Real estate developer and private equity firm Fusion Capital has appointed Professor Abraham Waithima as its board representative at LOLC Microfinance Kenya Limited.
The CEO, Daniel Kamau has been picked as his alternate at the board.
Waithima has held significant leadership positions in recent past, including roles at Daystar University and serving as the Vice Chancellor of Kigali University.
He has also chaired the Senate, Management Board, and Finance and Human Resource sub-committee and has also been secretary to the University Council.
LOLC Group is a financial conglomerate with diverse interests, including agriculture and plantations, renewable energy, leisure and accommodation, construction, manufacturing, trading and information technology.
The group's has a global footprint that spans over 25 countries.
Fusion Capital reduced its stake in LOLC Microfinance Kenya to approximately six per cent, following the entry of Sri Lanka-based LOLC Group, which has become the majority shareholder.
The firm in a statement said the shift aligns with its current focus on real estate ventures.
Fusion also recently pivoted from its investments in SMEs to a robust real estate portfolio, establishing Fusion Estate.
Projects under Fusion Estate include Alpha Meadows, Zahara Gardens, Brookhill Gardens and Salma Gardens
The company says it aims to raise capital to facilitate home construction for plot buyers, with affordable housing options ranging between Sh3 million and 10 million.
The private equity firm is also behind Kigali heights, Flamingo Towers, 4th Avenue Towers amongst others in Kenya, Uganda and Rwanda.
It recently set up a subsidiary Fusion Estate which is a land selling entity that mainly focuses on acquiring, master-planning and developing land as well as property management of Fusion real estate portfolio.
