Rooted in the African Growth Story

Advisory Board

The Fusion Group Advisory Board

The Advisory Board’s role is to advise the executive team on the strategic direction of investment, to open doors for the company using members’ high-level contacts, and to advise on any major conflicts of interest or fundamental policy issues which arise in the course of investment activity.

The Advisory Board comprises a group of distinguished academics, seasoned investors from varied backgrounds, and investment practitioners. Advisory Board members are also regularly called upon to comment on individual investment proposals falling within their fields of expertise and experience.

Phil Goodwin
Phil Goodwin
Executive Chairman, Fusion Group

"My role is focused on making sure that the Advisory Board has the right people on it, and that we provide a suitable and - above all - stimulating forum for the Board to meet and exchange ideas."

Phil Goodwin saw the potential in East African investment markets as early as 2005, and is Fusion’s Founding investor as well as Chairman of the principal Group Companies and of the Investment Committee. Phil is responsible for the overall strategic direction of the Group, performance of the Board, performance of the portfolio and fund raising.

Phil has a lifelong career in private equity investment, predominantly in the UK, but also in other parts of Europe, Japan, and Africa.

His early and formative career was spent at 3i, after which he moved to HSBC Private Equity and co-led the management buy-out in 2002, when HSBC Private Equity became Montagu Private Equity.

Montagu is a mid-market private fund typically investing in transaction sizes of GBP£50m to GBP£250m. Montagu had funds and investments under management exceeding GBP£3 billion in 2005, and consistently delivered +30% IRRs over a ten-year period.

Phil holds a Masters from Oxford University and a Doctorate from Manchester University.

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Luke Kinoti
Luke Kinoti
Chief Executive, Fusion Group

“The Advisory Board provides a deep well of wisdom, upon which we all draw. The Board is made up of experienced and independent-minded individuals, which is its strength.”

Luke had the original vision for Fusion: a company which would directly address the under-served capital needs of growing businesses in the vibrant East African region. He is Fusion’s co-founder and he has overseen the group expansion in Africa over the last 6 years.

Luke’s career embraces 26 years of SME financing, the establishment of robust financial institutions, and training and development of executives serving the sector.
He is a seasoned market specialist, and as well as Kenya, his international experience includes Uganda, Tanzania, Rwanda, Sri Lanka, Malawi, and Zimbabwe.

He has held various senior leadership positions in SME Business lending including senior roles at AMREF and ECLOF, a leading MFI (US and Swiss-funded Microfinance Institutions). He also spearheaded the spin off of ECLOF into a privately run enterprise.

Luke holds an Honours degree from University of Nairobi in Mathematics and Statistics, and a Master of Arts in Economic Development.

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Paul Collier
Paul Collier
Advisory Board Director, Fusion Group

“The Fusion Advisory Board keeps me in touch with what real investors and entrepreneurs are thinking in this part of Africa. I am also able to offer insights based on my academic and policy work.”

Paul Collier is the author of the bestselling Development Economics text, “The Bottom Billion” and a string of books on democracy, and (most recently) environmentalism and development.

Paul is a Professor of Economics at Oxford University, and Director of the Centre for the Study of African Economies.

Paul was awarded a CBE “for services to scholarship and development”, and is currently Advisor to the Strategy and Policy Department of the International Monetary Fund (IMF), and advisor to the Africa Region of the World Bank.

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John G Msafari
John G Msafari
Fusion Advisory Board Member – Logistics and Transport, Fusion Group

"My work across the EAC gives me some useful insights into the opportunities and pitfalls of the region. I am happy to share such insights with my colleagues at Fusion, who are very focused on - and positive about - this part of the world."

Currently the Administrative Director of Alpha Group, a conglomerate of companies operating in East and Central Africa and engaged in Fishing, Marine Logistics and supply base solutions for Oil & Gas Operations, shipbuilding and repair.

Board Director of the Central Bank of Kenya and of the Kenya Ports Authority. He served as the Commissioner General of the Kenya Revenue Authority (KRA) from 1998 to 2001.

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Anthony Preston
Anthony Preston
Advisory Board Director - Consumer Markets, Fusion Group

"It is fascinating to be so involved with private equity in this fast-developing region, and to help Fusion be an active player in such dynamic consumer markets"

After a spell at 3i, Anthony built Pets at Home, the UK’s leading retailer of pet related products, from a single store in 1991 to over 270 stores and a disposal value of £955 million.

Anthony remains active in various company and charitable roles, including North-West UK based nursery chain Kids Allowed.

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James Roddis
James Roddis
Advisory Board Director - Private Equity, Fusion Group

“I have been debating private equity opportunities with Phil Goodwin for over 15 years. We don't always agree, but that's what makes it interesting!”

Currently the Director of Minority Investments at ICG, James previously spent 9 years at Montagu Private Equity in the UK, leading investments in LINPAC and Maplin.

James has a long-standing fascination with Africa and was one of the earliest investors in Fusion. His investment experience embraces sectors of great interest to Fusion in Africa: Food and drink (Marlow Foods, the makers of Quorn), the building industry (Caradon), consumer (AM Paper) and healthcare.

Previously, James worked for PricewaterhouseCoopers in their London and Manchester offices in the UK. James holds a degree in Accounting and Economics from Manchester University and is a qualified Chartered Accountant.

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Michele Small
Michele Small
Advisory Board Director - Real Estate, Fusion Group

“It is a pleasure to be able to apply the experience I gained from a long period of developing real estate solutions in Eastern Europe, to Fusion's unique opportunity set in Africa.”

Michele is a seasoned real estate professional who, until recently was an Acting Director of the Property and Tourism team at the European Bank for Reconstruction and Development (EBRD).

At the EBRD, she was responsible for the Property and Tourism team.  This team managed commitments to the sector of over EUR 2 billion,  supporting a total of EUR 7.7 billion to 127 projects, and annual commitments of between EUR 200 and 250million.

Over the last 14 years, Michele has structured and led the underwriting and implementation of several transactions (debt, mezzanine and equity).  She has represented the EBRD on the Investment Committee on real estate private equity funds where the bank is an LP and on supervisory boards of companies where the bank is an equity investor.

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Andrew Tyrer
Andrew Tyrer
Advisory Board Director - Manufacturing, Fusion Group

“I am proud to be involved with Fusion in Africa. It is immensely rewarding to be able to help so many companies in this part of the world realise their potential.”

Results orientated, self-motivated “hands on” entrepreneur with over 30 years industrial experience of composites engineering primarily within the offshore oil and gas sector.

Grew a business from a single-product life-vest supplier in 1976 to an internationally respected £50m turnover supplier of sub-sea equipment to the oil and gas industry by 2004.

Passionate about manufacturing, Andrew continues to invest in and help grow European Small and Medium sized companies. Recent investments include sub-sea oil and gas, aviation and soft drinks sectors. Conversant with most aspects of the private equity process, both as a user and as an investor.

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Ross Warburton
Ross Warburton
Advisory Board Director - Food and Agri-Business, Fusion Group

“Food and Agri-Business is obviously really important in this part of Africa, and it is great to be able to bring my experience to bear with Fusion.”

Ross is co-owner and formerly Executive Chairman of Warburton’s, the UK’s market leading branded bakery business.

In 1980, Ross graduated from Oriel College, University of Oxford, after reading Politics, Philosophy and Economics, (PPE).

He then went on to work in the City of London for five years as an Investment Manager for Invesco before joining the family business in 1985.

In 1991, he became Executive Chairman, where he oversaw the rapid expansion of the Company. He stepped down from this position in 2001 and continues to play an active role in the family business.

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