Home Afrika Limited has named Bertha Nuvari Mvati as non-executive director to join the likes of Peter Mungai, Kendi Ogamba and Mbugua Gecaga. Ms Nuvari’s appointment comes shortly after the publicly listed (NSE: HAFR) real estate company reported a loss of Sh887 million for the period ending December 31.
According the Central bank of Kenya quarterly economic review, the real estate sector has registered the highest increase in Non Performing Loans (NLPs) by Sh6.1b representing 15.8% of NLPs, due to slow uptake of housing units. But there is light at the end of the tunnel. Migaa Golf Estate, one of Home Afrika’s long-term projects, for example, is expected to realise its profitability towards the end of the project in about four years.
Nuvari is a perfect fit when it comes to turning around the company’s fortunes thanks to her finance experience that spans nearly ten years. Having worked in various institutions not only in Kenya but also across East Africa in Tanzania, Uganda and Rwanda, her experience is wide in different sectors such as leasing, fundraising, credit risk, operations, and asset management.
Apart from this, she serves as the managing director at Vehicle and Equipment Leasing Limited (VAELL). Prior to rising to the role, she oversaw the group finance and operations across Africa as the regional head of finance and before that she served as head of credit and procurement. Prior to joining VAELL, she was the business manager at Centum investments’ Zohari Leasing overseeing the company’s operations and strategy implementation.
She holds a Bachelor’s degree in Accounting and Finance as well as a Diploma in Business Administration from the Uganda Christian University. Additionally, she also serves on the boards of Avantis Services Ltd and Jubilant Stewards of Africa, an NGO. The finance specialist will hold an important role in the company. Whether she will be able to assist the organization in its operations, only time will tell.
