly a decade, serving as the U.S. Assistant Secretary of State for African Affairs from August 2005 to January 2009. Previously she was Special Assistant to the President, Senior Director for African Affairs at the National Security Council, and the first woman U.S. Ambassador to South Africa, appointed in 2004.
Timothy Shortley is the Chief Operating Officer for AFEX. Prior to joining AFEX, Mr. Shortley served as Deputy to the U.S. Special Envoy to Sudan and as Director of the Sudan Programs Group at the Department of State from 2008 to 2011. He was Senior Advisor for Conflict Resolution to Assistant Secretary of State Jendayi Frazer from 2007 to 2008, and the Director for Africa on the National Security Council at the White House from 2005 to 2007. Previously, Mr. Shortley served with USAID in the humanitarian relief, conflict response, and development sectors from 1995 to 2005, including living for seven years in Rwanda and Ethiopia.