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April 16, 2015

Obtala Resources appoints executive deputy chairman

Obtala Resources (LON:OBT), the African agriculture, timber and retail business, has appointed investment banker and private equity veteran Stephen Murphy to the board.


Murply will take over as executive deputy chairman with immediate effect.


Murphy's background includes considerable relevant experience investing in Africa from his time with Cairo based Qalaa Holdings SAE, where he worked in numerous senior capacities from 2008 to 2013.


He is a special advisor to Qalaa and will continue in this role.


Obtala also revealed that Grahame Vetch and Timothy Walker have stepped down from the board to concentrate, respectively, on managing the agriculture projects and African Home Stores carried out by the company's subsidiaries.


"I believe that the prospects for Obtala's early stage businesses will be sufficient to draw both talent and new investors" commented Murphy on his appointment.


"The macro view on Mozambique in particular is also very positive as its abundant natural gas and coal reserves are driving major increases in foreign direct Investment," he added.



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